Source : Webster's Revised Unabridged Dictionary (1913)

Squander \Squan"der\, v. t. [imp. & p. p. {Squandered}; p. pr. &
   vb. n. {Squandering}.] [Cf. Scot. squatter to splash water
   about, to scatter, to squander, Prov. E. swatter, Dan.
   sqvatte, Sw. sqv["a]tta to squirt, sqv["a]ttra to squander,
   Icel. skvetta to squirt out, to throw out water.]
   1. To scatter; to disperse. [Obs.]

            Our squandered troops he rallies.     --Dryden.

   2. To spend lavishly or profusely; to spend prodigally or
      wastefully; to use without economy or judgment; to
      dissipate; as, to squander an estate.

            The crime of squandering health is equal to the
            folly.                                --Rambler.

   Syn: To spend; expend; waste; scatter; dissipate.

Source : WordNet®

squandering
     n : spending resources lavishly and wastefully; "more wasteful
         than the squandering of time"