Fritter
[n] small quantity of fried batter containing fruit or meat or vegetables
[v] spend frivolously and unwisely; "Fritter away one's inheritance"
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apple fritter, beignet, beignet aux pommes, bismarck, blow, cast away, consume, cruller, dissipate, doughnut, fastnacht, fool away, friedcake, fritter away, idle away, misspend, olykoek, raised doughnut, sinker, squander, throw away, twister, waste