How often do you find yourself wondering, “How much do I really need to start investing?” It’s a common question, especially among Muslim women, many of whom may feel like they don’t have enough money or knowledge to dive into investing. But here’s the good news: You don’t need a fortune to begin investing. You can start with small amounts, and by doing so, you’ll benefit from both the power of compound growth and the invaluable lessons that come with experience.
As the founder of Her Islamic Finance, Selvie has made it her mission to empower Muslim women to achieve financial security and freedom through halal investing. Today, we’ll help you take that first step toward mastering your finances.
The Power of Starting Small:
One of the most common misconceptions is that you need a lot of money to start investing. Let me tell you—this is simply not true. Even small investments can grow significantly over time, thanks to the power of compound growth. The sooner you start, the more time your money has to multiply.
By investing early, you’re not just growing your wealth, you’re also learning how the markets work. Investing is a skill that gets better with practice. Even if you have access to all the tools and resources Selvie teaches in her programs, there’s no substitute for learning by doing. The most important step is to begin. Choose an amount that fits within your current budget, and start investing today. You’ll gain experience, build confidence, and set yourself on the path to financial independence.
Why Learning by Doing is Crucial:
Markets are always changing, and that’s why learning by doing is essential. When you invest small amounts at first, you minimize your risk while still gaining valuable experience. If you make mistakes, they’ll cost you less, but you’ll learn more. Over time, you’ll become a more confident, informed investor.
Imagine this: If you start with a large sum without any experience, a single mistake could have significant consequences. But if you start with smaller amounts, you’ll have the opportunity to refine your strategy and build a strong foundation for the future.
The Smart Budgeting System:
So, how much should you invest? The key is to first get clarity on your financial situation. In her programs, Selvie teaches a smart budgeting system that’s on autopilot, helping you calculate the exact amount you can invest each month.
Here’s how you do it:
1. Start with your monthly income.
2. Deduct your fixed and variable expenses.
3. Subtract savings for your goals and emergency fund.
4. The amount left can be safely invested.
Here’s what will take this system to an automated process, or on autopilot if you will. Schedule the steps to be executed automatically as soon as your income expectedly comes in. Most of the banks offer so called automated payments for this. By this method, you avoid overspending leaving you with not enough money for your valuable saving and investing goals. Instead you start spending more consciously because you have limited the amount that is available for random spending. You can even invest part of your long-term savings. Letting that money grow in the market over time is often smarter than letting it sit idle in a bank account.
Gaining Clarity and Adjusting Your Strategy:
Once you know your investment potential, you’ll have a clearer picture of where you stand. This clarity is the foundation of any great financial strategy. Even if your current situation doesn’t allow for much investing, don’t be discouraged. Now that you have the numbers, you can adjust your plan.
Ask yourself:
– How can I increase my income?
– Where can I reduce unnecessary expenses?
– Are there goals I can postpone in favor of starting my investment journey?
By answering these questions, you’re setting yourself up for long-term success.
Ready to Take the Next Step? Join Our Halal Investing Program!
If you’re ready to dive deeper and get the full toolkit for halal investing, we invite you to check out our comprehensive programs. Whether you’re a beginner or looking to refine your strategy, Selvie will guide you every step of the way toward financial empowerment.
Together, we’ll build a strong foundation based on Islamic principles, helping you achieve the financial freedom you deserve. Take charge of your financial future—start today!
Like, share, and subscribe to help other sisters on their financial journey. Share this post with those who need that extra push to start investing in themselves and their future. If you want to know more about halal investing, check out our programs— we can’t wait to welcome you on this exciting journey toward financial freedom.
By following these steps and embracing the journey of learning, you’ll be well on your way to mastering the art of halal investing. Remember, your financial future is in your hands—start today and watch your wealth grow, inshaAllah!