To squander something is to waste it carelessly, in a way that other people think is foolish — money, time, a chance, talent, even goodwill. The word does not just mean 'spend' or 'lose'; it means you had something valuable, you let it go for nothing, and it is gone. That is why it stings. It is a transitive verb, so it always needs an object: you squander money, you squander an opportunity. With money it suggests spending on nothing worthwhile, often bit by bit until it is finished — 'he squandered his inheritance'. With chances it is the more common use today, especially in sport and politics: 'the team squandered a two-goal lead', 'the government squandered the public's trust'. There is nearly always a note of blame in it. You would not say you squandered your money on a house; you squander it on things that leave nothing behind. Note also 'squander away', which some speakers use for emphasis, though plain squander is the safer choice.