FINANCIAL DISCIPLINE

©Ibn Abdillah As-sudaisiy Al-Iloori

I have been wanting to write something on financial discipline and the need to prioritise our parent and immediate family in whatever plan we might be having on our monthly stipends. In an attempt to achieve many things within a short while, many young men take heavy loans that often have adverse effects on their household. 

Taking heavy loan and servicing same with around 80% of your salary is not the problem. The problem is when you do not have alternative source(s) of income to make your family live a decent life. I know people who don't even care about their salaries. They use everything to serve loans. But they have alternative means of income. The welfare of our family should be a matter of immediate concern to us. Thinking that you can splash almost the whole of your salary on loan and beg to feed yourself and family for the rest of the month is not the best. This is becoming very common these days.

To be a gradual achiever with dignity is better than losing your prestige as a reckless achiever.