This excerpt is taken from Sheikh Abu Hamza Abdul Khaliq Siddiqi's book Sahih Fazail-e-Amaal.
Allah Almighty says: ﴿يَا بَنِي آدَمَ خُذُوا زِينَتَكُمْ عِندَ كُلِّ مَسْجِدٍ وَكُلُوا وَاشْرَبُوا وَلَا تُسْرِفُوا ۚ إِنَّهُ لَا يُحِبُّ الْمُسْرِفِينَ﴾
"O children of Adam! Wear your beautiful apparel at every time of prayer, and eat and drink but do not exceed the limits. Indeed, Allah does not like those who exceed the limits."
Reference: (7-Al-A'raf:31)
In the mentioned verse, Allah Almighty has expressed displeasure towards those who waste extravagantly. Similarly, He does not like those who withhold spending by holding back their hands or who are miserly. Rather, He prefers the path of moderation, as He has said:
﴿وَالَّذِينَ إِذَا أَنفَقُوا لَمْ يُسْرِفُوا وَلَمْ يَقْتُرُوا وَكَانَ بَيْنَ ذَٰلِكَ قَوَامًا﴾
"And those who, when they spend, do not exceed the limits, nor do they give sparingly, and there is a just balance between them."
Reference: (25-Al-Furqan:67)
﴿وَلَا تَجْعَلْ يَدَكَ مَغْلُولَةً إِلَىٰ عُنُقِكَ وَلَا تَبْسُطْهَا كُلَّ الْبَسْطِ فَتَقْعُدَ مَلُومًا مَّحْسُورًا﴾
"And do not keep your hand tied to your neck (out of stinginess), nor stretch it forth completely (in extravagance), lest you become blameworthy and in need."
Reference: (17-Al-Isra:29)
Dr. Luqman Salafi (may Allah preserve him) writes:
"In this noble verse, the miser is likened to a person whose both hands are tied to his neck, so that with these hands he can neither hold anything nor give anything to anyone. Allah Almighty addressed the Prophet Muhammad (peace be upon him) to advise the believers that those upon whom Allah has commanded spending, they should neither be stingy in spending nor be so extravagant that they waste everything and leave nothing for their children. Because in the case of stinginess, people will blame them for not helping despite having wealth, and due to extravagance, all wealth will be wasted, and the rest of life will be spent in regret and dependence on others. His condition will be like that of a camel that, tired and exhausted while walking on the path, sits down and cannot move forward, so its owner leaves it there and goes on."
Reference: (Taysir ar-Rahman: 6/1-8)
It is narrated from Sayyiduna Abu Hurairah (may Allah be pleased with him) that the Messenger of Allah (peace be upon him) said:
قال الله تبارك وتعالى: يا ابن آدم! أنفق أنفق عليك .
Allah, the Blessed and Exalted, has said: "Keep spending (on others), and I will keep spending on you."
Reference: Sahih Bukhari, Book of Expenditures, Hadith No: 5352 - Sahih Muslim, Book of Zakat, Chapter on Encouragement to Spend, Hadith No: 993.
