Totally Blown Away with Jewish and Muslim Financial Challenges

Have you ever wondered that Religion can play a great role in managing your finances. As a Catholic I am trained to manage my finances in terms of Christianity. But after I read about finances of other religion including that of Jewish and Muslims, I am really in utter shock that Money can actually play different roles in terms of religions.



I was just reading one of the articles in Money Magazine when I came to know about financial religions of different communities and trust me I was just blown away after reading it. It was really a wonderful article where it showcased stories of three different community families with different faiths and how they cope up between their financial stability and values. You can found the stories here.


I was really moved away after reading the article. The christian part was very known to me but the Jewish and the Muslim part, I would definitely like to discuss as it was more interesting and taught me some really good values of religion and money. I do not want to give any long lectures to anyone of you. It is just that I want to share what I have learned.

The Muslim Family Part :

1.) As per Quran, the holy book of the Muslims, You can never earn nor pay any interest. This is very difficult on the part of us, The Americans.

2.) Since no interest can be paid, therefore, no mortgages, no credit cards and limited amount of retirement portfolio.

3.) Education is always an exception here.

4.) The most shocking is that the charitable donations should equals to 2.5% of the net worth. I have no idea how they calculate the net worth, But I am sure they give more percent than what is exactly allocated.


The Jewish Family Part :

1.) They prepare high, extremely high, budget. The cost of a biscuit is not less than $14.99. I wonder what they earn and how they live a living.

2.) The veg and the non-veg items are always kept separately. That means they always have 2 sinks, 2 refrigerators, and almost 2 of everything.

3.) Each and every family members needs to have everything separate. No matter its a car or a house.

I am sure that the financial religion between different communities are taking place in US also, the only difference is that here it is more challenging.

Jewish Tokens

I would love to hear from all of you, what religion you practice and how you manage your finances with it. No matter what our faith is, the only thing i know is that it should be practices with best of our abilities.