Financial Freedom Guides is a place where you can enlighten yourself about finance, money and business. This is a place to improve your financial literacy and learn about intriguing ideas in areas including business and finance. 1
3 Best Islamic home finance strategies explained
Islamic home finance was created to help the followers of Islam acquire a property. This was done because Muslims follow what is called “Sharia law”. Under Sharia law there’s a concept called Riba in Arabic, which forbids the payment and receipt of interest, as Muslims believe that one shouldn’t benefit at the expense of another. […]
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3 Min
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What everybody ought to know about cryptocurrency mining
Cryptocurrency mining is a way to gain crypto through solving cryptographic equations through a computer or hardware such as the Avalon 6. For example, if you mine Bitcoin you receive Bitcoin for completing blocks of transactions which are added to the blockchain. Its a way to earn potential extra income without paying for it, however […]
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2 Min
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25 must know cryptocurrency terminology basics-for beginners
In order to understand how cryptocurrency works and more complicated matters like cryptocurrency mining, first you have to learn and understand a few key terminologies. This sets the base of your knowledge, it is the building block of your understanding, which you can later build on. Address This identifies senders and receivers of cryptocurrency. It […]
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6 Min
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The 4 types of ISA’s explained
Key things to know about ISA’s: ISA’s or individual savings accounts are a way in which you can save or invest, depending on your risk tolerance, tax free. The ISA limit for the 2022/23 tax year is £20 000, this is known as your allowance which you can spend all or partly by the end […]
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7 Min
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The different savings products available
The returns on savings is determined by the following factors and more: The amount of money saved: the more money you save the more money you will earn in interest. How often money is saved: some accounts may provide better rates if you put in a certain amount of money over regular intervals. For how […]
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4 Min
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How to increase the level of your savings
Savings is income not spent, it is delayed spending and a leakage from the circular flow of income. It’s the money you set aside for future use. Why do people save? People save for many reasons, mainly to be able to buy something they need, want or aspire to have or do in the future. […]
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7 Min
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What everyone ought to know about debt: Good debt vs bad debt
What is debt? Debt is the amount of money someone owes, that they have borrowed from both formal and informal sources, which they must pay back with interest, as compensation to the lender. “Debt is an obligation that requires one party, the debtor, to pay money or other agreed-upon value to another party, the creditor. […]
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8 Min
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How to increase your credit score: 7 ways
What’s a credit score? “A credit score is a numerical expression based on a level analysis of a person’s credit files, to represent the creditworthiness of an individual. A credit score is primarily based on a credit report, information typically sourced from credit bureaus.”-Wikipedia What’s a good credit score? According to the FICO credit scoring […]
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5 Min
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How to improve your money mindset to improve your financial situation
“The money mindset is the overriding attitude you have about your finances.”-Brian Tracy Our money mindset is, to a high extent, influenced by our beliefs, the beliefs that we formed about money as a child and later on in our lives as we developed into the individuals that we are today. Many people hold negative […]
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8 Min
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