Auto-generated transcript:In the name of Allah, the Most Gracious, the Most Merciful. All praise belongs to Allah, the Lord of the worlds, and the most gracious of all the messengers.
Muhammad and the Messenger of Allah, peace and blessings be upon him and his family, and peace and blessings be upon him and his family.
And after that, principle number eight. John D. Rockefeller says, reinvest everything or lose everything.
Reinvest everything or lose everything. His pending rule was never touch principle.
Never touch the principle. Reinvest 90% of the profits, live on 10%.
He says men fail, and this is before all the equality stuff, so therefore people fail, because they spend tomorrow's fortune on today's pleasures.
He's talking about the never-never. He's talking about borrowing or getting into debt in order to fund today's pleasure.
Compound interest builds empires.
He's saying men fail because they spend tomorrow's fortune.
You don't have it with you. Tomorrow's fortune on today's pleasures. Compound interest builds empires.
Truest words spoken and completely reflect the Islamic principles of zero interest, zero interest finance.
Just see.
Just see what people usually spend on.
People will spend, I'm talking about America especially.
People will spend on, first thing they spend on is a car.
They will try to get a new car, and then they will try to get the latest car in that bracket.
I mean, not everybody is aiming for a Ferrari because they know they can't afford that.
But if they're buying a Toyota, then they want the best and the latest and so on and so on.
Fully loaded.
Whereas if you just ask yourself, what is it that I need?
You don't need a car, you need transport.
I lived in America for six years, and I never had a car.
And I never needed a car.
People used to laugh.
They used to say, you're the only person in the whole of the United States who does not own a car.
I said, exactly.
I am proud of that because I did not own a car.
And because of that, two things happened.
One, I saved a huge amount of money.
And secondly, I helped another brother with some income.
I had this dear brother and friend of mine, Abu Hadi, who used to drive Uber.
And then he used to drive for me.
And anywhere I wanted to go, my wife wanted to go, we would call Abu Hadi.
We just did a very simple thing.
I said, if I lease a car, obviously I will not take a car on finance by paying interest.
But even if I take, and I did not want to spend the money to buy a new car.
So I said, now what's the option I have?
One is to buy a secondhand car.
We don't know what kind of condition it is in and so on and so forth.
And you drive it.
So now you're paying insurance.
You're paying for gas.
And then of course the liability.
If you, you know, you're driving, you have an accident, all of that.
If I lease a car, it would have cost me the lease about $500 per month, plus insurance, plus gas, plus this.
Whereas in terms of my usage, I'm not saying everybody has the same usage.
If you have to drive to, you know, 100 km a day, you have to pay $100.
100 km, 100 miles a day or 50 miles a day commuting, that's a different thing.
I didn't have to do that.
So for my usage, I, in six years, I don't think I spent $500 in any one month.
So I used to call him, call my, this, my friend to drive for me.
And so therefore I had access.
To a driver and a car.
And he's a good friend of mine.
So, you know, he would, it would be good company.
I was learning Arabic.
So I would speak my sort of practice my Arabic with him.
And he would help my wife whenever she went shopping.
The point I'm making is that when you use your money wisely, which is never touched the principle.
He says spending tomorrow's fortune on today's pleasures.
This is what happens.
That's why they send you the send you credit cards in the mail.
That is why they have all these great schemes where you can get a house straight away and you will get a mortgage.
Apart from being completely haram.
It gives you.