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ex·trav·a·gance Listen to audio/ɪkˈstrævɪgəns/ noun
plural ex·trav·a·ganc·es
1 [noncount] : the act or practice of spending a lot of money : wasteful or careless spending
The reorganization of the department was aimed at reducing extravagance. his extravagance with money
2 [count] : a special purchase that costs more than you usually spend
That coat is an extravagance that you can't afford. Going to the play will be our one extravagance for this vacation.
3 [noncount] : the quality of something that is very expensive or fancy : an extravagant quality
I was shocked by the extravagance of their lifestyle. The church is known for the extravagance of its architecture.

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