The most common and most likely answer to this crossword clue is the 12 letter word EXTRAVAGANCE
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Buddy explains!
The straight part
We know that "spending too much" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case spending too much = extravagance.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does EXTRAVAGANCE mean?
EXTRAVAGANCE noun- Excessive or superfluous expenditure of money.
- Prodigality, as of anger, love, expression, imagination, or demands.