The Muslim man is generous with his wealth, because he knows that generosity doesn’t diminish his wealth, in fact it increases it. Allah subhananhu wa ta’la said:
“Who will give Allah a goodly loan so he may multiply it many times.” (Al-Baqarah:245)
And Ibn Abbas said about the Prophet ﷺ:
“The Messenger of Allah was the most generous of the people and he was most generous during Ramadan.” (Al-Bukhari)
Generosity increases wealth because it shows that you are appreciative of Allah’s blessings and know that your sustenance is from Him and not just your own efforts, and Allah rewards those who are thankful.
John Templeton, one of the greatest investors of the 20th century, said:
“I have observed 100,000 families over my years of investment counselling. I always saw greater prosperity and happiness among those families who tithed (gave charity) more often.”
And this something repeated by Bill Gates, Warren Buffet, Oprah, and other successful business people.
There is a greater benefit than this for the Muslim man… generosity raises your stature and covers your faults in this life and is a source of abundant rewards in the next life. Allah can bless you with wealth and then take it all away in an instant, and once you are dead it ceases to be of any benefit, so why hold on to it with such vehemence?
The Muslim man knows that the real benefit of money and wealth lies in supporting your family and giving it to others, because generosity leads to happiness and success in the Dunya and the Hereafter. Nothing can raise your honor, stature and remembrance among the people better than generosity, and nothing can ruin your honor more than miserliness.
But how should the Muslim man spend his hard earned money? The Prophet (saw) said:
“The best dinar that a man can spend is the dinar spent on his family.” (Ibn Majah)
So the Muslim man spends first on his household, then on his relatives, then on his friends and then on the general people. The people that the Muslim man does not give his money to are those who are mentally impaired, either due to an affliction or due to an addiction to drugs, alcohol, or gambling, because, at best, they will waste the money, at worst, they will spend it on haram.
“And do not give the weak-minded your property, which Allah has made a means of sustenance for you, but provide for them with it and clothe them and speak to them words of appropriate kindness.” (An-Nisa:5)
If the Muslim man wants to give to someone like this, then he donates his money to individuals and organisations who are responsible for helping them, or he buys food and clothing for them instead of giving them cash.
So spend generously on your loved ones and you will soon see the reward for your generosity, inshallah.