Which Financial Group Are You?

Salam. Peace be Upon You. Smile and brighten your days with positive self attitude.

Ok now considerably we are the people who have income, (for student you have scholarship or loans or FAMA), then how do we check our financial habits? Here a simple groupings that most of the people fall into.
1) Financial Idiot

Basically, the this group of people will have a very unbalanced cash flow, where the expenditure outweigh the savings & investment by ratio 1:2.

Let us see this example:
Abu’s total income is RM3000. He spends RM800 on his VIOS, RM500 for fuel & TnG (he drives to office), RM500 for leisure and entertainment, RM500 more on meal and eating out. He lives in a comfy apartment which he rents for RM500.
Total expenditure is RM2800. After spending that much, whats left is RM200. This amount goes to his savings, which is just the same account for his bank-in salary.
To add some hyperbola, he knows nothing about financial planning, zakat, takaful, insurance, investment, tax etc. He argues why EPF/KWSP deduct his money. He stumbled on 1 May when his friend asked; “Have you finished you e-Filing?” He replied; “What is this e-Filing?”
Obviously, the expenditure to savings ratio is 1:10. Really, he saves nothing for his life, and future life. This is what we call idiot.
2) Financial Aware

A good worker, a good servant of organisation who knows how to control expenditure and savings. Every month he puts aside 10% for saving before doing any shopping. Have some financial objectives, save for retirement, have adequate takaful protection. The expenditure to savings is 1:1.

3) Financial Genius

A lot better from group 2, this type of people are not just the master of their finance, but able to use many instruments and facilities to their own benefits. If the person fall into this category, we expect that his wealth is more than what he spends, thus probably the ratio is more 10:1.

This groups sets strategically their financial objectives, know how to accumulate wealth, master the finance and banking facilities such as loans and use that for their own benefits. Loan & credit cards can be scary to other people, but not to them.

They have advanced knowledge in investment, and already diversify and yet focus to their plan. Property, business, stocks, forex, gold are just their normal day-to-day conversations.
So here, being financial genius is to know how to make use our hard earned money to our benefits. It is also about being prudent and frugal. It is not totally being filthy rich, but to master our finance is indeed a crucial skill as a Muslim to gain economic strength, that can contribute to the well being of ummah.