´It was narrated from Thawban that the Messenger of Allah (ﷺ) said:` “The best Dinar that a man can spend is a Dinar that he spends on his family, a Dinar that he spends on a horse in the cause of Allah, and a Dinar that a man spends on his companions in the cause of Allah.”
Related hadith on this topic
Explanation & Benefits
Maulana Ataullah Sajid
Benefits and Issues:
➊ Spending on others in relation to oneself is a cause of greater reward.
➋ Fulfilling the necessary expenses of wife and children is obligatory. Spending beyond reasonable limits falls under extravagance, which is not a good habit. Spending on unlawful purposes or giving to wife and children for such expenses is a sin.
➌ Whatever is spent for acquiring items used in jihad and for keeping them in proper condition is also included among the most virtuous expenditures.
➍ During jihad, one should be mindful of each other's needs. At such times, spending on one's companions is also an act of jihad and a cause of great reward.
Source: Commentary on Sunan Ibn Mājah by Mawlānā ‘Atā’ullāh Sājid, Page: 2760