spending much more than is necessary or wise; wasteful: an extravagant shopper.
excessively high: extravagant expenses; extravagant prices.
exceeding the bounds of reason, as actions, demands, opinions, or passions.
going beyond what is deserved or justifiable: extravagant praise.
Obsolete. wandering beyond bounds.

1350–1400; Middle English < Medieval Latin extrāvagant- (stem of extrāvagāns), present participle of extrāvagārī, equivalent to extrā- extra- + vagārī to wander

extravagantly, adverb
extravagantness, noun
overextravagant, adjective
overextravagantly, adverb
unextravagant, adjective
unextravagantly, adverb

1. imprudent, spendthrift, prodigal. 2. immoderate, excessive, inordinate. 3. unreasonable, unrestrained, fantastic, wild, absurd, preposterous.

1. prudent, thrifty. 2. moderate. 3. reasonable.
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Based on the Random House Dictionary, © Random House, Inc. 2014.
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World English Dictionary
extravagant (ɪkˈstrævəɡənt)
1.  spending money excessively or immoderately
2.  going beyond usual bounds; unrestrained: extravagant praise
3.  ostentatious; showy
4.  exorbitant in price; overpriced
[C14: from Medieval Latin extravagāns, from Latin extra- + vagārī to wander]

Collins English Dictionary - Complete & Unabridged 10th Edition
2009 © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
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Word Origin & History

late 14c., from M.L. extravagantem, originally a word in Canon Law for uncodified papal decrees, prp. of extravagari "wander outside or beyond," from L. extra "outside of" + vagari "wander, roam." Extended sense of "excessive, extreme" first recorded 1590s; that of "wasteful, lavish" 1711. Related: Extravagantly.
Online Etymology Dictionary, © 2010 Douglas Harper
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Example sentences
But on the couple's wedding day, which opens the book, the extravagant nuptials
  are suddenly canceled.
Football coaches do not have extravagant golden parachutes; their performance
  evaluations are very public.
Sinatra is an extravagant man, but friends sometimes find his generosity
If you're feeling more extravagant, corn bread is also good with chicken soup.
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