Poet who’s extravagant? (7)
I believe the answer is:
spender
'poet' is the definition.
(Stephen Spender)
I cannot understand how the rest of the clue works.
Can you help me to learn more?
(Other definitions for spender that I've seen before include "One using money" , "patronising retailers, perhaps?" , "One paying out money" , "writer of poetry" , "Sir Stephen -, English twentieth century poet" .)