Deeply in debt but ostentatious.

Spending your money unwisely on things you dont need that wont last you that long

Means spending all the money you have as fast as possible just because you have it. say, if you won the lottery and you went out and just bought anything and everything and didnt need any of it, but bought it just because you "could".

showing up to school in a louis vuitton backpack and baby phat coat and going home to a shack in detroit.

(adj.) a derogatory term used to refer to a selfishly extravagant person who has no prospects of ever paying off the debts they incur. (Esp. someone whose sole purchasing power comes from disreputable credit cards or drugs.)

adj. - someone who spends all of their current monies on goods and/or services, with no thought of future income -

having a fat wallet but all the bills are ones