No money around the middle of July for luxury (8)
I believe the answer is:
opulence
'for luxury' is the definition.
(synonyms)
'no money around the middle of july' is the wordplay.
'no' becomes 'O' (O resembles 0).
'money' becomes 'pence' (I've seen this before).
'around' is an insertion indicator.
'the middle of' indicates the central letters.
The central letters of 'july' are 'ul'.
'pence' going around 'ul' is 'pulence'.
'o'+'pulence'='OPULENCE'
(Other definitions for opulence that I've seen before include "Luxury, sumptuousness" , "State of wealth and prosperity" , "Fortune" , "Ostentatious wealth" , "Plenty" .)