My Mother in Law said," Every time you buy one new thing for yourself, try to give away one of your belongings in charity, anything that someone else might need a lot more than you do, but it should be in good condition" (My wife try her best to follow this advice just as a gesture of thankfulness to Allah (swt) for blessing her with the resources to be able to buy new clothes ,shoes etc. which most people can’t buy.
Once a rich man was asked the reason of spending very less on himself but too much on people related to him and needy people, he replied, “Every time I started to spend more on myself, my heart started to prevent me from spending on others”
Another person replied, “The best saving is to keep some of your money in your account with Allah (swt) by giving it to poor people. Because Allah (swt) never betrays you, but returns it to you many times more, not only in this world but also in the life hereafter, with more interest than anyone can imagine”
There are many hadiths on how giving in the way of Allah (swt) prevents disasters from happening in a person’s life.