In a Hadith found in Sahih Bukhari, number 6444, the Holy Prophet Muhammad, peace and blessings be upon him, warned that the rich in this world will be poor in the hereafter unless they spend their blessings correctly but these people are a few in number.
This means that the majority of wealthy people incorrectly spend their wealth. Meaning, on things which are either vain and therefore provide them with no benefit in the hereafter and no real benefit in this world. Or they spend on sinful things which will become a burden for them in both worlds. Or they spend on lawful things in a way disliked by Islam such as being wasteful or extravagant. Because of these reasons the rich will become poor on Judgment Day, as they did not use their blessings, such as their wealth, in ways pleasing to Allah, the Exalted. This poverty will lead to a difficult accountability, stress, regrets and even punishment.
In addition, those who hoard their wealth will find that their wealth abandons them at their grave and so they will reach the hereafter empty handed meaning, as a pauper. This has been warned in a Hadith found in Jami At Tirmidhi, number 2379. The deceased will leave the wealth behind for others to enjoy while they are held accountable for earning and hoarding it.
Finally, as the wealthy are distracted by gaining, hoarding, safeguarding and increasing their wealth, it distracts them from performing righteous deeds, which is the thing that will make someone rich on Judgment Day. In reality, losing out on this will make them poor.
It is important to note, spending wealth correctly is not only donating charity but includes one’s spending on their necessities and the necessities of their dependents without being wasteful or extravagant.
The truly rich person is the one who uses their blessings, such as their wealth, correctly as prescribed by Islam. This person will be rich in this world and in the next. Chapter 16 An Nahl, verse 97:
“Whoever does righteousness, whether male or female, while he is a believer – We will surely cause him to live a good life, and We will surely give them their reward [in the Hereafter] according to the best of what they used to do.”
In reality, this person takes their blessings with them to the hereafter. This attitude also provides them with free time which allows them to perform righteous deeds, which in turn, only increases their richness in the hereafter.
Finally, the one who uses the blessings they have been granted in ways pleasing to Allah, the Exalted, has demonstrated gratitude to Him. This will lead to an increase in blessings for them in both worlds. This is the correct definition of richness. Chapter 14 Ibrahim, verse 7:
“And [remember] when your Lord proclaimed, ‘If you are grateful, I will surely increase you [in favor]…”
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