Spending too much and spending too less:

It has been related on the authority of Hadhrat Ibn Salma (May Allah be well pleased with him) that he asked Hadhrat Abu Saeed Khudri (May Allah be well pleased with him): What do you say about the new food, clothes and modes of transport which people have started using?

He said: Keep you food, clothing etc. as per the command of Allah (Subhanahu Wa Ta’ala).  Those things which are meant for showing off and pride are all sin and extravagance (spending too much).

Hadhrat Hasan Basri (May Allah be well pleased with him) says: I am surprised at that man who spends money to fulfill his desires and is extravagant and is miserly (spends too less) in spending even 1 dirham for the pleasure of Allah Ta’ala. O you who don’t care about your Aakhirah! Tomorrow (i.e. on the Day of Judgment) you will realize what is your status with Allah Ta’ala.

He also says: Do not expect a miser (bakheel) to help somebody.  The person who expects a miser to help somebody is like the one who wants to fish in a desert.