Moderate Budget

"To be moderate in spending is half of good-living."
Almighty Allah praises His pious servants in The Quran by saying:
Those who when they spend are not extravagant and not niggardly but hold a just (balance) between those (extremes). (Surah Furqaan, verse 67)

Nabi Muhammad Rasoolullah sallallahu alaihi wasallam was in fact instructed by Allah to be moderate in even the great act of sadaqah or charity, as the following verse tells:
Make not your hand tied (like a niggard's) to your neck nor stretch it forth to its utmost reach so that you become blameworthy and destitute. (Surah Bani Israel verse 29)
These teachings exhort Muslims to adopt a moderate budget, and in view of today's way of living we can truly appreciate the value of such a teaching. All financial problems arise when people overspend or are wasteful. Big business empires were reduced to ruins through excessive expenditure and over-indulgence. Simply to satisfy their worldly pleasures and indulgences people will spend more than they earn. Such living above one's means is not good living as far as Islam is concerned.