Squanders food (8)
I believe the answer is:
fritters
I believe this is a double definition.
'squanders' is the first definition.
(frittering is a kind of squandering)
'food' is the second definition.
(I've seen this before)
(Other definitions for fritters that I've seen before include "Squanders the fruit fried in batter" , "battered apples, for instance" , "food" , "Wastes" .)