Even though money does not equal happiness, it is true that money is needed to not only buy the necessities in life, but it is also needed in order to purchase things that make people happy. In order to enjoy a family vacation, a night out at the movies, or a day of shopping with the kids, money is needed. For families to successfully cover their needs and in order to enjoy some recreation, a budget is required and an overall financial plan is needed.
Many family heads have decided to speak with an Islamic financial planner in order to help them come up with a long-term financial plan that will help them to meet all of their goals. This will help them to take care of the necessities in life, including having a roof over their head, food to eat, and a way to pay the utilities. It also includes saving for future education, making investments, and acquiring money that can be used in case of an emergency. Financial planners are able to look at a family’s situation from a new perspective and then use their training to help the family accomplish their goals. They have the education and the know-how to make a family have a successful financial life now and in the future.
After a financial plan has been set in place, money will need to be budgeted that can be used on a weekly or monthly basis. At times, this can be a real challenge. Sticking to a budget requires self-discipline. One of the best ways for a family to stick to a budget is to make sure that everyone is on board. Everyone needs to understand what the family’s goals are and see how the money they spend relates to that goal. Parents can help their children to appreciate the value of money by getting them involved in their budget. Also, they can help them to appreciate how rewarding it is to reach a goal and then reap the benefits from it. For example, if parents can help their children understand the importance of sticking to their family budget, they can help them see how they can receive a reward in the end. If they save money, perhaps they will be able to enjoy a family vacation, purchase a new item for the home, or do something else that everyone in the family will look forward to and benefit from.
Money is not at the heart of happiness. However, when used wisely, it is a tool that can be used to contribute to a family’s happiness.