Spending our Wealth Carefully is important

Economics Contributor
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Our religion teaches us to spend our wealth carefully. We read in a hadith that on the Day of Resurrection, among the things we will be asked about is our wealth, where we acquired it from, and how we spent it. Therefore, when we are sensible and wary of how we use our wealth, indeed it is incredibly beneficial for us as it is something we will be accountable to our Lord for. Abu Barzah reported:

“The Messenger of Allah, peace and blessings be upon him, said, ‘The feet of a servant will not move on the Day of Resurrection until he is asked about his lifetime and how he used it, his knowledge and how he acted upon it, his wealth and from where he acquired it and how he spent it, and his body and how he exhausted it.’” (Sunan al-Tirmidhi)

In another hadith, we learn that we should give to charity from any extra wealth we have, as those who have wealth should help those who are in need.

Abu Sa’id al-Khudri reported:

“The Messenger of Allah, peace and blessings be upon him, said, ‘Whoever has a spare mount should give it to one who has no mount. Whoever has spare provisions should give them to one without provision,’ and the Prophet mentioned so many kinds of wealth until we thought that none of us had the right to a surplus.” (Sahih Muslim)

When we reflect on this, it reminds us that of course even if we ourselves are going through a financial struggle, there are people who are in poverty and have nothing at all. Allah rewards us for the patience and strength we bear throughout our struggles, when we remember that indeed Allah is the only one who can truly help us. However, there will always be someone who has less than us, as each person is in a different situation. When we think about this, it makes us more grateful for what we have.

We also learn that any wealth we spend on our family, with the intention to seek rewards from Allah, is counted as a charity from us.

Abu Mas’ud reported:

“The Prophet, peace and blessings be upon him, said, ‘If a Muslim spends on his family seeking reward from Allah, it is charity for him.’” (Sahih Bukhari and Sahih Muslim)

This shows us how valuable it is for us to spend on our family. Although it may be something we do without much thought, as we may perceive it to just be a part of our lives, it is certainly counted as a charity from us. There is a great reward for charity in Islam, so not only have we been blessed with the chance to seek that reward through donating to those in need, but we can also seek that reward through the wealth we spend on our families. Al-Bara’ ibn ‘Azib reported:

“The Messenger of Allah, peace and blessings be upon him, said, ‘Whoever donates a gift of milk, or a piece of silver, or who guides others through a strait, he will be rewarded as if he has freed a slave.’” (Sunan al-Tirmidhi)

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