small quantity of fried batter containing fruit or meat or vegetables
A dish made by deep-frying food coated in batter.
spend frivolously and unwisely
"Fritter away one's inheritance"
To squander or waste time, money, or other resources; e.g. occupy oneself idly or without clear purpose, to tinker with an unimportant part of a project, to dally, sometimes as a form of procrastination.