Allah gives you wealth to meet your needs in this world. Also, wealth is used to worship Allah. So don’t squander and waste your wealth!
A hadith from Abu Hurairah (may Allah blesses him), that the Messenger of Allah (ﷺ) says,
إِنَّ اللَّهَ يَرْضَى لَكُمْ ثَلاَثًا وَيَكْرَهُ لَكُمْ ثَلاَثًا فَيَرْضَى لَكُمْ أَنْ تَعْبُدُوهُ وَلاَ تُشْرِكُوا بِهِ شَيْئًا وَأَنْ تَعْتَصِمُوا بِحَبْلِ اللَّهِ جَمِيعًا وَلاَ تَفَرَّقُوا وَيَكْرَهُ لَكُمْ قِيلَ وَقَالَ وَكَثْرَةَ السُّؤَالِ وَإِضَاعَةَ الْمَالِ
“Verily, Allah likes three things for you and disapproves three things for you. He likes that you should worship Him Alone, not to associate anything with Him (in worship) and to hold fast to the Rope of Allah and not to be divided among yourselves; and He disapproves for you irrelevant talk, persistent questioning and the squandering of the wealth” [Saheeh Muslim].
Shaikh Ibn Baz says:
“The wealth has many benefits. With it, people in this world deal with their needs, such as food, drink, clothing, vehicles and housing.
That is why Allah says said:
وَلَا تُبَذِّرْ تَبْذِيرًا
“Do not waste extravagance” [Al-Israa: 26].
And He also says:
“Do not be extravagant” [Al-A’raf: 31]
Allah forbids wasting money. The believer and every Muslim must abide by the Sharia in disposing of his money. And not spend money in a way that is not permitted by the purified Sharia” [source: https://bit.ly/397koKZ].
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