Fatwa: # 40326
Category: Business Matters
Country: United States
Date: 17th August 2018


Saving money


I recently started earning and I am going to get married soon. I have some questions regarding saving money and storing it in some form, which if things goes south some time then I dont have to ask someone.

1. I want to know whether is it allowed for me to have savings?

2. Is there a limit to how much I should save?

3. Should have a lavish lifestyle (with no savings, spent what I earn), mediocre lifestyle (spent in limit, save in limit) or stingy lifestyle (spent less, save maximum)?

4. Also for a family of two in America what amount do you suggest as a minimum to have as savings?


In the Name of Allaah, the Most Gracious, the Most Merciful.

As-salaamu ‘alaykum wa-rahmatullaahi wa-barakaatuh.

Brother in Islaam,

The answers to your queries are as follows:

1.      It is permissible for one to have savings; hence, the rulings of zakaah.

2.      There is no limit to how much one may save. However, one should ensure that the zakaah of their wealth is being paid appropriately.

3.      Islaam encourages equilibrium and moderation in all aspects of our lives, including our economic lifestyle. Consider the following verses:

وَالَّذِينَ إِذَا أَنْفَقُوا لَمْ يُسْرِفُوا وَلَمْ يَقْتُرُوا وَكَانَ بَيْنَ ذَلِكَ قَوَامًا

Translation: “And [the true servants of the Most Merciful are] those who, when they spend, are neither extravagant nor miserly, but [instead] hold a middle path [between both extremes.]” (Al-Furqaan v.67)

In his Ma’ariful Qur’aan, Mufti Shafi’ (Rahimahullaah) explains that this verse is applicable to all aspects of our lives, including our lifestyle[1].


وَلَا تَجْعَلْ يَدَكَ مَغْلُولَةً إِلَى عُنُقِكَ وَلَا تَبْسُطْهَا كُلَّ الْبَسْطِ فَتَقْعُدَ مَلُومًا مَحْسُورًا 

Translation: “And let your hand not be tied to your neck nor stretch it completely, else you become blameworthy and in poverty.” (Al-Israa v.29)


Rasulullaah (Sallallaahu ‘alaihi wasallam) said,

الاقتصاد في النفقة نصف المعيشة[2]

Translation: “Moderation in spending is half of living.” (Shu’abul Imaan 6148)


It is important to remember that we will be accountable for every penny, how we earnt it and how we spent it. Hence, although it is permissible to enjoy lavish lifestyles, simplicity and moderation is commendable.

4.      We advise you to discuss this with your colleagues and/or a financial advisor.


And Allaah Ta’aala Knows Best.   

Muajul I. Chowdhury


Student, Darul Iftaa

Astoria, New York, USA


Checked and Approved by,
Mufti Ebrahim Desai.



[1] Ma’ariful Qur’aan (English) (3/ 569)

[2]  شعب الإيمان (8/ 503)

6148 - أخبرنا أبو الحسن علي بن محمد بن علي المقرئ، أنا الحسن بن محمد بن [ص:504] إسحاق، أنا الحسن بن سفيان، ثنا هشام بن عمار، ثنا مخيس بن تميم، ثنا حفص بن عمر، ثنا إبراهيم بن عبد الله بن الزبير، عن نافع، عن ابن عمر قال: قال رسول الله صلى الله عليه وسلم: " الاقتصاد في النفقة نصف المعيشة، والتودد إلى الناس نصف العقل، وحسن السؤال نصف العلم "




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