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Rizqwise
Rizqwise episodes
- 028 – Five Tips to Stay Motivated While Paying Off Debt
Everyone starts off with the best of intentions when beginning their debt free journey.
But once that initial burst of energy wears off, it’s really easy to fall off the wagon at the first sign of trouble.
In this week’s episode, we discuss five practical tips to help you stay focused on your goal and complete your debt free journey.
Tune in to learn:
- Why it’s critical that you keep your intention front of mind.
- How to be realistic about your debt reduction targets.
- Why you should calculate how much daily interest you pay.
- The benefits of having an accountability partner to keep you on track.
- The importance of rewarding yourself at major milestones on your journey.
Listen here…
Show NotesDaily Interest Charge = (Principal * Annual Interest Rate) / 365
The post 028 – Five Tips to Stay Motivated While Paying Off Debt appeared first on Rizqwise.
30 min - 027 – Ask Rizqwise: Should I pay off loans before investing?
Should I pay off my low interest student debt according to the schedule and invest the rest of my money? Or put all my money towards paying off the debt first?
Listen to the answer here…
Got a question for us? Click here to send it in.The post 027 – Ask Rizqwise: Should I pay off loans before investing? appeared first on Rizqwise.
19 min - 026 – Avalanche vs Snowball: Two Very Different Ways to Pay Off Debt
What’s the best way to pay off your debt?
There are two predominant strategies that the experts teach on how to pay down debt. One makes more mathematical sense, while the other considers the nature of human behaviour.
Which one is right for you? It depends on two things: you and your debts.
Tune in to this week’s episode to learn:
- Which method will help you pay your debts as fast as possible.
- When it makes sense to pay smaller debts first.
- How to prioritize which debts to tackle before others.
- What to do with different types of debt including credit cards and lines of credit.
- When it makes sense to transfer balances from one debt to another.
Listen here…
Show Notes- Debt Free Muslims Podcast
- Get Out of Debt With the Snowball Plan – Dave Ramsey
- Avalanche vs Snowball: Which is the best way to pay off debt?
The post 026 – Avalanche vs Snowball: Two Very Different Ways to Pay Off Debt appeared first on Rizqwise.
30 min - 025 – Ask Rizqwise: How do I go “all in” on debt?
You talked a lot about going ‘all in’ on debt. But in practical terms, what does that mean? How drastic of a lifestyle change should I be making to tackle my debt?
Listen here…
Show Notes- Pay off your mortgage, live debt free: how one guy did it in 3 years
- Super-frugal mortgage payoff not realistic for most
- Why I decided to do a 200 days of nothing new challenge (and why you should too)
The post 025 – Ask Rizqwise: How do I go “all in” on debt? appeared first on Rizqwise.
27 min - 024 – How to Set Your Debt Free Date
You’ve made a commitment to get out of debt. Now what?
Most people just stop there. They promise themselves they’re going to finally climb out of debt and commit to paying as much of it down as possible.
The first month or two go well. But then, old habits die hard and they’re back to square one.
How can you push beyond that momentary burst of energy and actually make a dent in your debt over the long haul?
Tune in to this week’s episode to learn:
- The simple first step to tackling debt most people fail to take.
- How to come up with a game plan to pay down your debt.
- How to pinpoint the specific day by which you’ll be debt free.
- What to expect on your journey to getting rid of debt.
- Why paying off your debt will teach you about more than just money.
Listen here…
Show Notes- A Step-by-Step Guide to Getting Out of Debt
- Step-By-Step Guide: How To Pay Off Debt For Good
The post 024 – How to Set Your Debt Free Date appeared first on Rizqwise.
28 min - 023 – The Critical First Step to Eliminating Debt Once and For All
Do you have a problem with debt? Have you tried getting out of debt unsuccessfully? Or did you manage to get out of debt only to fall back in?
The core problem is probably not that you’re spending too much money or not earning enough. Those issues might not be helping. But there’s probably something more serious that’s stopping you from eliminating debt once and for all.
Your mindset towards debt is the single most important thing you can change to help you get out of debt. Because when your mindset changes, your actions follow.
Tune in to this week’s episode to learn:
- Why you should never get comfortable with the idea of being in debt.
- The difference between getting out of debt and staying out of debt.
- How to internalize warnings against debt from the Qur’an and Sunnah.
- How to redefine “rock-bottom” so that going into debt is never an option
- Why the mark of a sincere intention is to “go all in” on debt
Listen here…
Show Notes- Why Intention is the Key to Financial Success
- Why Credit Cards Are Designed to Make You Spend More Money
- Ask Risqwise: Getting Married and Out of Debt
- Ask Rizqwise: How can I stop living beyond my means?
- 7 Steps to Becoming Debt Free (With Duas for Each Step)
- Urgency To Pay Off Debts With Imam Tahir Anwar
The post 023 – The Critical First Step to Eliminating Debt Once and For All appeared first on Rizqwise.
21 min - 022 – Ask Rizqwise: Why Credit Cards Make You Spend More Money
How can I avoid getting deeper and deeper into credit card debt?
We get a LOT of questions about credit cards.
It’s not surprising, using plastic is just a routine part of our daily lives. We don’t even think about it much anymore.
In this episode of Ask Rizqwise, we discuss the origins of credit cards (spoiler alert: the goal is to get you spend more) and offer some practical advice on how to stop digging a deeper hole for yourself.
Listen here…
Show Notes- Why Discipline is Not Enough to Change Your Financial Habits
- Always Leave Home Without It: A Further Investigation of the Credit-Card Effect on Willingness to Pay
The post 022 – Ask Rizqwise: Why Credit Cards Make You Spend More Money appeared first on Rizqwise.
21 min - 021 – The Great Debate: Active vs Passive Investing
Think you can beat the market?
You’re not alone. It’s human nature to want to win at everything.
But is it even possible to outperform the market? Is there any evidence to suggest that the markets can be beaten?
The debate between active and passive investing has been raging for decades. We’re not going to resolve it here. But we are going to present you with the key arguments on both sides so you can draw your own conclusions.
Listen here…
Show Notes- The Little Book of Common Sense Investing: The Only Way to Guarantee Your Fair Share of Stock Market Returns
- Resisting The Temptation To ‘Win’ When Investing
- Active Versus Passive Investing: Are These Really The Only Two Options?
- Exchange-Traded Funds: Active Vs. Passive Investing
- Passive investing is profitable, but there’s a time to get active
- Active vs Passive Investing
The post 021 – The Great Debate: Active vs Passive Investing appeared first on Rizqwise.
30 min - 020 – Ask Rizqwise: Getting Married and Out of Debt
I have made a lot of poor decisions regarding how I use money . I am working towards marrying a very good brother and we both have debt. I’d like to have a game plan with him so that we enter the marriage with a way forward in terms paying off our debt , saving, and having investments.
Listen to the answer here…
The post 020 – Ask Rizqwise: Getting Married and Out of Debt appeared first on Rizqwise.
26 min - 019 – How to Measure the Performance of Your Investments
People make all sorts of claims about what is and isn’t a good investment.
“Housing is the safest investment.”
“Gold is the best place to put your money right now.”
“This mutual fund has made money for 7 years straight.”
And so on…
What is a ‘good’ investment? What yard stick are you using to measure investment returns? How can you tell if an investment is actually performing well?
In this week’s episode, you’ll learn:
- Why buying an investment is unlike any other purchase you’ll ever make
- How to quickly determine whether any investment is worth considering
- The only benchmark you should measure your investments against
- How the financial services industry tries to sell you underperforming investments
- What an index fund is — and why they’re becoming so popular
Listen here…
The post 019 – How to Measure the Performance of Your Investments appeared first on Rizqwise.
20 min
About Rizqwise
From the publisher's feed
Rizqwise is a show about money, for Muslims. Tune in to learn how to make smarter financial decisions — without selling your soul. For the full experience, join us at www.rizqwise.com.