Rizqwise
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Rizqwise episodes

  • 018 – Ask Rizqwise: Can I make money trading foreign currency (forex)?

    Can I make money on currency exchanges? For example, I deposited 100 USD (which was almost the same as $100 CAD) in my US account in 2013. If I were to get them converted to CAD now, I’ll get $130 – i.e. I “earned” $30 due to currency exchange.

    Listen to the answer here

    Show Notes
    • Why Your Money Loses Value Every Single Day
    • 7 Simple Rules to Master Money
    • Ask Rizqwise: Should I rent or buy a house?
    • Got a question? Send it over and we’ll answer it on the show.
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      The post 018 – Ask Rizqwise: Can I make money trading foreign currency (forex)? appeared first on Rizqwise.

      26 min
    • 017 – Why You Should Never Sell Your Investments

      If trading stocks for fun isn’t the path to creating wealth what is?

      The reason people confuse trading with investing is because trading is easier to understand. Buy when they’re low and sell when they’re high. Simple enough.

      But the truth is, the most practical path to creating wealth in the stock market is to buy good investments and never sell them ever.

      Tune in to this week’s episode to learn:

      • Why it’s much harder to determine when to sell than when to buy
      • Why the longer time horizon you have, the better off you’ll be
      • The two reasons most people are tempted to sell their investments (and why they’re both mistakes)
      • Why the hardest part about investing is having ‘sell discipline’
      • Why it’s so hard to determine what’s driving changes in stock prices (and why you shouldn’t bother trying)
      • Listen here…

        Show Notes

        The Berlusconi Scandal Explained

        The post 017 – Why You Should Never Sell Your Investments appeared first on Rizqwise.

        23 min
      • 016 – Ask Rizqwise: How can I stop living beyond my means?

        Budgeting is difficult for me is because I don't have a steady income, it's either more than I need or more often less than I need every month. So I am always struggling to make ends meet. According to the 50/30/20 rule I think I am spending 95% of my income on necessities. And when I cannot meet those ends I tend to borrow and as of today I am not comfortable with the debt I am in. What is your advice for me?

        Listen to the answer here…

        Got a question? Send it over and we’ll answer it on the show.
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        The post 016 – Ask Rizqwise: How can I stop living beyond my means? appeared first on Rizqwise.

        16 min
      • 015 – The Difference Between Investing and Trading

        Investing is about buying and selling stocks, right? Buy low, sell high how much more could there be to it?

        The financial media, and Hollywood, would lead you to believe that picking the right stocks and timing the market is the path to building wealth. If Warren Buffett did it why can’t you?

        In this episode, we’re going to clarify the critical difference between serious long term investors who actually make money in the markets and the get-rich-quick amateurs who lose their shirts.

        Tune in to learn:

        • Why some of the smartest people on Wall Street can’t time the market and you can’t either.
        • The difference between a short term ‘bet’ and a long term investment
        • Why investing in stocks feels like gambling and how to fix that
        • The importance of having a long time horizon for your investments (and sanity)
        • The timeless investment strategy that generates real value in the long term
        • Listen here…

          Show Notes
          • The Intelligent Investor: The Definitive Book on Value Investing
          • The post 015 – The Difference Between Investing and Trading appeared first on Rizqwise.

            20 min
          • 014 – Ask Rizqwise: Isn’t compound interest haram?

            I subscribed to this podcast thinking it would provide a good opportunity to learn about how to manage and invest money in an Islamic manner, that is: what to invest in, what to stay away from, etc. All of the tips, however, are geared towards an un Islamic financial system. Take the compounding example for instance. You mention that it can apply to non-interest bearing investments, but give no example of how that is possible in the actual podcast.”

            Listen to the answer here…

            Got a question? Send us an email at [email protected] and we'll answer it on the show.

            Show Notes
            • 5 Lies About Money that Are Holding Your Back
            • The Problem With Letting Money Run Your Life
            • The post 014 – Ask Rizqwise: Isn’t compound interest haram? appeared first on Rizqwise.

              24 min
            • 013 – The Only Two Investments that Actually Make Money

              Is your house an investment? What about education? Is that an investment?

              In this episode, we’re going to take back the word investing and clarify, once and for all, what an investment actually is and what it’s not.

              Tune in to discover:

              • The difference between return and utility
              • The defining characteristic of a real investment
              • What people mean when they talk about investing in ‘stocks’
              • The difference between equity and debt investments
              • The common financial investments available to you as a consumer
              • Listen here…

                Show Notes
              • Rich Dad Poor Dad by Robert Kiyosaki
              • The post 013 – The Only Two Investments that Actually Make Money appeared first on Rizqwise.

                32 min
              • 011 – Why Your Money Loses Value Every Single Day

                We’ve got some bad news for you.

                You know that money you have sitting in the bank? The money you worked really hard to earn?

                Tomorrow, it’s going to be worth less than it is today. And the day after that, it’ll be worth even less. Eventually as the days, months, and years pass if it stays in the bank it’ll eventually become worthless (dramatization).

                This is an uncomfortable realization for most people. The idea that the longer you hold on to your money, the less it’s worth. What’s even more uncomfortable is the fact that the entire economic system is actually setup to make your money lose value over time.

                So what do you do? Throw caution to the wind and spend it all before it’s worthless? Not exactly.

                Tune in to this week’s episode to learn:

                • Why money only has value because we agree it has value
                • The story of Brazil’s hyper inflation and what it teaches us about what money is really worth
                • Why your money is designed to lose value the longer you keep it in the bank
                • The only two things your money is actually good for
                • The very real dangers of not investing your money in productive assets
                • Listen here…

                  Show Notes
                  • The Invention of Money – This American Life
                  • The post 011 – Why Your Money Loses Value Every Single Day appeared first on Rizqwise.

                    28 min
                  • 010 – Ask Rizqwise: Should I buy or rent a house?

                    I’m getting married and we recently started discussing joint finances. I’ll probably be the sole income for the first few years while she pays off her student loans. We’ve been having a discussion about renting/owning a place to live. She’d like to rent, but I don’t know, I feel like it’s throwing away money. And if I can earn enough for a downpayment before we get married, wouldn’t it just make sense to put that money into owning a place to live?

                    Listen to the answer here…

                    Got a question? Send us an email at [email protected] and we’ll answer it on the show.

                    Show Notes
                    • NY Times Rent vs Buy Calculator
                    • The post 010 – Ask Rizqwise: Should I buy or rent a house? appeared first on Rizqwise.

                      25 min
                    • 009 – Three Reasons Why Budgets Fail

                      Still haven’t built a budget? Somehow, we’re not surprised.

                      Budgeting is not an easy process and getting started is probably the hardest part. But even after you get started, there are many obstacles that can trip you up.

                      Specifically, there are 3 very common ways people fall and stumble during the budgeting process despite the best of intentions.

                      In this episode, you’ll learn what the most common mistakes are people make during the budgeting process so you can avoid them altogether.

                      Tune in to learn:

                      • Why budgeting is necessary, but not enough to improve your financial habits
                      • The big picture of budgeting — beyond the mechanics and details
                      • How to avoid getting caught up in the details and drowning in data
                      • Why habit building is the ultimate purpose of budgeting
                      • How long you should be budgeting for — and when you can stop
                      • Listen here…

                        Show Notes
                        • How to Budget Your Money With the 50/20/30 Guideline
                        • The post 009 – Three Reasons Why Budgets Fail appeared first on Rizqwise.

                          34 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.