Posted by: islamicfinancingnews | January 11, 2014

Another Islamic finance tip: Get financially fit in 2014

Looking at your finances is part of many New Year’s Resolutions and that’s especially important when you’re looking at getting an Islamic finance product to get into the real estate market. Here’s a few great resolution tips that will help you to save money.

  1. Write things down.  Putting anything down on paper will help you to remember it. Some people think they don’t have enough money to start a financial plan, but that’s not the case.  This is the perfect way for people looking to get Islamic loans to start out on a budgeting plan they’ll need save moneywhen they buy that first or second home.
  2. Prioritize those debts. Trying to look at all the money you owe without a plan can be a recipe for some unnecessary anxiety.  One of the best ways to stack your debts is to look at all the money you own on credit and start paying it down by putting the loans and credit cards with the highest interest rates first.

Remember that experts say sticking to the plans that you’ve created is the key to success. Even before you’ve got Islamic mortgages, these tips are a great way to start down the path to saving for some real estate.

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