Halal investments

Al rayan bank has good halal investments. I also have an etsy shop for calligraphy but I don't earn much from this. Good luck!

If you have an investment account, there are shariah compliant etfs like hlal and spus. Personally I would stick with etfs if you are a beginner. A good beginner book to investing in general is the little book of common sense investing by John Bogle. The Zoya app is a good app that tells you if a stock is sharia compliant or not. There are halal stocks that pay dividends too, but I would read up on it before diving head in. Only invest what you don’t need for at least 5 years. The general rule is to save 6 months worth of expenses before investing.

I used to have a small baking business and personalised frames business. They were more hobbies than anything as I enjoyed both for a couple years, and during maternity before my 1st son came along but side hustles making extra cash and nice to treat myself. A sister also mentioned Al Rayan bank above. My sister advised I also open shariah compliant savings accounts for my 2 sons Insha'Allah. She did this for all her children and put away a little money each month till all 4 of her children turn 18 as investments for them, 2 already have Alhumdulillah

I also changed to part time a year and a half ago, always worked from home post pandemic Alhumdulillah. It's still possible to save working part time - it just means cutting down a little more expenses, being more vigilant with shopping and where to buy, putting less away but keeping that consistency. I don't really spend on myself but on my family, rent, bills, the home and gifts for others but it is important to treat oneself occasionally too. I think because I'm good with money when it comes to spending on myself, I'm able to put some money away each month for our family

I buy gold and silver through a theminted app. It's a halal business with muslim owners. I feel that cash loses value over time with inflation etc but things like gold have historically always kept their value!

@Fatema yeah exactly, I try to be frugal with spending and save a few hundred in a separate account. I just don't know what to do with it as it's just sitting there lol. I will look into Al rayan bank as a couple of sisters mentioned. A little goes a long way if saved for a long period of time. That's a nice idea to have savings for their children. I would like that inshaa'Allah so they don't have to go into any debt if they want to go to university etc.

@Sonia that's interesting I considered doing that, do you have to hire storage for that and is there additional fees? And how do you calculate how much zakat is paid or do they calculate that for you?

@Saara some good suggestions I haven't heard of these apps before, jzk sis!

So you don't actually get the gold unless you want it sent to you. I just work out zakat on it as normal and I think there is a small monthly fee for hiring. Sometimes when the gold price is high I sell my gold and buy it again when it's cheap.