Zakat

[Amna4]

I've heard that if you don't pay Zakat, then your fasting during Ramadan will be pointless. If this is true, do I still need to pay? I only make about $4000 a year, and pay out $20,000+ for university.

[amr123]

I've heard that if you don't pay Zakat, then your fasting during Ramadan will be pointless. If this is true, do I still need to pay? I only make about $4000 a year, and pay out $20,000+ for university.

It depends upon your savings you have after your expenses. If you own the money equal to the Nisab(minimum amount) for a whole year then you will have to pay 2.5% Zakat on the savings.

More details here: http://askimam.org/public/question_detail/17114

[Muj4h1d4]

Zakat is on the MINIMUM amount you have in your bank all year round.

And of course on your gold jewellery also.