Spending in the way of Allah means to part with what we posess and call it as ours. It means to give it out willingly for any cause which is for the benefit for Allah's creation, for the pleasure of Allah. It is a great virtue and I will elaborate its meaning and significance.
You can imagine the significance of it by Surah 2 Al-Baqarah, ayah 261:
"The likeness of those who spend their wealth in the way of Allah is as the likeness of a grain which grows seven ears, in every ear a hundred grains. Allah increases manifold to whom He wills."
Whenever you are spending in the way of Allah, you should be generous or else you are depriving yourselves of the benefits.
In this regard, Allah says in Surah 47 Muhammad ayah 38:
Beware! you are called to spend in the way of Allah, yet some among you hoard. But he who hoards does so for himself: Allah is above need, and it is you who are the needy. If you turn away, then Allah will bring other people in your place who will not be like you.
We should spend our money, time, effort, our energy, and our knowledge in the way of Allah so that it will give us happiness and we'll be rewarded. There is a great sense of joy and satisfaction when we do something by ourselves to share with others physically, mentally, morally, and financially.
Spending in the way of Allah is a trade, a bargain and a business with Allah. It sounds strange, doesn't it? And you may ask how can one make a trade with Allah. Listen to this:
Surah 35 Al-Faatir ayah 29 reveals:
"Those who read the Book of Allah, establish regular prayer, and spend in the way of Allah secretly and openly out of what we have provided for them. They hope for a commerce that will never fail."
If we like to be called: Ya ayyuhallazeena aamanu O' You who believe, then we have to behave and act like those who believe. Iman is not a lip-service and it cannot be that at all. Iman is a deep faith, a firm commitment and a pledge of being obedient to Allah (S.W.T.) in every aspect of our lives.
Everywhere we read in the Qur'an, we find that Allah is enticing, encouraging and requesting people in a very nice way to give loans to Him. When we are asked to spend in the way of Allah, He asks us to give a loan to Him. This word of a Loan to Allah has been mentioned in the Qur'an six times in diffrent forms.
Surah 57 Al- Hadiid ayah 18 reveals:
"Lo! Those who give alms, both men and women, and lend to Allah a goodly loan, it will be doubled for them, and theirs will be a rich reward."
This goodly loan should be for the love of Allah and not as a favor, as a generosity or as a benevolence. If you spend in the way of Allah, do it for the love of Allah. If you do it, then and only then Allah will reward you. The reward is a many-fold. Some of the rewards promised by Allah are related to this world and the others are related to the hereafter. Some of the worldly and heavenly rewards are the following:
1)The amount of charity given as a loan is doubled and multiplied.
2)Forgiveness of sins will be granted by Allah.
3)Rich and liberal reward will be given by Allah.
4)Entrance to paradise will be granted by Allah.
5)In heaven, there are rivers running beneath, for those who give the loans.
6)Allah is thankful to the person giving the loan.
According to the Qur'an, this is the ultimate success that one may hope to acheive in this world and in the hereafter.
Allah is not in need of your help, your support and your financial aid. Allah does not need these loans for Himself but for his creations in the world.
In the end I humbly make dua: O Allah! grant us the love to give. O Allah we are misers: So help us to be generous. O Allah you are to be called upon, and we are calling upon you. O Allah listen to and answer our call. We hope and pray that everyone of us discharges the responsibility put on our shoulders. We hope and pray that may Allah make our vision a reality, accept our humble efforts, and may He also guide us and keep us on the straight path. Aameen! Wassalamualaikum Warahmatullahi Wabarakatuh