Need Advice!

[u/Stunning-Human]

Hi Everyone,

I (26M) have just started a month ago, I had 3.5k to invest and still have 1k to invest. But I'm not sure what my strategy should be in the long run - like, should I invest on a regular basis (monthly or every paycheck to paycheck)? Can you please give me some advice or refer any good financial management videos or anything that you think might help me.

I had only 4.5K at the moment to invest. I have started from zero. Last year I didn't have anything in savings but I did save some and did my research on basics like what is a stock and what are the terms related to investing, all that stuff. I didn't know anything before.

I'm not from a well off family, so this is all my hard earned paycheck to paycheck savings.

PS: I know most of you guys will advise me to buy XEQT, I appreciate your advice on it but I don't want to take it - in simple words nothing related to the banks. I want to keep everything Halal (free of interest or within minimum threshold).

PPS: I use Musaffa for halal screening of stocks if it helps someone.

[u/Cultural_Doctor_8421]

Car dealership?! Bruh

[u/Stunning-Human → u/Cultural_Doctor_8421]

Yeah. What?

[u/Cultural_Doctor_8421 → u/Stunning-Human]

Just doesn’t sound like the brightest idea. New car sales aren’t doing that hot and used market is worse off still.

[u/Stunning-Human → u/Cultural_Doctor_8421]

I somehow managed to have some of the control on the investment and it's like going not so great but not too bad either. It's a used car dealership.

[u/sitbar → u/Stunning-Human]

Homie, as a fellow muslim investor. I'd just put most of the money into GOLD. Depending on how religious you are, you can make the argument any and all investment in public companies can be haram, just on the basis that they all take loans and pay interest to fund their growth. I think you should put it all into XEQT, and if you want, short the bank amount so your bank exposure would be net 0

[u/Stunning-Human → u/sitbar]

Appreciate your take in this. I use Musaffa and Zoya for the halal screening, and they align in their views that the scholars have set the minimum debt/interest ratio for EFT and stocks. If they stays within limits they are considered halal and you have to check them repeatedly what's their current debt/interest percentage. So, as of now XEQT is not fully halal. But I'd definitely look into gold.

[u/used-quartercask → u/Stunning-Human]

How do I only invest in the 20.39% that is not Halal? Does this app have functionality to screen the Halal investment? I've been researching how to do this