The Islamic Approach to Finances in a Marriage (EP. 6 - 100 Ethical Wealth Hacks)

In this video we cover (1) what are a husband and wife's financial responsibilities in Islam; (2) what are the answers to practical questions like whether you should have a bank account, who pays for childcare, the wife's commuting costs, and how to deal with shared investments; and (3) we give practical top tips on managing household finances as a couple.

Love to hear your thoughts, advices and comments too!

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TIMESTAMPS
Part 1: husband/wife's financial responsibilities
01:02 - Husband's financial responsibilities
03:21 - Wife's financial responsibilities
Part 2: practical questions
05:35 - Should I have a shared bank account?
06:02 - Who pays for the wife's commuting costs for her job?
06:27 - What standard of living do my wife/children deserve?
07:15 - Who pays for the childcare?
07:45 - How much do I own of joint investments?
Part 3: top tips
08:43 - Talk about finances and discuss bank accounts
09:24 - Write down goals and design a budget
10:22 - Track your budget & weekly money meetings
10:55 - Have your priorities right
11:42 - learn from each other and compromises

Who are we:
We are two Oxford grads who have studied Islamic finance both at uni and classically for over 6 years. We quit our corporate law jobs to go full-time on IFG in 2020. We are on a mission to help 25% of the world's population with their personal finances.

Islamic Finance Guru (IFG) is an Islamic finance comparison and analysis site that helps people with their investment, personal finance and entrepreneurial journeys.

We do this for one reason: to make our community better-off. We want to take Muslims from being among the poorest in society to the richest. We think that this is the most effective way to deal with problems like discrimination, under-representation and poverty. For more about the team visit: https://www.islamicfinanceguru.com/ab...

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