What is the ruling on spending money extravagantly?

Question 1: I am a well-to-do person and I have earned all my wealth from Halaal (lawful) sources. I perform all my duties towards my relatives and the poor. I am trying not to fall short in that matter. Thanks to Allaah (Exalted be He), I have built a house and equipped it with luxurious and expensive furniture brought from abroad. However, I am at a loss, because I do not know whether what I have done makes me one of those about whom Allaah (Exalted be He) says: “And turn not your face away from men with pride, nor walk in insolence through the earth. Verily, Allaah likes not any arrogant boaster. But spend not wastefully (your wealth) in the manner of a spendthrift.

Answer: Spending money extravagantly may be Haraam (prohibited) or Makrooh (disliked). The prohibition of squandering is emphasized in the following Aayah (Qur’aanic verse) in which Allaah (Exalted be He) says… read more here.