Preparing your finances for Ramadan

This month, Muslims worldwide will embark on a personal journey of self discipline and spiritual renewal. They will abstain from food and drink, give charity to the needy and attempt to recite the Qur’an in its entirety before month’s end. In addition to these rituals, many will use the holy month of Ramadan as an opportunity to perform an overall assessment of their lives. As you perform your assessment, consider reviewing your relationship to money—specifically, how you invest it. Invest with faith The way we invest our money reflects our personal values. Although you may never consider smoking or drinking alcohol, your portfolio may be laden with such companies. So, identifying the companies that don’t align with your values is important. But that’s easier said than done. For example, the company Schweitzer-Mauduit International sounds harmless enough, right? Think again. They actually engineer a wide range of specialty paper, primarily for the tobacco industry. On a personal note, my father and father-in-law were heavy smokers who ultimately succumbed to cancer. I don’t want my money invested in anything related to the tobacco industry. You may also want to actively seek companies that support human rights and avoid those that don’t. A