fritter away

verb

To spend (money) excessively and usually foolishly: consume, dissipate, fool away, riot away, squander, throw away, trifle away, waste. Slang blow¹. See save/waste.

Squander or waste little by little; wear down gradually. For example, She frittered away her salary on odds and ends and saved nothing. This expression was first recorded in Alexander Pope's Dunciad (1728): "How prologues into prefaces decay, And these to notes are fritter'd quite away."

The verb has one meaning:

Meaning #1: spend frivolously and unwisely
  Synonyms: fritter, frivol away, dissipate, shoot, fool, fool away