Explanation

The text tells you that the man is anxious to avoid a label, so his actions must contrast with the label he is trying to avoid. He wants to present a frugal picture, so he must be saving money.

Therefore, the missing word must mean something like reckless spender. Choices (C) and (E) could be attractive if you miss the contrast between the clue and the blank; these words mean stingy person and are opposite of what you need. Choices (D) and (F) are synonyms, but there aren’t any clues in the sentence that indicate the man is seeking pleasure. That leaves choices (A) and (B), both of which mean wasteful spender and make them the best answers.

Hence options A and B is correct!