Islam teaches moderation and encourages us to live a respectable but prudent financial life. “O children of Adam! look to your adornment at every time and place of worship, and eat and drink but exceed not the bounds; surely, He does not love those who exceed the bounds.” (7:31/32)
“And He it is Who brings into being gardens, trellised and untrellised, and the date-palm and cornfields whose fruits are of diverse kinds, and the olive and the pomegranate, alike and unlike. Eat of the fruit of each when it bears fruit, but pay His due on the day of harvest and exceed not the bounds. Surely, God loves not those who exceed the bounds.” (6:141/142)
Islam forbids extravagance so that the earned or inherited wealth is preserved and lasts longer. “Verily, the extravagant are brothers of satans, and Satan is ungrateful to his Lord.” (Quran, 17:27/28)
Islam encourages consumption of wholesome food for good health for man to be a productive member of the society. It discourages drinking and consumption of harmful substances. It forbids gambling.
“They ask thee concerning wine and the game of hazard. Say: ‘In both there is great sin and also some advantages for men; but their sin is greater than their advantage.’ And they ask thee what they should spend. Say: ‘What you can spare.’ Thus, does Allah make His commandments clear to you that you may reflect.” (2:219/220)
In this verse and the one below, we are directed to observe moderation and wisdom even when helping others and engaging in acts of charity.
“And keep not thy hand chained to thy neck, nor stretch it out an entire stretching, lest thou sit down blamed or exhausted.” (17:29/30)
Islam teaches honesty and equity in handling financial matters.
“And give to the orphans their property and exchange not the bad for the good, and devour not their property with your own. Surely, it is a great sin. … And give the women their dowries willingly. But if they, of their own pleasure, remit to you a part thereof, then enjoy it as something pleasant and wholesome. And give not to the foolish your property which Allah has made for you a means of support; but feed them therewith and clothe them and speak to them words of kind advice. And prove the orphans until they attain the age of marriage; then, if you find in them sound judgment, deliver to them their property; and devour it not in extravagance and haste against their growing up. And whoso is rich, let him abstain; and whoso is poor, let him eat thereof with equity. And when you deliver to them their property, then call witnesses in their presence. And Allah is sufficient as a Reckoner.” (4:2/3-6/7)
Inheritance is distributed among extended family and even beyond to encourage distribution of resources widely.
“And when other relations and orphans and the poor are present at the division of heritage, give them something therefrom and speak to them words of kindness.” (4:8/9)