It's the last days of Ramadan. Here's your financial checklist before Eid.
Ramadan is one of the most spiritually focused months of the year. But it's also one of the best times to get your finances in order — before the celebrations of Eid al-Fitr (the festival marking the end of Ramadan) begin.
Whether you follow Islamic principles or simply want to make sure your money is working for you with integrity, here's a practical financial checklist for the final days of Ramadan.
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1. PAY YOUR ZAKAT AL-FITR (FITRANA) BEFORE EID PRAYER
Zakat al-Fitr is a compulsory charitable donation (think of it as a "purification tax" on fasting) due from every Muslim who has food beyond their basic needs. It must be paid before the Eid prayer — not after.
The amount: approximately $10–15 USD / £8–12 GBP per person in the household (based on the cost of a staple food, updated each year by local Islamic organisations).
Who it covers: yourself, your spouse, your children, and any dependants in your household.
Where to pay: any reputable local charity or Islamic organisation — NZF (National Zakat Foundation) in the UK, Islamic Relief, local masjid fund.
Do this first. It is time-sensitive. Once the Eid prayer starts, the window has passed.
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2. CALCULATE YOUR ANNUAL ZAKAT ON WEALTH (IF DUE)
Most people's Zakat anniversary (hawl — the full lunar year of holding wealth) falls in Ramadan, because Ramadan is when many of us first set a Zakat intention.
Zakat on wealth: 2.5% of all Zakatable assets above the Nisab threshold (approximately $900 USD / £750 GBP at current silver prices).
Zakatable assets include: cash savings, gold, silver, investment portfolios, money owed to you.
For your investment portfolio specifically — two accepted methods:
- Method A (simple): Pay 2.5% of total portfolio market value at your Zakat date.
- Method B (precise): Calculate underlying cash and receivables per share, pay 2.5% on that amount. Apps like Musaffa automate this.
If you've already done this calculation — great. If not, do it this week. Don't defer Zakat past your anniversary.
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3. DO A PORTFOLIO REVIEW — NOT A PANIC REVIEW
Markets have been turbulent lately (down roughly 10% from recent highs). The last days of Ramadan — a time of reflection — is actually an excellent time to review your portfolio with a clear head, not a reactive one.
Three questions to ask:
a) Is everything I hold still passing its screen? Company financial ratios change. A company that was halal two years ago may have taken on more debt since then. Spot-check your top holdings on Zoya.
b) Am I still on track with my investment plan? If your monthly contributions have lapsed or your allocation has drifted, note it and recommit.
c) Do I have my emergency fund fully funded? 3–6 months of living expenses in accessible cash (not invested). If not, this is the year to fix it.
Review calmly. Don't sell in fear. Don't make major moves in the last days of Ramadan based on market noise. Just observe.
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4. PLAN YOUR EID SPENDING BEFORE EID ARRIVES
Eid brings gifts, travel, meals, celebrations — and for many families, unexpected expense. The average Eid spend can easily reach £500–£2,000+ if it's not thought through in advance.
Before Eid, decide:
- A specific gift budget per person
- A food and celebration budget
- Whether any travel is involved and what it costs
Write the number down. Then stick to it. Eid should be joyful, not followed by January-style financial regret.
If you receive Eid money as a gift or cash (common in many families) — decide in advance what you'll do with it. The best answer: invest it, or direct it toward your emergency fund. Even £200 invested consistently over years compounds significantly.
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5. SET ONE FINANCIAL INTENTION FOR THE COMING YEAR
Ramadan is about intention. Before Eid arrives, set one concrete financial intention — not a vague wish, but a specific, measurable goal:
Examples:
- "I will invest £200 per month into HIWS starting in April."
- "I will complete my emergency fund to 3 months by October."
- "I will calculate and pay my Zakat on time every Ramadan."
- "I will read one book on halal investing this year." (I happen to know a good series — but that's not the point. Pick anything that moves you forward.)
Write it down. Tell someone. Intentions committed to publicly are more likely to become actions.
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Ramadan Mubarak to everyone observing. And to those who aren't Muslim — the principles of ethical stewardship of wealth, charitable giving, and intentional spending apply to anyone who cares about how their money moves through the world.
The financial reset that Ramadan offers is genuinely valuable. Use these last days well.
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One question for the community: What's the one financial thing you're committing to this Eid/this season — whether that's starting to invest, paying Zakat for the first time, or just finally calculating what you actually have? Drop it below. Let's make it real.
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It's the last days of Ramadan. Here's your financial checklist before Eid.
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