squander

He managed to squander his entire inheritance on expensive cars and parties.

(Chinese) 他竟然挥霍掉了全部遗产去买豪车和办聚会。

Don't squander this opportunity to study abroad; it's a chance of a lifetime.

(Chinese) 不要浪费这次出国留学的机会，这是终生难逢的机会。