Jakarta, Armfalcon.com – The concept of an emergency fund that is often heard in terms of financial planning has actually been practiced by the Prophet Muhammad SAW. So what was the application of this concept like when he was still alive?
The Messenger of Allah stored food for the needs of the family for a year.” (HR Bukhari no 2904 and Muslim no 1757).
“Keep a part of your wealth for the good of your future, because it is much better for you.” (Narrated by Bukhari).
“Surely you leaving your heirs rich is better than leaving them poor,…” (HR Bukhari Muslim).
From this hadith, it can be seen that the Prophet also cared about the economic foundation of his family. In fact, the hadith also states that it is not wrong for us to leave a large inheritance for our heirs.
The Prophet’s emergency fund
Seeing the first hadith about the activities of the Prophet Muhammad, who often saved food for a year, is the same as saving an emergency fund.
Emergency funds are savings that we prepare for emergency matters, say when we lose income due to layoffs or business risks, help parents or relatives, and so on.
Treasures that are actually stored don’t have to be in the form of money, food can also be treasure. And actually saving an emergency fund is not the same as hoarding.
Saving is a form of one’s self-control against excessive consumption behavior.
“God gives grace to someone who tries well, spends modestly, and can put aside excess to look after when he is poor and in need.” (HR Bukhari and Muslim)
The essence of the hadith is that people who save will receive mercy from Allah SWT.
And also remember that, if your emergency fund savings meet the requirements for zakat, then you must also pay zakat.
The Ideal Emergency Fund Is Like This, Be Careful If You Don’t Have One