Mis·spend v. t. [imp. & p. p. Misspent p. pr. & vb. n. Misspending.] To spend amiss or for wrong purposes; to squander; to waste; as, to misspend time or money.
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  Mis·spent imp. & p. p. of Misspend.
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  misspend
       v 1: spend time badly or unwisely; "He misspent his youth"
       2: spend (money or other resources) unwisely
       [also: misspent]