Keys to wealth creation (2)

Anyway, back to wealth creation, it is very simple actually, most people dont realise that due to the very strong influence of western culture and values on our way of life we are actually involved in a process of wealth destruction without even knowing it.

Many of us are neglectful in the A'maal (good actions) which attract sustenance and also those that repel poverty, our expenses go on increasing and we dont attempt to build or buy any assets with the little time, energy and money that remains.

The biggest attractor of wealth is timely performance of Salaat so this is the first thing one should work on, not for wealth but knowing that while attempting to do it for the sake of Allah a side-benefit would be easier sustenance.

In expenses, note that i said control expenses, not reduce them, its easy to reduce ones expenses, but my intention is not to make people misers, rather take a close look at your expenses, your credit card bill, monthly instalments on your new car, your mortgage payments, or maybe you didn't regard these as expenses? this may bring about a paradigm shift because you will have to realise these are expenses, your own home is not an asset, it is a liability that takes out money from your pocket every month, that money is an expense, even if you dont owe anything on the house, there still are expenses, so am i saying get rid of your house?, no, just start looking closely at your expenses. First thing in controlling your expenses is start putting away 10% of your income every month for investing, for buying/building assets, you might say that what you earn is just sufficient to tide you through every month, but you will notice that if you started doing this you would be none the poorer at the end of the month, as soon as you get it, out some away, don't touch it until you are ready to invest it, don't blow it on some impossible dream either, wealth creation is a long term process, nobody gets rich in a get rich scheme besides the schemers.

Then keep your eyes open for assets, things that put money in your pocket.