What do we know about men who spend lots of money?
They’re probably focused on sex. Degree of spending is connected to mating intentions and mating success:
Cross-culturally, male economic power is directly related to reproductive success. Displays of wealth and social status are an important part of human male mating effort. The degree of male financial consumption may be related to variance in life history strategies, as differences in life history patterns are fundamentally differences in the allocation of effort and/or resources. Males who have higher mating intentions may maximize their economic displays, saving little and even spending beyond their capacity through the use of credit. These men may seek and possibly obtain a greater number of sexual partners. This hypothesis was tested in a randomly selected community sample of men aged 18-45 included in a telephone health interview. The degree of financial consumption was directly related to future mating intentions and past mating success, even when accounting for age, years of education completed, and marital status. The degree of financial consumption was not related to future mating intentions or past mating success for women in the same sample.
Source: “Male Financial Consumption is Associated with Higher Mating Intentions and Mating Success” from Evolutionary Psychology 2008. 6(4): 603-612