Have you ever thought about how to Increase Barakah in your Wealth? As Muslims, acquiring wealth is allowed as long as we obtain it in the right way and not become our primary focus and forget about the afterlife. Building wealth should not lead to us becoming selfish, arrogant, or attempting to accumulate it illegally. Some of the Prophet’s (pbuh) companions, such as Abu Bakr and Uthman (ra), were extremely wealthy. Uthman (ra) had so much money that he could fund an entire army! As long as we remain true to our faith and seek proper ways to accumulate wealth, this is a blessing from Allah for which we should be grateful. In the following, we will share four tips on how to increase barakah in your wealth.
How to Increase Barakah in Wealth
1. Give Sadaqah
“Indeed, the men who practice charity and the women who practice charity and [they who] have loaned Allah a goodly loan – it will be multiplied for them, and they will have a noble reward.” (Al Hadeed 57:18)
” Who is it that would loan Allah a goodly loan so He may multiply it for him many times over? And it is Allah who withholds and grants abundance, and to Him, you will be returned” (Surah Al-Baqarah, 2:245)
The Prophet (pbuh) taught us that when paying Sadaqah, people will see the mirage of decreasing wealth. But actually, Allah is diverting more wealth into our possession in this world than what we have donated.
2. Avoid Riba
“Allah destroys interest and gives increase for charities. And Allah does not like every sinning disbeliever” (al-Baqarah 2:276).
Earning from riba will give you no barakah. Islam highly promotes justice, while riba is the opposite of it. Riba makes the rich richer and the poor poorer. Riba or interest is seen as justifying and often spreading social inequality.
3. Avoid an Extravagance Lifestyle
“And eat and drink, but waste not in extravagance. Certainly He (Allah) likes not those who waste in extravagance.” (Qur’an 7:31).
Extravagance is called ‘Israf’, and wasting is called ‘Tabdhir’ in Islam, and both are prohibited. Muslims have been urged to stay away from extravagant spending. Instead, directing their excess wealth toward meeting the needs of the poor as a service to humanity will benefit himself and the ummah.
4. Strengthening the Ties of Kinship
Prophet Muhammad s.a.w said, as reported by Imam Al-Bukhari:
“Whosoever fears his Lord and restores relations, his life will be lengthened, his wealth expanded, and his family will love him.”
Silat-ur-Rahim plays a vital role in Islam. Therefore, be kind to your family and maintain a positive relationship with them; all good will come to you.
Anas ibn Malik (RA) narrated that the Messenger of Allah (peace be upon him) said: “Whoever loves that he would be granted more sustenance and that his life span would be prolonged, then he should unite his ties of kinship.” (Bukhari & Muslim)
Abu Hurayra (ra) reported that the Prophet (pbuh) said, “Wealth does not mean having a lot of property. Wealth means having self-contentment.” [Al-Adab Al-Mufrad]
Another thing that could bring barakah to your wealth is to ensure that your income comes from halal sources. If you invest in the equity market, make sure you invest only in halal stocks. Because upholding your faith in your investment would bring peace of mind without worrying about earning from unlawful (prohibited) sources. Musaffa has built a halal stock screener to help you align your investment with Islamic values. Feel free to sign up at Musaffa.com to find the halal stocks you can invest in.
Visit Musaffa Academy to read more articles about halal investment and Islamic finance.