Potting her way to financial liberation

So three days ago, I picked up an old copy of sister’s magazine, issue #51 to be precise. I don’t know if it is just me but anytime I pick an old book or magazine or even an article to reread, I find gems I did not see the first time.  Anyways, I came across this superb article “potting a way to financial liberation”.

We all need to be financially liberated especially with the present economic crisis meltdown. As I read on, I started potting my own way. I was pleasantly surprised when I saw the author’s idea of a treat was pencils and notebooks as is mine. Oh yes, the author of this article was no other than  ‘The LaYinka Sanni’.

She basically sorts out her monthly income into ‘pots’ – necessities(55%), untouchable savings (10%), touchable savings (10%), education/enrichments (10%), self/treats (10%), and charity (5%). The hard part for me was deciding what constituted my necessities. The easiest was treats (bookmarks, pencils, notebooks and pens).

This article would be of help to anyone who wants to be free financially. As I discussed with others, I found out, the percentages might vary so find out what works for you. It would be easier if there is a consistent stream of income but should there not be, percentages could still apply. A financial plan would indeed make money less of a focus and free brain power for other activities.

Something else I figured out is that it would be a good way of continually giving charity. Making the action more loved by  Allah (SWT).

“I honestly do not consider the money from this pot as my income. My mind has already deducted the 5% from the monthly budget, as it is a purification of our finances more than anything else”  – LaYinka Sanni about charity pot.

The content of sisters magazine is now available for free at http://www.sisters-magazine.com.

Read and share.

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26 thoughts on “Potting her way to financial liberation

  1. Papatia says:

    *Recycling fb comment* :p Very cool. I had something like that in Hayati magazine but it’s a lengthy text. A bit technical since that’s my area of expertise. I like the percentage she gave. It’s easy to remember. We, as a ‘women’, need to be financially empowered because I see good finances as a camel or a horse where when we’re on top of it, we are amazing coreishys! Awesome masha’Allah.

    Like

  2. Amina Edota says:

    Jazaakillah for sharing your discovery.

    It is a beneficial write up. I found it fascinating the first time I read it – I think it was on the Productive Muslim site.

    Great insight: ”A financial plan would indeed make money less of a focus and free brain power for other activities.” I agree 100%…

    Like

  3. Kai says:

    the only thing they don’t teach in school is how to be financially educated. unless you are a business student, you don’t really get to learn this in school.

    Like

  4. umm asiya says:

    Forget about saving, living in San Fransisco Bay Area is taking it’s toll on us. Because life here is expensive I have started to coupon and take advantage of online deals in order to save on the things we need. Alhamdulilah, Thats also the reason behind http://www.themuslimahguide.com/deals/ which I hope will help other sisters take advantage of the online deals by Muslim businesses.

    Like

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