FUMSS Sisters Emphasise Financial Wisdom at “Smart Ladies, Smart Finance” Session

FUMSS Sisters Emphasise Financial Wisdom at “Smart Ladies, Smart Finance” Session

By Oladele Aishat

The Fountain University Muslim Students Society (FUMSS) Sisters’ Circle held an enlightening programme titled “Smart Ladies, Smart Finance: The Undergraduate’s Guide to Financial Freedom,” aimed at equipping female students with practical financial skills rooted in Islamic values. The session, which took place on Saturday, featured Dr. Kifayat Adedimeji as key facilitator.

The event brought together students eager to learn how to balance faith, financial responsibility, and personal discipline in a world driven by material desires and social pressure. At the heart of the discussion were three essential and interconnected principles: Deen, Dunya, and Discipline.

According to the speakers, Deen gives direction by reminding women that everything they possess, whether little or much, is an amanah (trust) from Allah. Dunya presents opportunities and choices that demand effort, wisdom, and responsibility. Discipline, however, is the bridge that connects the two. Without it, even the purest intention remains unfulfilled.

Dr. Oluwatoyin explained that when discipline is absent, desire begins to take control. Wants start to feel like needs, planning is postponed, and shortcuts seem harmless. Practices such as gambling may be excused as “trying one’s luck,” while riba (interest), which is forbidden in Islam, may begin to appear acceptable. Over time, even what is sufficient no longer feels enough.
Rather than restricting life, discipline actually creates space. With it, planning becomes structured, desires lose urgency, and the influence of others weakens. Even limited resources, when carefully managed, can go a long way.

As part of the session, participants were introduced to a Smart Finance Cheat Sheet, a practical guide designed to help undergraduate students take control of their finances.
The Golden Rule (50/30/20):
Students were advised to follow a simple budgeting structure:

• 50% for necessities such as rent, school fees, food, and transportation
• 30% for personal wants including shopping and subscriptions
• 20% for savings and emergency funds, described as non-negotiable

This model was presented as a reliable way to stop guessing where money goes and start intentionally directing it.

Students were also guided through a psychological spending check known as the HALT principle. Before making any impulsive purchase, they were encouraged to ask themselves whether they were buying out of hunger, anger, loneliness, or tiredness. If the answer was yes, they were advised to wait at least 24 hours before spending.

In an introduction to Halal investing, key financial terms were simplified for the students:

• Riba: Interest, which must be avoided due to its lack of blessing
• Sukuk: Islamic bonds based on asset ownership rather than debt
• Halal equities: Investments in ethically compliant companies
• Gold: Recommended as a stable and safe form of savings

Recognising the need for additional income, the speakers suggested several side hustle ideas suitable for students. These included digital skills such as Canva design, transcription, and social media management, service-based work like tutoring, baking, and laundry services, as well as reselling thrifted items on social platforms.

The programme also highlighted the spiritual side of financial growth. Students were reminded that sadaqah (charity) protects wealth from calamity, gratitude attracts increase according to Qur’an 14:7, and regular istighfar (seeking forgiveness) opens doors of provision.

To support practical implementation, students were introduced to useful financial tools such as Goodbudget and YNAB for budgeting, and Cowrywise for savings and halal investments.

The session concluded with a powerful message: a smart lady is not defined by the amount she possesses, but by the wisdom, restraint, and faith with which she manages what Allah has placed in her care. Smart finance, the speakers emphasized, is not just about money, it is about balance, purpose, and spiritual consciousness.

The programme reaffirmed FUMSS’ commitment to nurturing confident, disciplined, and financially responsible Muslim women who are prepared for both Dunya and Akhirah