Allah enjoins moderation in spending condemning miserliness and forbidding overspending!

Verses 29-30 of Chapter 17:

And let not your hand be tied (like a miser) to your neck, nor overextend it (like a spendthrift), so that you become blameworthy and in severe poverty. Truly, your Lord expands the provision for whom He wills and straitens (for whom He wills). Verily, He is Ever All-Knower, All-Seer of His servants.