Trump Won. Now What?

Assalamu Alaikum girlie! 🌸

Well, it’s official: Donald Trump has won the 2024 presidential election.🇺🇸 

Whether you’re feeling scared, extremely happy, or don’t even know what I’m talking about—- it’s okay. Elections can change political landscapes, but they don’t have to define our personal goals—especially our financial ones.

As Muslims, we know that true power lies only with Allah, and we have the tools and guidance to continue building the lives we want for ourselves and our families, no matter who’s in office. 💫

🎉 But first: The Finance Girlie App is Ready for Testing!

It’s been in the works for months and I’ve dropped some hints but it’s finally here!😆

This web app was designed to help Muslim women manage their money to build wealth. Here’s what you’ll find:

• Budgeting Tools 📊 – Connect your bank account to create a budget, track income and expenses seamlessly to stay on your financial goals!

• Personalized Financial Coaching 💬 – Get tailored guidance and accountability from a coach to finally reach your goals.

• Workshops & Courses 🎓 – Access exclusive workshops, resources, and our course to build your financial knowledge.

To get early access to test the app, simply respond to this email. Thank you all for your support.💖

Now back to last week’s news… Today, let’s refocus on what’s within our control and take some intentional steps forward. You don’t have to wait until January 1st to start on your financial goals.

Here’s a list of 7 tips to maintain control of your financial plan going into 2025.

Let’s dive right in

✨ 7 Tips to Maintain Control

1. Get Familiar with 2025 Retirement and Tax Changes 📅
   The IRS updates tax brackets and retirement contribution limits each year. For example, the 401(k) and 403(b) limits will be $23,500 in 2025, up from $23,000 in 2025. Learn more about these changes and others from the IRS website: irs.gov. These adjustments affect things like how much you can contribute to your retirement accounts and potential tax savings.

2. Build Up Your “Peace of Mind” Fund 🕊️
   Having an emergency fund—at least three months’ worth of expenses—gives you a layer of protection, regardless of any political or economic shifts. If you already have an emergency fund, consider topping it up a bit before year’s end.

3. Refine Your Spending and Saving Habits 💸
   As we approach major annual sales like Black Friday, retail sales soar, and it’s easy to get caught up in the spending rush. Take a look at where your money has gone this year and identify areas you can scale back—whether it's on dining out, subscriptions, or impulse buys. If you’ve been eye-ing a specific bed-set or TV to buy, take advantage of the discounts and don’t go into debt for it.

4. Diversify Your Income Streams 🌱
   This is arguably the best time of year to get a side-gig. Delivery services, babysitting, and even house sitting are going to be very handy. If you’ve been contemplating a side gig, now’s the time to find one. Knock on your neighbor’s door and offer your services!

5. Think Twice Before Adding New Debt 🚫
   When times feel unpredictable, focus on staying as debt-free as possible. Only take on debt if it’s absolutely necessary, and remember, a low-cost lifestyle can give you peace of mind. Avoid “buy now, pay later” temptations, and focus on intentional spending that keeps you within your means.

6. Stay Informed and Connected to Community Knowledge 🤝🏽
   The financial world changes fast, especially with new political terms. Take advantage of communities focused on halal investing or Islamic finance, and keep learning. A great way to get insights is to join online groups or forums where others share their tips, strategies, and questions. Remember, you’re not in this alone!

7. Meet with a Tax Pro Before Year-End 
   Pan to meet with a tax professional before the year ends, especially if you’re self-employed or have done freelance gigs; this can be a game-changer. They can help you understand any deductions, credits, or tax-saving opportunities specific to your situation, so you’re not hit with surprises come tax season. Planning ahead can help you save more and close out the year with confidence!

Our hope is in Allah, not in any government or leader. When we remember this, we can approach our financial goals with peace and confidence, regardless of external changes. Allah is Al-Razzaq, the Provider, and no president or policy can disrupt the rizq He has written for us. Place your trust in Him, and know that He has empowered you to make intentional, faith-driven decisions.

Stay safe,

Fatimah ✨ 

Founder, Finance Girlie

P.S. Reply if you want access to the Finance Girlie app—it’s time to smash those financial goals!