From Sahih Muslim (Hadith 2388):
Abu Umama reported Allah's Messenger (ﷺ) as saying:O son of Adam, it is better for you if you spend your surplus (wealth), but if you withhold it, it is evil for you. There is (however) no reproach for you (if you withhold means necessary) for a living. And begin (charity) with your dependents; and the upper hand is better than the lower hand
Reference: Muslim 2388