Family Financial Management in Realizing Sakinah Family

Putri Apria Ningish (), Murniati Mukhlisin and Jumni Nelli
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Putri Apria Ningish: Universitas Islam Negeri Sulthan Thaha Saifuddin
Murniati Mukhlisin: Institut Agama Islam Tazkia
Jumni Nelli: UIN Sultan Syarif Kasim

Chapter Chapter 10 in Wealth Management and Investment in Islamic Settings, 2022, pp 151-164 from Springer

Abstract: Abstract Improper household financial management often becomes a dispute in the family, which eventually becomes the cause of divorce. The divorce rate in Indonesia in 2020 reached 306,688 cases which has increased every year since 2015. According to data in June and July 2020, the number of divorce cases increased by 57 thousand cases with 80 percent of divorce cases that went to Religious Court filed by wives. Of all these cases, not a few are triggered by economic problems in the family. Family financial management hence is a way of managing family finances regularly and carefully through the stages of planning, implementing, and monitoring. By using library research and field research, this research categorizes and interprets the literatures using thematic analysis perspective. Coupled with understanding of maqasad al shari’ah, the results of the study find that Islamic family financial management starts from planning, based on tawhid and straight intentions. Then the family has to manage income, which ensures income is obtained and used in a lawful and tayyib way, complete with sense of mujahadah and ukhuwah. The family also has to manage needs, allocate proportionally (not stingy and wasteful), donate, record every cash flow (money in and out), Then if there is a surplus it must be managed with savings/investment and if the deficit is attempted to stay away from debt. Next, the family has to fulfill five elements of maqasad al shari’ah to achieve family financial dreams. Finally, financial evaluation is carried out by auditing, zuhud, gratitude and muhasabah. So that all financial activities must be run with good morals.

Keywords: Family Financial Management; Planning; Implementation; Supervision; Maqasad al shari’ah (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-981-19-3686-9_10

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DOI: 10.1007/978-981-19-3686-9_10

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