How to get rich?

Nadeem Moulvi

The writer is a business analyst.

Most people, if not all of us, want to live in financial comfort and stability. People want to get rich. Just do a search on Google Books and you can see that it’s been a rising trend since the 90s. While the end goal is clear, it’s hard to know where to begin your journey to being wealthy.

Before you get started, it’s important to acknowledge that becoming rich takes time and effort. There are very few ways to instantly have large amounts of wealth, and all of them are luck-based. There are few steps that are very important to work on if you want to get rich.

Start a Business: It is the best chance of getting rich fast. There’s a very limited amount of jobs that can get you rich, but everyone can start a business. Not many businesses succeed, but in capitalism owning equity of successful companies is what creates and drives wealth. Ownership and profits are the name of the game in capitalism.

Live below your means: Living below your means is when you spend less than what you make. If you can live below your means, you have a great chance to reach financial freedom. In fact, it’s the biggest predictor of your financial success.

Pay down debt: Whether it’s credit cards, student debt or other loans, most of us will deal with some form of debt at one point or another. And while owing money might just seem like a way of life, the faster you can remove the burden of debt from your life, the faster you can take control of your finances.

Invest in ways that work for you: Investing is an extremely competitive field and it takes a very strong character to succeed in the financial industry. But you can definitely make a lot of money, very quickly, if you’re good.

Money is a tool that can help you to achieve your goals. It can provide comfort and stability for your family and make it easier to plan for the future. But to achieve these things, you have to be patience. Even Islam has pointed out measures through which we can get rich. Islam never forbids Muslims to get rich, but of course, the people have to get it by Islamic way.

Seek forgiveness: Allah says, “I said (to them): Ask forgiveness of your Lord. Indeed, He is ever a Perpetual Forgiver. He will send [rain from] the sky upon you in [continuing] showers, and give you increase in wealth and children and provide for you gardens and provide for you rivers.” (71: 10-12)

Be grateful to Allah (SWT): In Surah Abraham’s verse 7, Allah says, “And ˹remember˺ when your Lord proclaimed, ‘If you are grateful, I will certainly give you more. But if you are ungrateful, surely My punishment is severe.”

Ask Dua from others: Prophet Muhammad (S.A.W.W) once said, “O Allah, bless for them, that which You have provided them, forgive them and have mercy upon them.”

Do Charity: Allah (SWT) says, “Say, Indeed, my Lord extends provision for whom He wills of His servants and restricts [it] for him. But whatever thing you spend [in His cause] – He will compensate it; and He is the best of providers.” (34:39). Live with honesty: Anything you do, whether it is job or business, do with honesty. Stay in the right way in the transaction and don’t do forbidden things that only benefit us.

Seeking profit is not bad, but it should be secondary. By following Almighty Allah and implementing Islamic rules of honesty, truthfulness, and good behaviour you can easily get rich.