Re: Saving Money
From what I have learned from my teachers, you have to pay zakat on any and every saving you have for over a year after you have cleared your debts. For example if you have a PKR 10,000 worth of money saved for over a year and after one year you also have a debt of say 5000 then the amount you are supposed to pay zakat on is 5000. Same is the case with any other type of saving as well (like jewelry). I don’t have any references for all this information though, since this is what i studied back in school (its been ages now). So may be consult some scholar or check existing forums regarding zakat.