Example of Zakat-eligible assets include: Money - anything no matter the source and if it is in cash or on any bank/savings-account. Properties Only Zakat-eligible if it is investment-property (buying with the primary intent to sell it for profit. Property intended to live in or rent for others to live in is not zakat-eligible. Precious metals such as gold or silver. Jewlery that that you regularly wear and use is not zakat-eligible. Stocks Business Assets as personal: money, property, current goods in stock, etc. if you only own a share of the business, e. g. 50%, you only pay zakat for 50% of the total value. Please note, this is only an example, if you have more than a bit of cash, or in any other way are unsure what applies to you, ask your local mosque or find more information from an Islamic website you trust.

If you obtained a personal loan of any type (car, home, cash), then look at how much you pay per month to your creditors, not the entire outstanding debt. Add up how much you owe each month to your creditors. Multiple this amount by 12 to calculate your annual liability amount. Please note, this is also an example - there may be varying opinions among scholars on what you may and may not deduct, depending on what Islamic-branch you follow (sunni, shia) and what school of jurisprudence you belong to (hanafi, Maliki, jafari etc. . . )

Most Exchange rate websites also keep track of Gold and Silver with currency codes XAU and XAG respectively (1 XAU/XAG is 1 ounce of gold/silver).

The nisab-value can either be calculated based on gold, which is the value of 87. 48 grams (3 ounces) of gold; or it can be calculated based on silver, which is the value of 612. 36 grams (21 ounces) of silver. [4] X Research source

Using the Gold-method gives you more margin before your wealth becomes zakat-eligible, and is a legitimate choice, but using the Silver-method you use the safer method, to be sure your wealth stays pure (halal), and that the needy receives something, even if small.

Your Zakat date is ideally the day you reached the nisab. However, if you aren’t sure on exactly what date, you can approximate this and simply settle for an approximation. If you don’t even know when approximately you reached nisab and this is to complex/impossible to determine, simply adopt the date hijri date of today. You can see and map Islamic/Hijri dates to Christian/Gregorian dates on most phones, or in most prayer apps, but also on websites such as IslamicFinder Hijri and Gregorian Calendar Date Conversions Keep track of the date so you remember when it’s due the next lunar year. You are due your zakat directly, but have one lunar year to pay your zakat, and you can do it in installments - just make sure that it is all payed before a hawl, a whole lunar year since your zakat date, has passed. Many people choose a timing so that they pay zakat during holy month of Ramadan, since Muslims believe a good deed during the holy month has more weight on the scale of good deeds.

If your zakat net worth is more than the nisab, but a complete hawl, a lunar year, has not passed since you reached nisab for the first time (and determined a zakat date), you do not owe any zakat. If your zakat net worth is more than the nisab, and a lunar year, hawl, has passed since you first reached nisab you do owe zakat. If your zakat net worth is less than the nisab, you don’t owe zakat this year, and your zakat date is null and void. This means you now need to keep track of your wealth more regular than each year, to determine a new zakat date. This also means, next time you reach you nisab, you determine you new zakat date, but don’t owe zakat until a hawl has passed, and you still have a net-worth above the nisab.

This means you now need to keep track of your wealth more regular than each year, to determine a new zakat date. This also means, next time you reach you nisab, you determine you new zakat date, but don’t owe zakat until a hawl has passed, and you still have a net-worth above the nisab.

To calculate what 2. 5% is of a sum, multiply your sum with 0. 025, or divide your sum by 100 and multiply by 2. 5 If your zakat pool is $4,000, then your zakat is $100 (4000*0. 025 = 100 or (4000/100=40)*2. 5 = 100)

This is important because Zakat ul-Maal has strict framework of who is eligible to receive zakat. Donating your zakat to e. g. an WWF or Wikipedia or any other organisation, that may very well need it, but falls outside this framework would not count as zakat. You may give zakat to your relatives if they themselves don’t pay zakat (because they do not own wealth), but not to your parents, children nor siblings - those you are obliged to support by your own, non-zakat, means. You have a whole lunar year to pay your zakat, and you can pay them in installments if you want.