The Seventeenth Type: Penny-pinching
It is a type of stinginess, and it is to spend insufficient amounts of money, although one is rich enough to pay the sufficient amounts. Allah, glorified be He, blameworthy it in His saying: {...those who, when they spend, are neither extravagant nor stingy} (Q. 25:67). Therefore, the context of the verses judges stinginess to be abominable, as well as extravagance and squandering to be abominable also. Both of them are defined as spending the money in a purpose which does not include either providing with a benefit or fighting an injury to the self, money, or honour. From the blameworthy extravagance is spending the money to seek praise from the people, as He, Exalted be He, said: {Like him who spends his wealth to be seen of men} (Q. 2:264). Extravagance and squandering according to Islamic Law are wasting money or spending it for an abominable purpose.
