Narrated Abdullah ibn Amr ibn al-'As may Allah be pleased with them: 

The Messenger of Allah, may the peace and blessings of Allah be upon him, preached and said: Abstain from avarice, for those who were before you were ruined due to avarice. It (avarice) commanded them to show niggardliness so they did; it commanded them to cut off their relationship with their nearest relatives, so they cut off. It commanded them to show profligacy, so they showed it.

The Prophet, may the peace and blessings of Allah be upon him, warns us against avarice and shows us its bad consequences. He says: "abstain from avarice" ie, beware and save yourselves from it. Do not respond to it if it calls you to abstain from spending the money in your hands or to seek what is in the hands of the others, or to cut off the bonds of kinship and friendship among you, or to give up your religious and worldly duties; avarice is a grave disease that is accompanied by loss in this world and in the Hereafter

 This means that he who is not protected from the stinginess of his soul is surely from the losers.