The word 'extravagant' is an adjective and it describes a human trait in which the person is spending a lot of money or using a lot of something that he is not able to afford or even if he can afford it is unnecessary. You can better understand the word when it is used in the following context: A dress for a kid at the cost of £400 is really an extravagant spending.
Sometimes the word can be used in other contexts also like you can use it for a speech, behaviour or an idea which sounds very impressive but has no practical value. The following sentence can better describe the context: The extravagant claim of politicians. The synonym of the word in this context is exaggerated.
Sometimes the word can be used in other contexts also like you can use it for a speech, behaviour or an idea which sounds very impressive but has no practical value. The following sentence can better describe the context: The extravagant claim of politicians. The synonym of the word in this context is exaggerated.