Alhamdulillah….It has been quite some time since my last blog post, but I am excited to announce that I am back in action and ready to share more practical and shariah compliant financial planning strategies with you. 🙂
As you may know, Islamic Financial Planning is an important aspect of our lives, especially in a fast-paced city like Singapore.
However, many of us struggle to find financial solutions that align with our values and beliefs. That’s where shariah compliant financial planning comes in, offering a holistic and ethical approach to managing our finances, the Halal way.
No Riba. No Maysir. No Gharar.
Alhamdulillah. I am now a full fledged independent financial advisor in Singapore.
Which means, I am able to handpicked and specially curate for you the best Islamic Financial solutions from 15 different insurance companies in Singapore.
I have your best interest at heart.
With the grace of Allah S.W.T., I will also be sharing with you some of the latest and most effective financial planning strategies, specifically tailored to the needs of Singaporeans Muslims like us who are looking to build wealth while staying true to our faith.
From investments that are compliant with Islamic laws to budgeting and saving tips, I will be covering it all in my future blog posts.
I believe that Islamic Financial Planning in Singapore should not be a daunting task.
With the right guidance and knowledge, anyone can take control of their finances and reach their financial goals.
So, whether you are a beginner or an experienced investor, I invite you to join me on this journey to a brighter financial future.
Amin… Amin… Insya’Allah…
With that, I will like to end with. FINANCIAL CONSULTANT, HELMI HAKIM IS BACK! 🙂
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Now…
If you are seeking a mentor, coach, consultant to share with you practical aspects on how you can plan your finance, the shariah compliant way in Singapore, I am always ready to help you.
I know that many of you out there are having a roller coaster ride this year 2021.
Some cannot sleep at night. Heart feels uneasy.
Debts around your waist.
Insurmountable challenges weight down on your shoulders (and the burden feels just too heavy!) Many are very worried about the future. 🙁
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The Covid19 pandemic around the world has impacted us again in Singapore!
It’s a strange kind of feeling where we now have heightened measures this time round
which feels quite similar to the painful circuit breaker we had last year.
Officially we Muslims in Singapore only celebrated 3 days of Hari Raya Puasa with 5 unique visitors per visit. And now, we are back home
with our children occupied with full home based learning.
Back to square 1.
The point where we first started. 🙁
I took some time to reflect on my life and read books for inspiration to lift myself up.
Maintain my sanity.
And make myself feel better.
I want to share these life saving secrets with you.
I want to tell you, despite all challenges, all setbacks that befall us, never lose hope that the brighter future awaits us.
Presenting….
5 Secret Ways To Make Yourself Feel Better When Handling Challenges In Your Life
Read on…
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1. When life gives you lemons, make lemonade.
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I always believe this.
Focus. Be in Control.
Take charge. Empower.
Be at the driver’s seat. Steer the wheel.
And the only way you can do that is by following this mantra. When life gives you lemons, you turn that sour lemons into a sweet lemonade drink. Add a lot of sugar to it. 🙂
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Basically, turn your ‘challenges’ into “something you can be grateful for”.
Alhamdulillah…..Reframe your challenge No 1 Alhamdulillah…. Reframe your challenge No 2 Alhamdulillah….Reframe your challenge No 3 Alhamdulillah….Reframe your challenge No 4 Alhamdulillah…Reframe your challenge No 5
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Examples for me…. 🙂
Alhamdulillah. I can now work from home and can spend more time with my family.
Alhamdulillah. I can now pray awal waktu for my 5 daily prayers at home. I can be a full time imam for my family.
Subuh, Zuhur, Asar, Maghrib and Isyak 🙂
Alhamdulillah. Responsible measures are finally in place to ensure that Singapore is one of the safest places on this earth.
Alhamdulillah. Since offline strategies are non existent, I need to learn & embrace NEW social media strategies like Instagram and TikTok to reach my customers.
Alhamdulillah. Now is a good time to watch my diet since we can’t dine out at restaurants.
Alhamdulillah Ala Kulli Hal. All praise to Allah S.W.T. for everything…
When you do this, you are placing yourself in a more EMPOWERING position to confront any challenges in your life.
You see things from a different perspective.
You feel in control.
I have been doing it for a while to maintain sanity and
make myself feel better.
Especially when I am down.
And I need to rise up back! It works for me most of the time! Try it for yourself! 🙂
2. Allah does not burden a soul beyond it can bear
In life, definitely there will be challenges.
Yet.
Sometimes, I feel that the challenge is too BIG for me to overcome.
Tried to reframe. Yet felt powerless.
Feel hopeless.
Helpless. Weak.
Like nothing can be done. Nothing!
When that happened, I recall this ayat from Allah S.W.T.
ALLAH does not burden a soul beyond it can bear
ALLAH does not burden a soul beyond it can bear
ALLAH does not burden a soul beyond it can bear
I always believe that everything that happens to us happens for a reason. And the reason is to serve us.
For every musibah that befalls us, there will be hikmah.
We have to be patient with Allah’s test and move ahead.
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3. What doesn’t kill you makes you stronger
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I realised that whenever challenges come to me, it is a sign that Allah S.W.T
wants to lift my martabat.
wants to make me stronger.
wants to prepare me for something big.
We won’t know what we are capable of unless we persevere. We cannot discover new oceans unless we have the courage to lose sight of the shores.
Time and time again what I have learnt is that when we face setback.
When life throws stones at us. And we feel pain.
Endure it a bit. Tahan.
Because pain is temporary.
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Take 1 step forward.
And 1 more.
And 1 more.
Whatever it is, just keep moving forward.
Soon you will realise that all this pain is over
and you can grasp your goals with your 2 hands.
Good things will come.
Never falter. Or worst, never quit.
Because pain is temporary. Quitting lasts forever.
4. Do your best to steer away from Riba
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Within your hearts, plant a niat that you will do your best to steer away from RIBA.
From interest based loans. Allah S.W.T. told us in the Holy Quran 1400 years ago that Riba is Haram.
There is no barakah in it.
My friends,
Don’t be over-consumed with the vicious rat race.
Never compare yourself with others.
Wow! That person has nice car.
Wow! That person has nice house.
Wow! That person has XXXX…
List never ends.
Keeping up a lifestyle you can’t afford.
And when you can’t afford, you take loans with interest.
Again. There is no blessings in it.
Impossible for Allah to set the secret of happiness and contentment of the heart on something that is prohibited.
Too many people spend money they don’t have
for the things they don’t need,
to impress people they don’t like.
Free yourself from the chains of Riba. You will feel good.
You will nurse the unease in your heart and will be always be at peace with yourself.
You will feel better and live life on your own terms.
Not on other peoples’ expectations!
If you have the inkling to compare yourself with others, go on and compare.
Yet make it a source of inspiration.
And not a cause of depression.
And if you feel stressed, very easy. Close facebook. Close instagram. Close tiktok.
Just focus on yourself. Have faith in yourself.
Focus ONLY on your progress.
Because Your Progress = Your Happiness!
5. You will be completely feel at ease when you firmly believe that everything in this world happens by the will of Allah
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We always hear of this Arabic proverb.
Man Jadda, Wa Jadda.
Whoever strives shall succeed.
This time round, change it to Man Fi Sajaddah, Wa Jaddah.
My friends,
Our hard work is not just the hustle and bustle with fellow human beings on this planet. Our hard work is equally, if not MORE important on the sajadah.
On the prayer mat when we sujud to Allah S.W.T.
Allah hear our cries for help. Release all the burdens on your shoulder.
Seek his divine intervention.
Surrender to Allah.
Understand this.
Whatever that happens in this world is beyond our control
Don’t be despaired on things that you cannot control.
Don’t think…..
that you can stop the rain from falling.
The sun from rising from the east.
The moon from glowing.
The stars from twinkling bright at night.
Don’t.
If you have done your best and things still happen, believe me that its meant to be.
Don’t say, if I do this. This wont happen.
If I do that, that wont happen.
I should have done this.
I should have done that.
Instead say… Everything happens by the will of Allah. Whatever He wills happens,
and whatever he does not will does not happen.
We do our best. Let Allah do the rest.
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(An advice that I remind myself when I was hospitalised 2 years ago. Very relevant today!)
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Now… I hope you have benefited from my personal sharing, 5 Secret Ways To Make You Feel Better When Handling Challenges In Your Life…
If you are seeking a mentor, coach, consultant to share with you practical aspects on how you can plan your finance, the shariah compliant way in Singapore, I am always ready to help you.
Alhamdulillah. Since year 2007, I have been privileged to advise thousands of Singaporean Muslims on planning their finance in Singapore.
And of course, there were many concepts
that I used to make my financial planning presentation more vibrant, relatable and meaningful. 🙂
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(Alhamdulillah. Blessed to have the opportunity to share my financial planning ideas recently with our Brothers and Sisters in Pasir Ris Punggol.)
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I love to use Malay Idioms (Peribahasa) in my financial planning presentations.
I love Malay Idioms because they are evergreen and full of wisdom that transcends ages.
Peribahasa that were commonly used during the P Ramlee time of our Pakcik Pakcik, Makcik Makcik
Still applicable today in the “Instagram/Tik Tok”year of 2021.
And will be also be applicable in the future years to come!
Insya’Allah! 🙂
Amongst them,
these are the 7 most popular Malay Idioms that I use to help my clients plan their finance better in Singapore.
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1) Sediakan payung sebelum hujan
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Prepare yourself an umbrella before it rains.
In my professional opinion, you must not only prepare yourself an umbrella before it rains.
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You must make sure that your umbrella is BIG ENOUGH so that you and your family don’t get wet when it rains.
In financial planning context,
how do you prepare and ensure that your “umbrella” is BIG ENOUGH to protect you and your family when in need?
Firstly ensure that you have at least 3-6 months of emergency funds in your bank account at all times.
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If you spend $3000/mth.
$3000 X 3 months = $9000
You need to ensure that you always have $9000 in your bank account at all time.
Why?
If you fall sick, you need to see the doctor.
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To see the doctor, you need money. You dont want to susahkan your family members by borrowing their money.
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And tomorrow, nauzubillah if suddenly you got retrenched,
at least you can survive 3-6 months while looking for another job…..
Got some space to breathe. Not kancheong!
This is very important my friends.
Because we don’t know how long this Covid19 pandemic is here to stay! So make sure that you have 3-6 months emergency funds with you at all times! 🙂
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Secondly, you need to make sure that both you and your family are comprehensively covered with a HOSPITAL INSURANCE PLAN.
In my many years experience as an Islamic Financial Consultant in Singapore,
I realize not all people are in debts due to poor financial management.
Some of them are due to victim of circumstances.
Family and loved ones hospitalised and saddled with hefty medical bills.
And they started maxing their credit card debts to pay those bills.
The reason why they did so because they weren’t eligible for any financial assistance based on their income.
They then face difficulties in paying off their credit card bills.
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My friends. A simple hospital insurance plan can help save you from this kind of situation.
A hospital insurance plan can help cover your bills.
(I was hospitalised in year 2019 due to a viral infection.)
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Alhamdulillah my hospital bills of $29,144 were taken care by my hospital insurance plan!
If I did not have a comprehensive hospital insurance plan in place, I can look you in the eye and tell you. Koyak beb my pocket! 🙂
2) Alah bisa, tegal biasa
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Alah bisa, tegal biasa.
Something difficult will become easier if we always do them repeatedly.
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As an Islamic Financial Planner, I always share with my clients that there are 2 types of money habits.
Good Money Habits
Bad Money Habits
Examples of Good Money Habits
Save 1st, then spend.
Have enough emergency funds
Have Hospital insurance plans.
Prudent and responsible financial management
Examples of Bad Money Habits
Boros. Spend more than you earn. Borrow other people $$$ and never pay back.
Pay your bills late
Failing to plan for your future
Sometimes when we have been so used to BAD MONEY HABITS for many years of our lives.
It becomes difficult to CHANGE that bad money habits to good money habits.
I always share with my clients. Alah bisa, tegal biasa.
Something difficult will become easier if we always do them repeatedly.
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Alaaaaaahhhh….. It is like when you first learnt to ride a bicycle.
You lose your balance, you fall.
You rise up back!
You fall again and again…But you never give up!!
Soon riding a bicycle becomes a 2nd nature to you.
Anytime anyone gives you a bicycle, you can ride it easily.
Alah bisa, tegal biasa.
At first difficult…..
You do it repeatedly… After that, it becomes easy and becomes a 2nd nature to you!
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My friends,
From my research, if we do something 21 days repeatedly, a new habit will be formed…
I want to help you install a POSITIVE money habit!
Everyday we go out.
We spend money.
We spend money at the market. We spend money at the coffeeshop.
We spend money at the shopping malls. For the next 21 days, what I want you to do is that I want you to leave the dollar notes in your wallet.
And take out all the coins and put in a tabung…
(If you don’t have a tabung, you can start with biscuit tin first! Most importantly, start doing it today! )
Do it for 21 days consecutively and Insya’Allah you will find yourself installing a new POSITIVE money habit!
Saving money everyday becomes a 2nd nature to you. Alah bisa, tegal biasa! 🙂
3) Sedikit sedikit, lama lama jadi bukit
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Literally, bit by bit, after a while, it becomes a hill!
Do small things. Repeat over and over again until it becomes big.
Some people complained to me.
“Helmi. Difficult lah for me to save money. Kais pagi, makan pagi. Kais petang, makan petang.”
How to save money?
I always share with them. No money today does not mean no money forever! 🙂
So how can you kickstart your journey to save money bit by bit and until you have a substantial amount?
Introducing you the 52 week Money Challenge
For those who do not have emergency funds in your bank account,
you can do this as part of your new year resolution to be self sufficient.
1st week, save $1. 2nd week, increase.You save $2 for that week.
Following week, increase some more $3 for that week. Sedikit sedikit, lama lama jadi bukit.
By end year 2021, you would have saved $1378 Cash!
Add this money to the money you save in the tabung for strategy No 2,
you will start to realise that Alhamdulillah you have finally saved up your 3-6 months emergency funds!
4) Genggam Bara Api Biar Sampai Jadi Arang
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Genggam Bara Api Biar Sampai Jadi Arang.
When you are doing or starting a challenging task, you need to pursue it until you have reached your goal.
My friends, A lot of people can begin something.But not many can finish it.
One of the characteristic of successful people.
They begin something and they make sure they see it through the end. They finish what they started!
My friends, There is no magic pill that you swallow and suddenly you have a lot of money.
Success comes in a package of hard work.
Rejections.
Failures.
Mistakes.
Criticisms. All the sacrifices that these super successful people go through.
And the most important thing is never give up.
Work until you achieve your goals.
You do things nonchalantly, you will get meagre, lacklustre and nonchalant results.
My friends,
Success takes time. No one in this world gets married today and gets a child tomorrow.
It involves process. Be patient.
and trust the process.
People who give excuses. Their lives will be full of excuses.
You give your best, you get the best!
Successful people begin something and they make sure they see it through the end. Genggam Bara Api Biar Sampai Jadi Arang!
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5) Melentur Buluh Biarlah Dari Rebungnya
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Literal translation “To bend a bamboo, start when it’s a shoot.”.
Teach your child good money habits when they are young.
Example…
To me, this is not the right way of educating our children on money.
Stop doing that.
If you have been doing that….
Save first and then spend.
When you inculcate this good money habit of, “Save First, Then Spend” to your children.
When they grow up and start working, that is what they are going to do when they receive their paycheck.
Save first and spend! Alhamdulillah….
We fulfil our obligations as a financially educated parent.
And what is the most beautiful part?
They will then educate their children of the same money principles, “Save Money First and then Spend.”
Masya’Allah…. You are inculcating good money habits not just for yourself or your children. You are inculcating good money habits for your generations to come!
Melentur Buluh Biarlah Dari Rebungnya! 🙂
6) Ukur Baju Di Badan Sendiri
Ukur Baju Di Badan Sendiri.
Spend according to your kemampuan (affordability)
My friends,
we need to differentiate between needs and wants. Needs… Keperluan. Wants… Kemahuan.
Needs is MUST HAVE.
Essential. Something that you must have to survive.
Wants is something good to have.
Not essential for survival.
Example of needs… House, transport, insurance, food
Example of wants…
Staycations, Entertainment, Designer Clothes, Dine at expensive Restaurants
My friends,
In order to be financially stable, we must be prudent with how we spend our money….
Don’t Spend Money that you don’t have to impress people you don’t like.
Ukur Baju Di Badan Sendiri. Spend according to your kemampuan (affordability)
7) Air Dicincang Tidak Akan Putus
Air dicincang tidak akan putus.
‘Blood is thicker than water’.
I am a firm advocate of this peribahasa.
Because why?
Because I always believe that there is rezeki in silaturahim.
We know the financial planning strategies already.
At the same time we know that rezeki is all from the source. Allah S.W.T.
If our parents are still alive, we are very lucky.
Always ask blessings and doa from our parents. They are our keramat hidup. Redha dia, redha Allah.
And maintain good relationship with others.
If sometimes, you quarrel with others, do your very best to forgive and mend that relationship.
I know its difficult, but do your best.
Seek forgivesness and mend ties.
Because why?
Because there is rezeki in silaturahim.
(Me and my family)
This is my family. Alhamdulillah, they are super supportive of what I do. I regard them as my strength.
As my BIG WHY to persevere in what I do! 🙂
Air dicincang tidak akan putus! 🙂
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I would like to wrap my presentation with a serangkap pantun.
Kusangkakan panas sampai ke petang
Rupanya hujan di tengah hari
Berjimat cermat bila ada wang
Supaya tenang di kemudian hari
Thank you my friends! 🙂
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Now… I hope you have benefited from my personal sharing, 7 Malay Idioms To Help You Plan Your Finance Better in Singapore…
If you are seeking a mentor, coach, consultant to share with you practical aspects on how you can plan your finance, the shariah compliant way in Singapore, I am always ready to help you.
I also share with you my free video, “5 Shariah Compliant Ways To Save More Money in Singapore.”
If you have yet to download it, please download the FREE video now.
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5 shariah compliant ways to save more money in Singapore are like the seeds to grow your tree.
Without the seeds, THERE WILL BE NO TREES!
Only after downloading and watching the video above, you should proceed to read this post.
Reading this blog post and applying the strategies immediately is like taking those seeds and planting them now.
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In this blog post, I will share with you the roots. The leaves. The trunk.
The branch. The twig. The flowers.
And of course, the FRUITS!!! 🙂
“Fruits of Riba Free Lifestyle” tree
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I will share with you on how to make it easier for you to be DEBT FREE in Singapore.
Warning: This blog post is quite long. Jam packed with super simple yet powerful strategies. Bookmark this page so that you can always refer to it. 🙂
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1) Increase your income.
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1 of the fastest way for you to clear your debt fast in Singapore is to EARN MORE.
Earn higher.
I am talking about your disposable income.
Money that goes into your pocket.
Simple logic.
If more money flows into your pocket every month, easier for you to be debt free.
I have created a series of videos here on how to double your income, the shariah compliant way in Singapore. Listen in! 🙂
2) You must want it.
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Yes. It is as simple as that.
You must want to be debt free in Singapore.
If you don’t want, no matter what kind of strategies I share with you. It wont work.
I do know of many who see debt as a tool to become rich.
Its called Leverage.
In fact, today if you were to meet 10 financial consultants,
9 will encourage you to take more debts as long as you can fulfil TDSR. (Total Debt Service Ratio)
Especially in today’s low interest rate environment.
Fact of the matter, today as a financial planner, I also can show you multiple strategies on how to make money by taking more loans.
But as an Islamic Financial Planner, I CHOOSE toshow you strategies to make money by avoiding, reducing and clearing your riba based loans.
Avoiding, reducing and clearing your Riba based loans to seek baraqah from Allah S.W.T. is the central core of my wealth accumulation strategy.
If we need to leverage, we leverage using Halal means. Without riba.
Because why?
Because we seek redha from Allah S.W.T.
We want to be happy in this dunya. And we want to be happy in the akhira.
Insya’Allah. Allah will make it easier for us when we do our level best following his commandments by avoiding riba.
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Others go by the mantra, Hutang hari ini, hutang selamanya.
I adopt a different position. Hutang hari ini, LANGSAIKAN SEMUANYA!
So first thing first, whatever strategies you advocate.
You must want to be debt free in Singapore.
You can have 1001 financial strategies. Yet being debt free must be your core objective from day 1 you start to plan your financial goals.
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3) You must track it.
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Work closely with your financial advisor. And track your personal finance very closely.
Your networth statement. Your cashflow statement.
Your 7 financial ratios.
To me, this is the most basic thing one must do in Singapore.
Especially if you intend to be Debt Free in Singapore.
Remember the “Fruits of Riba Free Lifestyle” tree I shared with you earlier?
( “Fruits of Riba Free Lifestyle” tree)
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Your networth statement. Your cashflow statement.
Your 7 Financial ratios are like the roots of a tree.
If the roots are not strong and the wind blows, Your tree will tumble.
You need to know your numbers at the back of your hand. And make sure everything is in order.
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(Halal Financial Plan that I created for my beloved clients)
(Halal Financial Plan Safety Card that all of us need to follow closely)
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If you want a personalised 10 page Halal Financial Plan like the one I created for my clients above ,
click here to arrange “Your Financial M.A.P.” session for FREE via Zoom!
***I can guarantee you that this Halal Financial plan is different than any financial plan you can see out there.*** It is designed specifically for our Muslim community in Singapore.
I have removed all the jargons and simplify it for you.
Financial reports that usually run into 40-50 pages (who has time these days to scrutinise 1 by 1 those thick, confusing reports?),
I summarise them into 10 colourful pages.
In fact, I make it so easy for you that even your Primary 6 child can join in and have fun to interpret your numbers! 🙂
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Not only that!
As a special bonus, I will also share with you my exclusive, personalised housing loan riba spreadsheet for FREE.
From there you will be able to know how much of your monthly loan instalment goes to riba, and how much exactly goes to pay off your outstanding balance.
You can also find out how much riba you can save every year by paying your principal amount quickly.
If you pay housing loan instalment of $1000/mth, how much goes to principal, how much goes to interest?
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If you pay housing loan instalment of $1000/mth consistently for 5 years, what will be your outstanding balance then?
If you pay housing loan instalment of $1000/mth consistently for 10 years, what will be your outstanding balance then?
If you pay housing loan instalment of $1000/mth consistently for 15 years, what will be your outstanding balance then?
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If you know your numbers, only then you can Super Duper Focus on working your way up to reduce your unnecessary expenses and accumulate funds to pay the loans off.
Numbers give you purpose. It gives you energy and momentum.
You cannot hit a target you cannot see.
If you want me to give you Halal Financial Plan
+ exclusive, personalised housing loan riba spreadsheet (only for the first 10 lucky candidates),
schedule “Your Financial M.A.P.” session (Zoom Edition) for FREE now!
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4) You must position yourself to attract rezeki FIRST
and only after that work hard to receive it.
Let us do a simple yet profound exercise now.
I want you to find ants in your house now.
If you are in office, find ants in your office.
Do it now!
Search high and low. Is it easy to find the ants? 🙂
No. Its challenging for most of us! 🙁
Especially if we keep our house or office clean, neat and tidy at all times.
Very difficult to find those ants.
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Now what I want you to do is to change your strategy.
Get some sugar.
And I want you to pour them all over your house.
Wait until tomorrow. And see what happens.
Definitely, you will see a lot of ants! 🙂
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My brothers and sisters,
Similar to our rezeki. Our sustenance.
In order to have more rezeki,
we have to position ourselves to receive more rezeki from Allah S.W.T
FIRST!
BEFORE anything else!
We do so by taking care of our relationship with Allah S.W.T.
By obeying Allah’s commandments and staying away from what is prohibited.
My brothers and sisters,
You can implement 1001 strategies.
Toil day and night.
If Allah doesn’t allow it to happen, it won’t happen.
How do we do obey Allah’s commandments
in the context of managing your personal finance?
Always seek prayers from your parents
in whatever business endeavour that you do.
Remember toZakat your cash/investment/ Halal insurance once you reach the Haul and Kadar Nisab.
Infaq.
Sadaqah. Help those who are in need.
and most importantly by ensuring that every single step in our financial planning journey is shariah compliant. Free from Riba, Maysir and Gharar. In short, Halal.
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Only after positioning ourselves to receive rezeki, we put in effort and work hard for it.
Yes work hard for it.
My brothers and sisters…. There is no magic pill that you can swallow.
And suddenly make your your riba based loans disappear.
The Malay proverb says,
Yang bulat tidak datang bergolek,
yang pipih tidak datang melayang.
Kalau tidak dipecahkan ruyungnya,
mana nak dapatkan sagunya?
The Arabic proverb says
Man Jadda, Wa Jadda.
Siapa berusaha, dia dapat.
Put in your 101% effort. Trust the process.
And leave the natijah to Allah S.W.T.
Ya Allah. I surrender. I have done my very best. And I leave it to your decree.
5) Make Your Money Work Harder
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Last but not least, after you follow my strategies that I shared above, and Masya’Allah, Alhamdulillah…
Tabarakallah…. You become cash rich.
It’s time to make your money work harder for you.
In fact, the secret sauce to wealth creation is to grow the money you have.
Invest in Halal stocks. Invest in Halal bonds (sukuk). Invest in Halal commodities (gold, silver, oil etc2). Invest in Halal businesses.
Subhanallah! 🙂
Question here.
Will all the Halal stocks,
Halal bonds (sukuk),
Halal commodities (gold, silver, oil etc2),
Halal businesses in the world make money?
No. Of course not!
As a shariah compliant investor, you only want to FOCUS on Halal stocks, Halal bonds (sukuk), Halal commodities (gold, silver, oil etc2), Halal businesses
that can help you MAKE MONEY.
The one that can lose money, the ones that will FAIL,
you want to AVOID them!
That is why you need experienced Islamic Financial Consultant like us to understand your needs, assess your risk profile and guide you.
Show you the way.
Alah………. It’s like you want to want climb Mount Kinabalu.
(Myself at Mount Kinabalu, one of the highest mountains in Southeast Asia)
You need an experienced guide to show you the way.
Educate you on what to do and what not to do.
Share with you tips and secret strategies to not only ensure you reach the peak safely.
You also want to make sure your journey up and down the mountain becomes a memorable and enjoyable one.
Capture pictures that you can share with your children and grandchildren in times to come.
Isn’t that beautiful? 🙂
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Now, scaling Mount Kinabalu is very similar to growing your hard earned money the Halal way with the intention to finally clearing your riba based loans.
You need a guide.
A competent Islamic Financial planner can help you 10 X your shariah compliant investment power
by sharing with you up to date, tactical and long term investment strategies.
(Example of whatsapp msg I broadcasted to my clients on 17th March 2020)
(And in 3 months, Halal investment portfolio value increases by 20% in terms of capital appreciation. Alhamdulillah….)
An Islamic Financial planner in Singapore is like a GPS for your financial success.
An Islamic Financial planner in Singapore shows you the first lane on the expressway to financial success
by revealing jealously guarded money making secrets you should know.
An Islamic Financial planner in Singapore shares with you common money mistakes people make and how to avoid them.
(You dont need to bang the wall a lot of times or worst go to a dead end. )
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My Bros and Sis. If you do things that you never done before, you will get the things that you never gotten before. Your life changes when you adopt rich Muslim money habits.
And it doesnt stop there.
Good money habits you learnt today, you can pass it to your children.
And they can pass it down to their children.
The cycle continues.
Can you imagine our future generation, living life without riba? Masya’Allah! 🙂
And today is the start of that wonderful journey.
Remember the 5 seeds of riba free lifestyle tree that I gave you earlier? Start planting them now!Bismillahirahmanirahim….
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Now… I hope you have benefited from my personal sharing, How To Make It Easier To Be Debt Free in Singapore…
If you are seeking a mentor, coach, consultant to share with you practical aspects on how you can plan your finance, the shariah compliant way in Singapore, I am always ready to help you.
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I have to put a clause here.
My intention of sharing my journey is not to riak or to show off. My intention sharing my journey is to encourage and inspire others to be debt free, as much as they can.
Being debt free is possible in Singapore.
I was in a dilemma if I should create this blog post. Share my journey, people say I riak.Dont share takut dosa, ilmu simpan sendiri.
However, after much considerations and requests from many, dengan lafaz Bismillahirahmanirahim (In the name of Allah, Most Gracious, Most Merciful) I decide to document my journey.
I will share with you 2 blog posts…….
This blog post, I will share, Why I aim to be debt free, my challenges and how to be debt free in Singapore.
The 2nd blog post, I will share, How to make it easier for you to be debt free in Singapore.
Keep an open mind. If not, (I am pleading with you) please don’t continue reading this blog post.
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If you are my client, you know that as an Islamic Financial Planner in Singapore, I have come up with a 4-prong approach to my personal finance.
1)Clear my HDB loan + Comprehensive Halal Insurance Coverage 2) Monthly Investment in shariah compliant fund + Top up when there is a market downturn (like the COVID-19 health crisis) 3) Shariah Compliant Stocks
(Act as turbo booster to increase investible assets value in networth statement for the next 5-10 years. Shariah compliant methodology adopted: Dow Jones shariah screening methodology + AAOIFI) 4) Additional Properties
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Alhamdulillah. I have achieved the first 2 stages.
(My final payment to fully clear my HDB loan)
(and finally Debt Free!)
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Alhamdulillah. Yes! I am now officially DEBT FREE! 🙂
It might look like a breeze at the seaside but fact of the matter, it is not.
It requires careful and meticulous planning.
It takes a lot of research.
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When I first got married, I did some personal reflection. (that is when most people start to get serious about life)
I set goals.
Being Debt Free is one of them.
It is ironic because since young, I have been taught about Good Debts.
and Bad Debts.
Good Debts like housing loans are good because interest rate is so cheap in Singapore. Bad Debtslikecredit cards with exorbitant 24% interest are bad. It should be avoided at all cost.
That is what mainstream financial gurus of this century has been advocating over the years.
And I agree with them.
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And in my job as a financial consultant, I preach the idea of being Debt Free.
Most people will look at me in a strange manner.
“Biar betik si dekni.”
I don’t fault them. Because I used to think like them.
I thought it was not possible.
I thought if you want to be debt free in this cosmopolitan sophisticated Singapore,
you have to hold high positions.
Maybe if you are an executive director of an MNC. A vice president of a company. A group division manager at least.
You know, someone with positions. Alaaaah…. Orang berkedudukan with status.
Then only can be Debt Free
If not, not possible.
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Yet, the reasons I still stick to my guns, hold on to my dreams and work myself up to be debt free in Singapore because of a few reasons.
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1) Life is unpredictable.
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Being a financial consultant since year 2007, I have experienced 2 crises. 2008-2009: subprime mortgage crisis. 2020: Health crisis that we are facing now.
The prospect of people losing jobs are real.
The prospect of business closing down are real. The prospect of one depleting their emergency funds in a time of crisis is real.
I see it with my own eyes. People are struggling.
Scared of the future.
Nauzubillah…. I pray it won’t happen to you.
To me.
Or to anyone I love….
Yet, it is comforting and a relief to know that if sh*t happens, at least we still have a roof over our heads.
Better still if the biggest financial obligation of our life has been settled.
In short, from a financial advisor’s perspective, my risk profile for home to stay and risk profile for long term investment is DIFFERENT. As a sole breadwinner in my family, I am very conservative in my approach for house to stay.
Yet, I am aggressive in my approach for long term investments.
2) Job disruption due to rapid development of technology
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Even before the Covid19 pandemic, I have seen major changes in the new economy.
Jobs are replaced by machines.
15 years ago, if I want to do fundamental analysis of companies, I have to download the company’s annual report 1 by 1.
(15 years ago, when I was a student in Ngee Ann Polytechnic)
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I had to create excel spreadsheet to do vertical and horizontal analysis.
Calculated the financial ratios. 1 by 1.
Everything did it by myself. Now, with Artificial Intelligence – with just a few clicks of a button, I can get all the answers I want.
Machines help me out with all that. The role of a financial analyst has being made redundant.
This AI thing is very REAL.
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Let me give you another example in my industry. The insurance industry.
One of the biggest insurance companies in Japan terminated 34 employees in their Actuarial department.
And replaced them with an artificial intelligence (AI) system that can calculate insurance payouts.
The firm believes it will help increase productivity by 30%.
And save $1.2 million a year in salaries.
Now, my point is, If that can happen in Japan, anything can happen in Singapore.
Now, if we are stable with a good job.
If we are stable, with a healthy, profit making business. It is good for us to be conservative on how we spend our money, clear our debts and prepare for rainy days. .
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3) Personal challenge to prove that it is possible to plan our finance the shariah compliant way in Singapore
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In my job as a Islamic Financial Consultant, I always see:
Myths.
Excuses. Justifications.
That in Singapore, it is impossible to plan our finances the shariah compliant way. Too difficult.
Of course, Singapore doesn’t have shariah compliant home financing facilities like, Murabahah, Ijarah Wa Iqtina or Musharakah Mutanaqisah.
For now, we make do with what we have.
Be it HLE loan or bank loan with the lowest interest. Try to clear it ASAP.
It can be done.
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Of course, Singapore doesn’t have the grand infrastructure or enjoy economies of scale to promote Islamic Finance financial instruments
like our counterparts in Malaysia or Indonesia.
Or even gulf countries like Dubai, Bahrain, Kuwait, Oman or Saudi.
(Me and my wife at Sultan Qaboos Grand Mosque in Oman)
(Beautiful interior of Sultan Qaboos Grand Mosque in Oman)
(Myself and the friendly Dai’s who promote the beauty of Islam at Sultan Qaboos Grand Mosque in Oman)
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For now, we make do with what we have.
Start growing your money the shariah compliant way in Singapore with as little as $5/day.
And don’t look down on that small $5/day.
That small $5/day can help kickstart your journey to be a Muslim millionaire in Singapore. Insya’Allah.
My goal as an Islamic Financial Consultant in Singapore is to lead by example. Create more success stories.
When people say, its impossible.Change it to “I M Possible”.
When people say, there is no market.Change it to we will CREATE the market. And will EDUCATE and GROW this niche market.
When people play it safe, we charge ahead and go on the offensive.
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It reminds me of the Roger Bannister story.
4 minute mile story.
Long long time ago, humans on this earth were led to believe that running 4 miles (equivalent to 4 rounds in the stadium) in less than 4 minutes is impossible.
Back then, nobody can run that fast.
Everybody believed that it was not possible.
They even had scientists and doctors to come on board and make a detailed scientific report to substantiate with “latest up to date data”.
Substantiate and prove that running 4 rounds in the stadium in less than 4 minutes is impossible.
Impossible because our human body is just not created in a way Impossiblebecause of our bone structure, muscle fiber, tissues, anatomy limited by design Impossible because….. (many more reasons why it wont work)
But you know what? Roger Bannister believes.
For years and years…. No one was able to break that record
Roger Bannister believes he is able to do it.
And he did it!
The amazing thing for me is not Roger Bannister could complete 4 rounds in the stadium in less than 4 minutes.
The amazing thing here is within the 1st week Roger Bannister broke the 4 minute mile, someone else did it.
And now thousands of people have done it.
Because people have the mindset, “If Roger Bannister can do it, so can I.”
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In my many years journey as an Islamic Financial Consultant, I met quite a number of people already cleared their housing loan in their 30s.
And they look very happy.
And they are just normal people like you and me. Having ordinary jobs.
Working 9-5.
Eat Nasi Padang at coffeeshops for lunch.
And sipping teh tarik gleefully.
The thing here is they look so “normal”. Don’t look like those sophisticated businessmen.
Or the “sovereign” type.
They are normal everyday people like you and me!
That is my aha moment. My “Roger Bannister” moment.
If they can do it, so can I.
(I watch this video every time I feel down and demotivated)
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Thus, I began interacting with people who share the same values as me.
I begin to ask the correct questions.
How can I make this work?
I began documenting things down. Identify the traits of financially successful people.
I develop Your Financial M.A.P. model and trademark it.
It is a simple 3-step model.
(Whatsapp Financial Consultant, Helmi Hakim at 96520134 to get free video, “5 Shariah Compliant Ways To Save More Money in Singapore”)
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Wallah….. These are the exact strategies I used to accumulate a lump sum of money fast.
Be it for my wedding. For my honeymoon.
For my renovation expenses.
For me to buy my car without loan.
And also Alhamdulillah, for me to clear my housing loan.
Again my intention of telling you all this is not to brag.
I just want to give you the assurance that I am genuine. I am real. I am your fellow Singaporean Muslim friend who walks the talk.
I understand your struggle and I want to help. Especially in this challenging times.
No bullsh*t. No textbook stuffs. Simple actionable steps that even a 13 year old can understand.
I am with you.
My advice to you is just listen in to my 7 minutes video.
And just follow step by step.
No need to think too hard.
As long as whatever I share does not transgress shariah, is not haram.
Just do it!
Give your 1oo%! Do your best and leave the rest to Allah S.W.T.
Go key in your details. And start taking action.
I will share in greater detail on how to make it easier for you in my 2nd blog post. Stay tuned. Wait for it. 🙂
5) Financial Independence is my ultimate goal
Many of you know the definition of Financial Independence.
When you are financially independent, it means your monthly passive income > monthly expenses.
When you clear your housing loan, it means you have lesser monthly expenses.
Thus, you need lesser passive income every month to achieve your financial independence.
Another benefit of clearing loan is that you will have lesser stress.
People with lesser money-related stress have a clear mind.
Their brains are not shrouded with how to survive in the vicious, never ending rat race.
Their brains can think creatively.
Innovate.
Create opportunities.
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Now… I hope you have benefited from my personal sharing, Clearing My 5 Room HDB flat loan at age 34….
If you are seeking a mentor, coach, consultant to share with you practical aspects on how you can plan your finance, the shariah compliant way in Singapore, I am always ready to help you.
A certified financial consultant, Helmi Hakim has won praise for his patience, perseverance and practicality when solving his clients’ financial concerns. For more information on how you can manage your finances better, contact Helmi Hakim at 96520134.
