Abu Umama reported Allah's Messenger (ﷺ) as saying: O son of Adam, it is better for you if you spend your surplus (wealth), but if you withhold it, it is evil for you. There is (however) no reproach for you (if you withhold means necessary) for a living. And begin (charity) with your dependants; and the upper hand is better than the lower hand.
Related hadith on this topic
Explanation & Benefits
Shaykh Maulana Abdul Aziz Alvi
Hadith Commentary:
Benefits and Issues:
It is better for a person that whatever wealth he earns or receives through any means, he should keep from it only as much as is needed for himself and those under his care, and spend the rest in good deeds or on the servants of Allah. He should strive to be among those who give, not those who take.
Source: Tuhfat al-Muslim: Commentary on Sahih Muslim, Page: 2388
Shaykh Dr. Abdur Rahman Freywai
Explanation:
1:
The meaning is that if Allah has blessed you with wealth and riches, then take care of your own needs and those of your family and dependents from it, and distribute the surplus wealth among the needy and deserving. This is because hoarding leads to undesirable consequences both in this world and the Hereafter. Hoarding gives rise to many evils in society, and the outcome of miserliness in the Hereafter is absolutely clear.
Source: Sunan al-Tirmidhi – Majlis ‘Ilmi Dar al-Da‘wah, New Delhi Edition, Page: 2343