Sharia financial planning is planning one's financial following the principles of Sharia, or Islamic law, taken from the Qur'an and the example of Prophet Muhammad (peace be upon him). Sharia, literally translated, means "the way" or "the way to water fount". It is one of the way one to live the world in prosper and at the same time to prepare a save way to heaven.

Sharia financial planning ties closely with the Islamic finance. Central to Islamic finance is an understanding of the importance of risk sharing as part of raising capital and the avoidance of riba (usury) and gharar (risk or uncertainty).

Sharia-compliant finance (halal, which means permitted) permits the financial institution shares in the profit and loss of the enterprise that it underwrites.

The Practice of riba is proscribed under Islamic law (haram, which means prohibited) as it is considered usurious and exploitative.

Of equal importance is the concept of gharar. Defined as risk or uncertainty, in a financial context gharar refers to the sale of items whose existence is not certain. Examples of gharar would be forms of insurance, such as the purchase of premiums to insure against something that may or may not occur or derivatives used to hedge against possible outcomes [reference: Marc L. Ross, CFP, CPA, CLU].

One of the central roles in Sharia financial planning is to ensure one's or family's wealth accumulation process, through Sharia-compliant investment vehicles available.

Further, Sharia financial planning manages one's or family's need and wants according to the priority guided by the Islamic law. There are five Sharia basic goals every one or family should pursue and achieve in life, they are: (1) protection of the faith / iman, (2) protection of the life / hayah, (3) protection of progeny / nasab, (4) protection of property / maal, and (5) protection of intelect / aql. The five basic goals set priority in the planning for one's or family's financial.

In conclusion, Sharia financial planning is a planning that gives one or a family a design of their future for a better life, providing solutions for cash flow management, asset allocation and-or investment; for one's or family's financial, non-financial and spiritual needs, be it short-term, medium-term, or long-term, to be prosper while living the world, and to enter the heaven in the afterlife, can be achieved - insya Allah.