We fall prey to either of 2 extremes: Either miserliness or extravagance. It is really surprising. We consider miserliness as bad but don’t consider extravagance so, although miserliness doesn’t hurt others. The miser himself (or herself) remains bereft of the reward of charity and alms. Not sacrificing when there is a need is miserliness. A miser is one who doesn’t sacrifice (for the sake of others) and doesn’t give his own wealth to anybody. A “Mumassik” is a person who doesn’t give his own wealth and stares longingly at the wealth of others.
If we look carefully, we can see that extravagance has more ills than miserliness. However, Almighty Allah and His Prophet (Sallallahu alaihi wa sallam) have condemned miserliness as a miser is bereft of the reward of virtuous deeds and there are strict warnings about this as well.
Shaykh Sa’adi (May Allah shower His mercy on him) has said:
Rough translation:
No matter if a miser becomes the most virtuous of all
He can’t enter paradise as mentioned in the Hadith
The Holy Prophet (Sallallahu alaihi wa sallam) saw a person clutching the chain of the door of the Ka’aba and saying: O Lord! Forgive my sins for the sake of this blessed Ka’aba.
The Holy Prophet (Sallallahu alaihi wa sallam) asked him as to what great sin he had committed.
He said: O Prophet of Allah (Sallallahu alaihi wa sallam)! I am affluent and have wealth and means, but when any pauper asks something of me, I get so enraged that I feel as if I am on fire….
The Holy Prophet (Sallallahu alaihi wa sallam) said: You wretch! Get away from the Ka’aba lest your sins should destroy other creation as well. By Allah who has sent me for guidance of the creation! Even if you offer Salaat in the Ka’aba for 1000 years, fast and cry so much that your tears run in rivers and irrigate trees and people draw benefit from them. In spite of all this, if you die in miserliness, you will still go to hell as miserliness is like disbelief and the requital for disbelief is the fire of hell.
[Excerpted from Mawaaiz-e-Hasana, Vol. 1]