Profligacy (noun)

The act or condition of being recklessly extravagant and wasteful with resources, especially money.

Origin:

Derived from the late latin word 'profligatia', which means 'ruin, destruction'.

Examples:

1. The city's profligacy led to a financial crisis and high levels of debt.
2. Her profligacy was only matched by her ignorance of the family's financial situation.
3. The profligacy of the royal court was a source of constant criticism from the public.
4. His profligacy was the main reason for his downfall and eventual bankruptcy.
5. The company's profligacy in spending on unnecessary projects was seen as a major factor in its decline.