Golf club shortly out of money (5)
I believe the answer is:
spoon
'golf club' is the definition.
(historical type of golf club)
'shortly out of money' is the wordplay.
'shortly' becomes 'soon' (synonyms).
'out of' indicates putting letters inside (some letters on the outside of others).
'money' becomes 'p'.
'soon' placed around 'p' is 'SPOON'.
(Other definitions for spoon that I've seen before include "may create a stir" , "A runcible item of cutlery?" , "Canoodle" , "'He that sups with the devil should have a long . . . . .'" , "Eating implement" .)