Extravagance

Part of speech: noun

Pronunciation: /ɪkˈstɹævəɡən(t)s/

Definitions

1. The quality of being excessively lavish manifests in both extravagant spending and indulgent lifestyles that forsake moderation and reason
2. A state where excessive and unnecessary consumption prevails, often characterized by a disregard for fiscal responsibility and moderation in various life choices
3. The trait of being overly showy or lavish often leads to spending that exceeds practical limits and reflects a lifestyle lacking in moderation and practicality

Etymology: The original sense of this word was literal wandering. It comes from Medieval Latin "extravagari," built from "extra," meaning "outside," and "vagari," meaning "to wander." Something extravagant was, quite literally, something that strayed beyond its proper bounds, like a stray animal leaving its pasture or a thought drifting away from its subject. English borrowed the noun from French, where "extravagance" carried the same sense of going beyond the usual limits. The move from wandering to excess is a short step: a person who strays beyond reasonable limits is wandering from what is sensible, and spending that runs past what is prudent is one of the most obvious ways to do so. The financial sense that dominates today is therefore the later, narrower development of a much broader idea of departing from the expected.

Synonyms: luxury, lavishness, prodigality

Antonyms: frugality, simplicity