In this regard there is a narration wherein Nabi (Sallallahu Alaihi Wasallam) is reported to have said; “One who generously spends on his family on the 10th of Muharram (day of Ashura), Allah will be generous on him for the entire year.” (Tabarani and Al-Bayhaqi)
It is understood from this hadith that spending on and being generous to one’s family and dependents is commendable on this day.
Sufyan ibn Uyayna (R) said, “I have practiced this (spending on the family) for fifty or sixty years, and have found nothing but good in it.” (Lata’if al-Ma’arif)
Accordingly, one should preferably spend more than normal by providing additional food and other items on this day as compared to other days. Feeding family, friends and the needy will be regarded as rewarding and a means of earning blessings and barakah on this great day.
However, this practice should not be regarded as compulsory. If one is unable to practice upon this, one will not be sinful or accountable. At the same time, we should avoid being boastful, extravagant or going beyond one’s means to achieve this.