1828, "ostentatious display," perhaps a blend of splash and surge. The meaning "extravagant indulgence in spending" is first recorded 1928. The verb, in this sense, is attested from 1934.
in. to indulge oneself with much spending or eating. : I have to splurge every now and then. I deserve it.
Dictionary of American Slang and Colloquial Expressions by Richard A. Spears.Fourth Edition. Copyright 2007. Published by McGraw Hill.
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