Inherited $5000, wat do do? (8 Viewers)

[soha]

just because you see it as wrong
doesn't mean it is wrong

and i think 99% of the people here and on the street would agree


hey, if you have trouble accepting such a simple logical fact, you should go out and save the world from the sinful things human have done

im allowed to not agree with you
im allowed to dislike interest
think its wrong
and not charge people interest..or be charged interest ..or gain interest in any way
i dont care for what ever means
no more then 2.5% neways
and there is no such thing as interest as low as that

 

[soha]

maybe she might say something on the line

"its not fair on the banks behalf that they hold the money for you and that they have to pay you extra, banks are human too!"

im talking from a religious perspective

 

[...]

im allowed to not agree with you
im allowed to dislike interest
think its wrong
and not charge people interest..or be charged interest ..or gain interest in any way
i dont care for what ever means
no more then 2.5% neways
and there is no such thing as interest as low as that

please enlighten me

i'm dying trying not to laught here

 

[jumb]

im talking from a religious perspective

I'm really curious about this now. Ellaborate on that.

 

[Casmira]

im allowed to not agree with you
im allowed to dislike interest
think its wrong
and not charge people interest..or be charged interest ..or gain interest in any way
i dont care for what ever means
no more then 2.5% neways
and there is no such thing as interest as low as that

 

[LeftrightOut]

I'm really curious about this now. Ellaborate on that.

"The collection of interest was restricted by Jewish, Christian and other religions under laws of usury. This is still the case with Islam, which results in a special type of Islamic banking."
http://en.wikipedia.org/wiki/Interest

Edit: Just google the keywords: islam usury interest

 

[jumb]

Well that's pretty silly. Banks provide a service and they should get paid for it. Likewise, we should get rewarded for trusting them with our money.

But we already knew you and your religion were screwed, so I'm hardly surprised.

 

[soha]

Well that's pretty silly. Banks provide a service and they should get paid for it. Likewise, we should get rewarded for trusting them with our money.

But we already knew you and your religion were screwed, so I'm hardly surprised.

please
what do u care
how does it effect you in any way that i wont save my money and earn interest in some account
or i wont let the interest on my credit card grow
it doenst effect you at all?

 

[jumb]

please
what do u care
how does it effect you in any way that i wont save my money and earn interest in some account
or i wont let the interest on my credit card grow
it doenst effect you at all?

Nope. But you're going to get my opinion anyway.

 

[soha]

well interest means to excess or increase. In the Islamic terminology interest means effortless profit or that profit which comes free from compensation or that extra earning obtained that is free of exchange.
so profiting for no reason
charging people for no reason and gaining money for no reason
in islam we are allowed no more then 2.5% interest
which is nothing really....so i cnat get a loan if the interest is above 2.5%
and if i do...then i have to pay it back without paying interest
and it works well for me
because i will never be caught up paying off finance and interest and loans and paying more for my stuff then what its worth because its on credit or i let interest get to me

 

[Sweets]

gosh everyone is so freaking vitriolic. Soha I don't think was trying to impose her perspective on you. Get freaking over it if someone has a different perspective. I don't think there is any need to resort to personal barbs.

Love remember, love.

 

[7th Sign]

Well that's pretty silly. Banks provide a service and they should get paid for it. Likewise, we should get rewarded for trusting them with our money.

But we already knew you and your religion were screwed, so I'm hardly surprised.

yep that is silly banks provide a service of investion people money into things ....these religions are living in the past still....but you cant force people to change their religion

 

[soha]

yep that is silly banks provide a service of investion people money into things ....these religions are living in the past still....but you cant force people to change their religion

i think its a matter of who cares?
our beliefs when it comes to interest dont effect anyone but ourselves so why should people give a shit

 

[7th Sign]

i think its a matter of who cares?
our beliefs when it comes to interest dont effect anyone but ourselves so why should people give a shit

i dont give a shit im just saying some religions are still living in the past...

maby when people stored cash back in the day it was easy when these religions set the rules.....now when people store cash theirs alot more to it....

banks need high security to store cash...
they need computers to run things...
they need power...

these things are not all free so thats why they need a little in return

 

[Toodulu]

it's weird how you're basically saying that soha shouldn't be living under what her religion imposes, yet you're imposing your views on her

but just a bit of finance for you - when you put your money into a savings account you're essentially giving your money to a fund manager who then invests in the capital markets. the 'interest' you get comes from the returns. the money isn't growing itself out of nothing.

 

[uni_punk]

depends on your priorities

hm
do not put it in super..
if u have existing debt on your credit card.. u should pay that off.
then, if u have anything that ur heart REALLY desires.. buy that..or go on holidays.
n then put the rest in ING.

= )

 

[AsyLum]

Wow, never knew about that whole islam and interest thing being "wrong"

It does seem somewhat silly to a capitalist western perspective, but yeah i can understand the logic from which it stems.

 

[soha]

Wow, never knew about that whole islam and interest thing being "wrong"

It does seem somewhat silly to a capitalist western perspective, but yeah i can understand the logic from which it stems.

its not entirely banned
just no more then 2.5%

 

[ism]

Is currency exchange opposed under Islam?

 

[Cyph]

well interest means to excess or increase. In the Islamic terminology interest means effortless profit or that profit which comes free from compensation or that extra earning obtained that is free of exchange.
so profiting for no reason
charging people for no reason and gaining money for no reason
in islam we are allowed no more then 2.5% interest
which is nothing really....so i cnat get a loan if the interest is above 2.5%
and if i do...then i have to pay it back without paying interest
and it works well for me
because i will never be caught up paying off finance and interest and loans and paying more for my stuff then what its worth because its on credit or i let interest get to me

I'm sure you'll have no troubles negotiating with the bank to get interest at 2.5% on any money you deposit, especially when the current rate is 5%+.

Anyway, if you assume an average inflation rate of 4% a year, you would want to be getting around 5% interest on any money you have just to maintain the level of buying power you have at present.