Be generous & merciful towards others; Be mindful of your spending habits; Help those in need financially when possible .

This hadith explains that the Prophet Muhammad exempted his followers from having to pay a religious tax called zakat on horses and slaves. Additionally, he also stated that there is no zakat required for any amount of money less than two hundred dirhams. This hadith teaches us the importance of being generous and merciful towards others by exempting them from paying taxes when possible. It also encourages us to be mindful of our spending habits as we should not spend more than two hundred dirhams without considering the religious implications of doing so. Furthermore, this hadith reminds us that we should always strive to help those in need by providing them with financial assistance whenever possible.