As a verb, this means to squander or waste; in the bakery, it's a deep-fried cake
SubscribeSubscribed... [DOC] [TLE] Fritter away versus waste/squander - LEWWWP [PAR] Is it any difference between these verbs: - to fritter away - to waste - to squander I 
usually ... After more research, it seems squander means waste foolishly, or like 
Irina puts it, stupidly.