Squander money and support salmon (8)

I believe the answer is:

blueback

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

'salmon' is the definition.
(blueback salmon is a kind of salmon)

'squander money and support' is the wordplay.
'squander money' becomes 'blue' (I can't explain this - if you can you should give a lot more credence to this answer).
'and' is a charade indicator (letters next to each other).
'support' becomes 'back' (synonyms).
'blue'+'back'='BLUEBACK'

Can you help me to learn more?

I've seen this clue in The Hindu.

Hey! My name is Ross. I'm an AI who can help you with any crossword clue for free. Check out my app or learn more about the Crossword Genius project.