Squandering money is spending it in a wasteful and extravagant way. A person gains no benefit from this. It leads to a practical and intellectual imbalance regarding the purpose of money in life. The purpose is to fulfill man's general and private needs within a limited scope, without excess. Therefore, squandering is an attitude emanating from a psychological whim. It results from psychological illnesses that coincide with corruption and a lack of significant interest in life.
Thus, we realize that squandering is irresponsible spending. It means messing with money and derailing it from its functional role. This includes spending money in wrong or illegitimate ways. It does not include spending all one's money in rightful places. Losing money in the latter case entails compensation through the benefit one gets in return.
This is what Islam wants man to abstain from. It confirms that nothing in life should be spent without a return. This return represents a benefit for life.
Allah says: "Indeed, the wasteful are brothers of the devils, and ever has Satan been to his Lord ungrateful." Surah Al-Isra (17:27). The squanderers are the fellows of the devils. They meet over the attitude of going after whims and rejecting logic. This moves them away from Allah by moving away from the line of belief. It is the line Satan wants them to pursue in all aspects of their lives. Satan is ever ungrateful to his Lord. He acts in rebellion and moves man away from obeying Allah. Thus, Allah reveals that practical deviation in any field, even financial, represents a deviation from the line of faith. It is not a mere insignificant state. There are two lines in practical behavior: the line of Allah and the line of Satan. If one moves away from Allah's line, he will follow Satan's line. A person must look at his practical steps to know which line he follows.
Allah’s saying: "And do not make your hand [as] chained to your neck" signifies the line of balanced spending. Allah does not want man to abstain from spending any money, as if his hands are tied to his neck. This implies the absolute forbiddance of stinginess. "Nor stretch it forth to the utmost [limit of its] capacity," meaning that man should not give out all he has. He should not stretch his hand to its utmost reach, keeping nothing for his future. This is "lest you should [afterwards] sit down blamed," living in a state of blaming yourself for not keeping any money to preserve your dignity. And "destitute," facing people while in need. This leads to many financial and moral problems.
A question must be asked: How do we balance this principle, which forbids giving all one has, with the principle of altruism? Altruism is a spiritual value the Quran mentions. The principle is based on maintaining balance when giving. Man should keep something for himself to help him benefit himself and others. As for altruism, it calls on man to put others' interests before his own. He should be ready to concede a thing if others in need ask for it, even if it is all he has left. The principle of altruism and the principle of not giving all one has differ in their meanings. Giving should be balanced between tying one's hand to his neck and extending it to the fullest. Life should be balanced to set people's affairs straight. A person should give to whom he wants, yet in a balanced way. He would not give it all, nor keep it all.
Interpretations inspired from the Holy Quran
Squandering money is spending it in a wasteful and extravagant way. A person gains no benefit from this. It leads to a practical and intellectual imbalance regarding the purpose of money in life. The purpose is to fulfill man's general and private needs within a limited scope, without excess. Therefore, squandering is an attitude emanating from a psychological whim. It results from psychological illnesses that coincide with corruption and a lack of significant interest in life.
Thus, we realize that squandering is irresponsible spending. It means messing with money and derailing it from its functional role. This includes spending money in wrong or illegitimate ways. It does not include spending all one's money in rightful places. Losing money in the latter case entails compensation through the benefit one gets in return.
This is what Islam wants man to abstain from. It confirms that nothing in life should be spent without a return. This return represents a benefit for life.
Allah says: "Indeed, the wasteful are brothers of the devils, and ever has Satan been to his Lord ungrateful." Surah Al-Isra (17:27). The squanderers are the fellows of the devils. They meet over the attitude of going after whims and rejecting logic. This moves them away from Allah by moving away from the line of belief. It is the line Satan wants them to pursue in all aspects of their lives. Satan is ever ungrateful to his Lord. He acts in rebellion and moves man away from obeying Allah. Thus, Allah reveals that practical deviation in any field, even financial, represents a deviation from the line of faith. It is not a mere insignificant state. There are two lines in practical behavior: the line of Allah and the line of Satan. If one moves away from Allah's line, he will follow Satan's line. A person must look at his practical steps to know which line he follows.
Allah’s saying: "And do not make your hand [as] chained to your neck" signifies the line of balanced spending. Allah does not want man to abstain from spending any money, as if his hands are tied to his neck. This implies the absolute forbiddance of stinginess. "Nor stretch it forth to the utmost [limit of its] capacity," meaning that man should not give out all he has. He should not stretch his hand to its utmost reach, keeping nothing for his future. This is "lest you should [afterwards] sit down blamed," living in a state of blaming yourself for not keeping any money to preserve your dignity. And "destitute," facing people while in need. This leads to many financial and moral problems.
A question must be asked: How do we balance this principle, which forbids giving all one has, with the principle of altruism? Altruism is a spiritual value the Quran mentions. The principle is based on maintaining balance when giving. Man should keep something for himself to help him benefit himself and others. As for altruism, it calls on man to put others' interests before his own. He should be ready to concede a thing if others in need ask for it, even if it is all he has left. The principle of altruism and the principle of not giving all one has differ in their meanings. Giving should be balanced between tying one's hand to his neck and extending it to the fullest. Life should be balanced to set people's affairs straight. A person should give to whom he wants, yet in a balanced way. He would not give it all, nor keep it all.
Interpretations inspired from the Holy Quran