The Iron Cloak (Hadith No. 1222)
Narrated Abu Huraira (radiallaahu `anhu):
The Prophet (sallallaahu `alayhi wasallam) said, “The example of a miser and an alms-giver is like the example of two persons wearing iron cloaks.” Allah’s Apostle (sallallaahu `alayhi wasallam) also said, “The example of an alms-giver and a miser is like the example of two persons who have two iron cloaks on them from their breasts to their collar bones, and when the alms-giver wants to give in charity, the cloak becomes capacious till it covers his whole body to such an extent that it hides his fingertips and covers his footprints (obliterates his tracks). And when the miser wants to spend, it (the iron cloak) sticks and every ring gets stuck to its place and he tries to widen it, but it did not become wide.
May Allah make me understand the meaning of this example in depth. But the basic implication is that the generous person, when he spends, gets barakah in his wealth and reward. Even a little suffices him. And he spends even more in Allah’s way. As for the miser, his wealth only gets lesser and lesser, so even when he wants to spend, he can’t really find the means to do it. There’s no barakah in his wealth. Even a lot isn’t sufficient for him.