Giving a detailed explanation of this issue, Dr. Monzer Kahf, a prominent economist and counselor states that ‘The criteria for this is having sufficient fund to pay for the travel and other cost of going to Hajj above the normal expenses of ones family.

What does this mean? If a person is a salaried person and he expects his employment is continuing, his net income is sufficient to pay for the family needs and normal expenses. In addition he has savings and other assets that are liquidatable if need arises, so that he can pay for the cost of going for Hajj, then he is required to go for Hajj, strictly same year according to some views or as soon as he reasonably can according to the majority.

Of course one’s need vary depending on whether one rents or owns, married or not or in need for marriage and under debts that need to be paid from available savings or not (debts that are not to be paid from available savings do not hinder using these savings for Hajj), etc.’