Al-Dai-al-Ajal Syedna Mohammed Burhanuddin RA states:
“Properly balance your household expenditure. Do not spend more than what you earn. One should create a budget according to his earnings. Allah gives rizq, but it is imperative to understand its importance and not squander away the wealth behind unnecessary items and neglect that which is necessary.
But it should be kept in mind that helping out a brother or helping your neighbor is not unnecessary spending. If Allah has blessed you with a rupee, you should consider the fact that your brother does not even have 4 annas. You giving him 2 annas will amount to your sa’adat. You will still be left with 14 annas. You shouldn’t deny the fact that you have been blessed, and refuse to give on those grounds. Allah gives and has given you. You should share it with Allah’s ́ibaad. His ́ibaad are His family. You shall have His gratitude and gain more rizq.
Limit even that what you earn by halal means. Do not tire yourselves to the extent that you are unable to do anything else in life. Some feel that earning big early in life will help them in the future. Allah Ta’ala bestows livelihood in every age. Albeit, it is necessary to have your investments in place, but do not indulge in such activities which impoverish you in the present to secure your future. That is illogical.”