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.