What does the term "prodigal" imply about a person's spending habits?

The term "prodigal" specifically refers to someone who spends money in a reckless and extravagant manner, often leading to wastefulness. This association with squandering resources is rooted in the biblical parable of the Prodigal Son, which illustrates a young man's return after he had wasted his inheritance on lavish living. Thus, when describing a person's spending habits, "prodigal" indicates a lack of financial prudence and a tendency to be extravagant to the point of irresponsibility. Therefore, the implication of wastefulness is the defining characteristic of the term in this context, making it the most accurate choice.