extravagant lifestyles

  1. He has to spend a lot of money for living very extravagant lifestyles.
  2. Government should take initiative to solve the state financial crisis.
    Please correct all.
    Thanks.

For me, ‘for living’ is awkward there too. I would suggest:
He has to spend a lot of money to maintain his very extravagant lifestyle.

(The) Government should take the initiative to solve the state’s financial crisis.