Rizqwise

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. Play Episode

Should I pay off my low interest student debt according to the schedule and invest? Or put all my money towards paying off the debt first? Play Episode

What's the best way to pay off your debt? There are two predominant strategies that the experts teach on how to pay down your 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. Play Episode

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? Play Episode

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. Play Episode

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. Play Episode

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. Play Episode

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? Play Episode

"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." Play Episode

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... Play Episode

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. Play Episode

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, right? Play Episode

"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?" Play Episode

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? Play Episode

"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." Play Episode

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. Play Episode

"Should I invest with a large investment firm or learn to invest in stocks on my own? I am not confident in the latter but don't feel like being duped by the former." Play Episode

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). Play Episode

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? Play Episode

Why do budgets fail? Despite the best of intentions, there are 3 very common mistakes people tend to make when going through the budgets process. Learn how to avoid these mistakes and you'll do better than 99% of people. Play Episode