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First, let's briefly discuss what extravaganza is all about from a subjective and objective point of view. Being extravagant is when someone engages in an Excessive or superfluous expenditure of money. Sometimes we see some people spend a lot of resources on a particular purchase and you wonder if it was all that necessary to begin with. For instance, there are several examples of extravagant spending which can include an individual purchasing a brand new private jet, that has luxury features, expensive interior and exterior decor like gold plated fixtures, personal cinema onboard and other unnecessary stuffs that simply denotes that this was not born out of the mindset to perform a task of conveying people from one place to another but simply a selfish desire for opulence and show off of wealth.
Of course, it is okay to show off the wealth you have worked so hard for buy other times, some kind of purchase make you think that, the rich thoroughly has no need for money. Especially government officials who acquires more than enough properties than normal, in Nigeria, there are lots of expensive houses in expensive areas like Lagos, abuja and so on that has be left unattended, this is so because these people pay huge some of money to acquire the more than 5 to 10 houses and end up not doing anything with them because apparently, they cannot live in more than one at a time. They extort the masses and taxpayers money only to enrich themselves at the detriment of others. One that is also common amongst government officials in the area of extravagant spending is Expensive and unnecessary travel arrangements they make for themselves and their aides, these people are always taking first-class or business class flights and occupy only luxury accommodations. One time they went for a summit that should have been attended to via zoom, they preferred to travel all the way, spending more than bargained for.
Extravaganza could bring about the Risk of Overspending. Be careful to note this is entirely different from impulse buying or mere purchase of expensive items, this is about overspending on elaborate decorations,entertainment, and amenities, which may not align with the event's intended purpose or budget. On the issue of 3lqborate spending on decorations like weddings, extravagant conferences, there was a time I was acquainted with an event planner back then, she got the job of planning a wealthy man's daughters wedding and to make sure all was in place for the big day. That was not the issue but the major issue was when the girl, that is the bride requested for an ice sculpture to be made abroad and imported into the hot city of Lagos Nigeria. It sounded so ridiculous because it was expensive to do ice sculpture, another expenses for workmanship, another for bringing it down to Nigeria and all. The fact is that, Nigeria is a relatively hot country and ice sculpture would not last.
Sometimes when you calculate what people spend extravagantly on material things, a proper budget estimate of that same money can be used to acquired a comfortable taste and the rest can be used for charity or for a better cause.
This is just my though on why I think extravagant spending can be wasteful, if you have other opinions let me know in the comment section.
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