Hi people,
I would love to hear what you folks think!
I am from Melbourne, graduated recently and want to invest.
Now after reading tons of stuff I need a push in the right direction if possible.
I know the drill:
(1) Know your saving goals
(2) Save up a 6 months pay before investing
(3) start with property ( some sort of pool …??)
Now my scenario is the following:
(1) close to 6 months pay saved up
(2) Want to move my money into a halal savings account that is easily accessible but don’t really feel secure with an online bank. There is something coming to Australia btw. (IBA Group Australia)
(3) I need a new car but don’t want to blow my savings on it. Need money for marriage this year too (nothing too big anyway) and want to save up for hajj in the next 2 years.
So I guess my main question is.
I am planning to take Islamic finance for the car and invest my savings. I am about to learn how to invest directly myself and want some autopilot options too. Would you finance the whole car or pay 1/3 with the saving and finance the rest? Or would you finance at all if you can pay for it?
Where would you move your savings readily available (liquid)? Any advice on this is highly appreciated.
Just trying to get a clearer picture as I have been bombarding my grey matter quite a bit.
Best Regards