noun
extravagance
ik-STRAV-uh-guns/ɪkˈstrævəɡəns/
Spending or indulgence beyond what is reasonable or necessary.
Their taste for extravagance leaves little money for basic needs.

Etymology
Wandering outside the usual course became a way to describe exceeding reasonable limits. Extravagance applies that excess to conduct, especially lavish or wasteful spending.
In context
he acquires habits of extravagance instead of economy habits of wasting his resources physical IAL mental moral and spiritual instead of conserving them
More examples
- Fresh flowers every week are her one extravagance.
- We cut back on extravagances to pay off our debt.
- The wedding's extravagance shocks even their wealthy friends.
Forms
extravagance · extravagances
extravagant adjective — Spending or indulging beyond reasonable limits.
extravagantly adverb — In a wastefully excessive or luxurious way.
Similar words
- wastefulness
- Emphasizes using resources carelessly rather than enjoying excessive luxury.
- lavishness
- Emphasizes generous luxury, without necessarily suggesting waste or excess.
- indulgence
- Focuses on satisfying desires, which need not involve overspending.