Meaning of the word "Splash out on" in English

What does "Splash out on" mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

Splash out on

US /splæʃ aʊt ɑn/
UK /splæʃ aʊt ɒn/

Phrasal Verb

to spend a lot of money on something, especially something luxurious or non-essential

Example:
They decided to splash out on a new car after getting a bonus.
I'm going to splash out on a fancy dinner tonight.