Allah (swt) says in the Qur’an:
'The likeness of those who spend their money for Allah's sake is as the likeness of a grain (of corn), it grows seven ears, every single ear has a hundred grains, and Allah multiplies (increases the reward) for whom He wills, and Allah is All-Sufficient for His creatures needs, All Knower' (2: 261).
'Who is he that will loan to Allah a beautiful loan which Allah will double unto his credit and multiply it many times?' (2: 245).
Narrated Abu Musa Al-Ash'ari: The Prophet said,
"On every Muslim there is enjoined (a compulsory) Sadaqa (alms)." They (the people) said, "If one has nothing?' He said, "He should work with his hands so that he may benefit himself and give in charity." They said, "If he cannot work or does not work?" He said, "Then he should help the oppressed unhappy person (by word or action or both)." They said, "If he does not do it?" He said, "Then he should enjoin what is good (or said what is reasonable).' They said, "If he does not do that''' He said, "Then he should refrain from doing evil, for that will be considered for Him as a Sadaqa (charity)." (Bukhari - Volume 8, Book 73, Number 5)
Charity is a means of gaining barakah in your wealth. The prophet (pbuh) stated, 'The Charity does not lessen one's money'. It can also lessen or take away sufferings and calamities that a person is experiencing. The prophet (pbuh) said, 'Cure your sick people with Sadaqa (i.e. charity)!' It can also serve as a means of reaping continuous rewards long after you’re gone. Abu Huraira (ra) reported Allah's Messenger (pbuh) as saying: When a man dies, his acts come to an end, but three, recurring charity, or knowledge (by which people) benefit, or a pious son, who prays for him (for the deceased). (Bukhari)
It is more befitting of a Muslim to give in charity from his best possessions and that which he loves most.
'By no means shall you attain righteousness unless you give (freely as a charity) from that which you love; and whatever you spend Allah knows it well.' (3: 92).
Narrated Abu Huraira: Allah's Apostle said, "If somebody gives in charity something equal to a date from his honestly earned money then Allah will take it in His Right (Hand) and bring it up for its owner as anyone of you brings up a baby horse, till it becomes like a mountain." Abu Huraira said: The Prophet. said, "Nothing ascends to Allah except good." (Bukhari)
Narrated 'Ali: While we were in a funeral procession in Baqi Al-Gharqad, Allah's Apostle came and sat down, and we sat around him. He had a small stick in his hand and he bent his head and started scraping the ground with it. He then said, "There is none among you, and no created soul but has his place written for him either in
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