Crossword Genius

Spend lots of money installing switch in jet (6,3)

Ross

I believe the answer is:

splash out

I'm a little stuck... Click here to teach me more about this clue!

'spend lots' is the definition.
I can't tell whether this definition defines the answer.

'money installing switch in jet' is the wordplay.
'money' becomes 'l' (L can mean 'pounds').
'installing switch' becomes 'ash' (I can't explain this - if you can you should give a lot more credence to this answer).
'in' is an insertion indicator.
'jet' becomes 'spout' (I have seen 'Jet of liquid' mean 'spout' so perhaps 'jet' could also mean 'spout').
'l'+'ash'='lash'
'lash' put within 'spout' is 'SPLASH OUT'.

'of' acts as a link.

Can you help me to learn more?

(Other definitions for splash out that I've seen before include "Spend money freely" , "Spend a lot of money" , "Blow brass" , "extravagant" .)

I've seen this clue in The Telegraph.
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