You just celebrated Eid. Now set one financial habit that sticks.
Eid is over. Ramadan reflections are still fresh. This is the best window to set a financial habit that lasts the rest of the year.
Most people who start investing do so because of a moment of clarity. Ramadan is one of the best sources of that clarity. The problem is that moment fades fast once normal life resumes.
Here is how to lock it in before it fades.
Step 1: Open the account. If you do not have a halal investment account yet, open one this week. Not next month. This week. It takes 10 minutes. US: Roth IRA at Fidelity or Schwab, then buy SPUS. UK: Stocks and Shares ISA at Trading 212 or InvestEngine, then buy HIWS. Australia: Hejaz Super or a self-directed account with HIWS.
Step 2: Set up an automatic monthly transfer. Pick an amount you will not miss. Even 50 pounds or 50 dollars per month. Set it to go out the day after payday so you never see it sitting in your current account. Automation removes willpower from the equation.
Step 3: Delete your brokerage app from your home screen. Seriously. Checking your portfolio daily is the fastest way to make emotional decisions. Move the app to a folder you rarely open. Check it monthly at most.
The difference between people who build wealth and people who talk about building wealth is usually one thing: they automated a habit early and then left it alone.
You do not need to be an expert. You do not need to pick stocks. You need one halal ETF and one standing order. That is genuinely it.
What is the one financial habit you are committing to this week?
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Mohamed Elansary
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You just celebrated Eid. Now set one financial habit that sticks.
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