What is the meaning of Surah Bani-Israel ayat 26?

Question

What is the entire meaning of this ayat?

Surah Bani-Israel(Al Isra17)

Ayah: 26
"Arabic: وَآتِ ذَا الْقُرْبَى حَقَّهُ وَالْمِسْكِينَ وَابْنَ السَّبِيلِ وَلاَ تُبَذِّرْ تَبْذِيرًا Pickthal: Give the kinsman his due, and the needy, and the wayfarer, and squander not (thy wealth) in wantonness. Shakir: And give to the near of kin his due and (to) the needy and the wayfarer, and do not squander wastefully. Yusuf Ali: And render to the kindred their due rights, as (also) to those in want, and to the wayfarer: But squander not (your wealth) in the mannerof a spendthrift."

Ref:http://www.itsislam.net/quran/surah.asp?sid=17

I'd like to know that what is meant by "..and do not squander wastefully." Did it exactly mean not to waste money here and there/ meaninglessly or did it mean that we should be conscious about how much we are giving money in charity or in others help, so that we don't give more than our limit that should be given in..

Answer 1

بَذّرَ means “to waste, to squander”. تَبْذِير is the infinitive (masdar) of the same verb. In Arabic it is very common to use a verb plus its own infinitive to express an intensified action. In English you cannot really say “squander squandering”; that is why the translators need to paraphrase it as "squander wastefully" or the like.

Answer 2

Did it exactly mean not to waste money here and there/ meaninglessly

Yes

did it mean that we should be conscious about how much we are giving money in charity or in others help, so that we don't give more than our limit that should be given in..

NO

The reason is Prophet Muhammad(peace be upon him) said it was a must to give Zakat(compulsory charity) by everyone who is able to give, and allowed that we can give more than that, and there is no problem in that.

May the creator guide us all.