Finances aren’t just about lifestyle or showing off your balance, but about how we manage our money to thrive in this world and the hereafter. Think about how much time and energy we spend earning money? Unfortunately, many end up trapped in a “payday-payday-payday” cycle: money comes in, it’s immediately spent on consumption, and then we wait for the next paycheck. Yet, Islam reminds us that every penny we manage is a trust. The Prophet (peace be upon him) said:
« لَنْ تَزُولَ قَدَمَا عَبْدٍ يَوْمَ الْقِيَامَةِ حَتَّى text أَنْفَقَه ُ»
“A servant’s foot will not move on the Day of Resurrection until he was asked about his wealth: where he got it from and what he spent it on.” (HR. Tirmidhi ).
So, finance is not just about lifestyle, but about accountability before God.
Managing Money is Smart, Not Stingy
Managing money isn’t a sign of stinginess, but of intelligence. Sometimes people misunderstand that if we’re careful with our spending, we’re immediately labeled “stingy.” However, in Islam, stinginess has a term: stinginess , and this trait is strictly forbidden. Why? Because stinginess isn’t just about being frugal, but also withholding what should be spent, whether for oneself, one’s family, or others.
Allah ﷻ reminds us very clearly:
وَلَا يَحْسَبَنَّ الَّذِينَ يَبْخَلُونَ بِمَا آتَاهُمُ اللَّهُ مِنْ فَضْلِهِ هُوَ خَيْرًا لَّهُم بَلْ هُوَ شَرٌّ لَّهُمْ سَيُطَوَّقُونَ مَا بَخِلُوا بِهِ يَوْمَ الْقِيَامَةِ وَلِلَّهِ مِيرَاثُ السَّمَاوَاتِ وَالْأَرْضِ وَاللَّهُ بِمَا تَعْمَلُونَ خَبِيرٌ
“Never let those who are greedy with the wealth that Allah has given them from His grace think that this is good for them. In fact, this is bad for them. The wealth that they are greedy for will be hung around their necks on the Day of Resurrection. And to Allah belongs all the inheritance (that exists) in the heavens and the earth. And Allah knows what you do.”
( Quran Surah Ali Imran : 180)
The Prophet ﷺ also warned:
« وَإِيَّاكُمْ وَالشُّحَّ فَإِنَّهُ أَهْلَكَ مَنْ كَانَ قَبْلَكُم ْ»
“Away from stinginess (bakhil), because it has destroyed people before you.” (HR. Muslim )
So, be careful in managing your finances, not stingy. That’s how we safeguard our trust, understand our priorities, and ensure that the wealth entrusted to us by God doesn’t become a burden in this world or the hereafter.
Also read: Avoid Doubtful Investments, Align Wealth with Faith
Being wasteful is not cool, it’s actually destructive.
While stinginess is wrong, wastefulness, or mubadzir, is also condemned. However, wastefulness in Islam isn’t just about excessive spending. Scholars explain that wastefulness involves using one’s wealth for something that is forbidden, futile, or useless. So, even if the amount is small, if it’s used for sinful purposes, it’s still considered wasteful.
Allah ﷻ says:
إِنَّ الْمُبَذِّرِينَ كَانُوا إِخْوَانَ الشَّيَاطِينِ وَكَانَ الشَّيْطَانُ لِرَبِّهِ كَفُورًا
“Indeed, those who are wasteful are Satan’s brothers, and Satan is very disbelieving of his Lord.” (QS. Al-Isra: 27)
Ibn Kathir Rahimullah interpreted this verse to mean that mubadzir is spending one’s wealth not on the path of obedience to Allah. So excessive spending for prestige, extravagance without benefit, especially for things that are haram such as usury, gambling, or other immoralities – all of these are wasteful qualities that are condemned.
So, managing finances is not just about limiting yourself, but also about keeping your assets clean, useful, and used as provisions for worship.
Also read: Meaning Of Principle: Stay Firm Through Trials
Between Desire and Trust
Have you ever felt a dilemma like this: wanting to save, but tempted by discounts; wanting to give alms, but afraid of running out of funds; wanting to invest, but worried about losses? Well, this is what’s called internal financial conflict.
Financial management isn’t just about numbers, but also about mindset and faith . Islam teaches us to be balanced: neither stingy nor wasteful. But the reality is, temptations come from everywhere: advertising, trends, friends, even prestige.
The Prophet ﷺ once reminded:
« لَوْ كَانَ لِابْنِ آدَمَ وَادِيَانِ مِنْ ذَهَبٍ لَأَحَبَّ أَنْ يَكُونَ لَهُ ثَالِث ٌ»
“If the son of Adam had two valleys of gold, he would certainly want a third.” (Narrated by Bukhari and Muslim )
This hadith doesn’t forbid us from being rich, but rather reminds us: lust is insatiable. If left unchecked, no amount of money will feel insufficient.
Therefore, learning to manage this internal conflict is crucial. The key is not to kill desires, but to direct them. Distinguish between desires that support worship (zakat, almsgiving, halal investments) and those that merely satisfy the ego (prestige, wastefulness, sin).
Also read: Starting a Business: Start with Intention, Not Just Profit
Make Wealth a Path to Worship
Now that we understand the dangers of stinginess and wastefulness, as well as the internal conflicts that often arise, the question is: how do we manage our money to achieve peace, blessings, and productivity? The answer: use our wealth as a means of worship.
Islam is not hostile to wealth. In fact, with well-managed wealth, we can give more to charity, help our families, help others, and stimulate a halal economy. The key lies in three things:
- Get to know the trust of assets.
Remember, everything we have is entrusted. The Prophet ﷺ said :
« لَا تَزُولُ قَدَمَا عَبْدٍ يَوْمَ الْقِيَامَةِ حَتَّى يُسْأَلَ عَنْ… مَالِهِ مِنْ أَيْنَ اكْتَسَبَهُ وَفِيمَ أَنْفَقَه ُ»
“A servant’s feet will not move on the Day of Resurrection until he is asked… about his wealth: where he got it from and what he spent it on.” (HR. Tirmidhi ) - Allocate with Balance:
Prioritize basic needs and obligations (living expenses, zakat), set aside an emergency fund, and set aside money for charity and halal investments. Enjoy the fruits of your labor, but avoid overspending. - Resist the Temptation to Be Wasteful and Stingy
Remember that wasteful people are brothers of Satan (QS. Al-Isra: 27), and stinginess is a burden in the afterlife (QS. Ali Imran: 180). So, be balanced: be frugal, not stingy, and give, not wasteful.
Also read: Having the Right Intention in Work According to Islam
Conclusion
Wealth is like a knife: it can be a tool for good, or it can be a source of trouble. Islam offers comprehensive guidance: don’t be stingy, don’t waste, and turn every rupiah into a source of reward.
Start small: track your expenses, separate your needs from your wants, and set aside money for charity and halal investments. Don’t wait until you’re rich to become wise, because what will be asked in the afterlife is not how much wealth you have , but how you manage it .
Managing money isn’t about being stingy, it’s about being smart. And even smarter: making it a form of worship.
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Reference:
Al-Qur’an al-Karim. Accessed from https://tafsirweb.com
At-Tirmidhi, Muhammad bin Isa. Sunan at-Tirmidhi . accessed from https://sunnah.com/tirmidhi:2417
Al-Adab Al-Mufrad, Ḥadīth no. 470. Accessed from https://sunnah.com/adab:470
Riyāḍuṣ-Ṣāliḥīn, Kitāb al-Muqaddimāt, Hadith no. 23, Riyad as-Salihin. Accessed from https://sunnah.com/riyadussalihin:23
