Question about Zakatgreenspun.com : LUSENET : Zakbt : One Thread
Issalamu Alaykum I am the one supporting myself, I am trying to save from my job as much money as possible for any future needs as sickness, loss of job, family support etc.... I always try to avoid unnecessary expenses to save more money for the above reasons but It doesn't mean that I am depriving myself.I am not investing the money saved in any project because I do not have any experience in running businesses and the money is not enough to start any project. My question is:
If I was able to save up an X amount of money per year, Do I pay Zakat each year for the cumulative sum of all the saving of the years before? or is it only on the amount saved that year?? and if we have to pay for previous years how do we calculate the unpaid Zakat for previous savings?
-- BASMA Al Rawi (firstname.lastname@example.org), November 01, 2004