verb (used with object)
to spend or use (money, time, etc.) extravagantly or wastefully (often followed by away ).
to scatter.
extravagant or wasteful expenditure.

1585–95; origin uncertain

squanderer, noun
squanderingly, adverb
resquander, verb (used with object)
unsquandered, adjective

1. waste, dissipate, lavish. See spend.

1. save.
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Based on the Random House Dictionary, © Random House, Inc. 2014.
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World English Dictionary
squander (ˈskwɒndə)
1.  to spend wastefully or extravagantly; dissipate
2.  an obsolete word for scatter
3.  rare extravagance or dissipation
[C16: of unknown origin]

Collins English Dictionary - Complete & Unabridged 10th Edition
2009 © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009
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Word Origin & History

1589 (implied in squandering), "to spend recklessly or prodigiously," of unknown origin; Shakespeare used it 1593 in "Merchant of Venice" with a sense of "to be scattered over a wide area." Squander-bug, a British symbol of reckless extravagance and waste during war-time shortages, represented as a devilish
insect, was introduced Jan. 1943 by the National Savings Committee. In U.S., Louis Ludlow coined squanderlust (1935) for the tendency of government bureaucracies to spend much money.
Online Etymology Dictionary, © 2010 Douglas Harper
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Example sentences
They are in a position to do so much for so many and much of it is squandered
  in vanity construction and self-serving projects.
As time goes by, my squandered undergraduate education stands as one of my
  bigger life regrets.
They have dissipated their patrimonies, they have squandered their fortunes.
His painful toil had been wasted, his curious ingenuity had been squandered to
  no purpose.
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