The Collaborative International Dictionary of English v.0.48:

Prodigality \Prod`i*gal"i*ty\, n. [F. prodigalit['e], L.
   prodigalitas. See Prodigal.]
   Extravagance in expenditure, particularly of money; excessive
   liberality; profusion; waste; -- opposed to frugality,
   economy, and parsimony."The prodigality of his wit."
   --Dryden.
   [1913 Webster]

WordNet (r) 3.0 (2006):

prodigality
    n 1: the trait of spending extravagantly [syn: extravagance,
         prodigality, profligacy]
    2: excessive spending [syn: extravagance, prodigality,
       lavishness, highlife, high life]