hangingout
New member
Assalamualaikum,
So as the man, my income goes towards providing for myself and my wife. And any spare money I have at the end of each month, I try to invest in the best way possible, to maximise the amount of money we will have in the future, whether for an early retirement, or to make our kids lives better.
As for my wife, her income goes to whatever she wants. However, she isn’t very financially literate, and just puts all of her spare money into her savings account.
I’ve spoken to her in the past about different ways she could invest her money in a better way, so that in the future we, as a family, will be better off. She has told me that she doesn’t really know about any of that, and that she will just put it all in her savings account for now.
So I’m wondering what the ruling is on being a sort of financial advisor for her, and telling her how to manage her savings, by putting it in a shariah compliant S&P to maximise the return on her savings. I believe this is a better alternative to her savings sitting dormant in a savings account, suffering from inflation.
Would it be permissible, if she were to agree? Or is it just completely prohibited for a man to involve himself in any way, with the wife’s finances?
So as the man, my income goes towards providing for myself and my wife. And any spare money I have at the end of each month, I try to invest in the best way possible, to maximise the amount of money we will have in the future, whether for an early retirement, or to make our kids lives better.
As for my wife, her income goes to whatever she wants. However, she isn’t very financially literate, and just puts all of her spare money into her savings account.
I’ve spoken to her in the past about different ways she could invest her money in a better way, so that in the future we, as a family, will be better off. She has told me that she doesn’t really know about any of that, and that she will just put it all in her savings account for now.
So I’m wondering what the ruling is on being a sort of financial advisor for her, and telling her how to manage her savings, by putting it in a shariah compliant S&P to maximise the return on her savings. I believe this is a better alternative to her savings sitting dormant in a savings account, suffering from inflation.
Would it be permissible, if she were to agree? Or is it just completely prohibited for a man to involve himself in any way, with the wife’s finances?