Etymology
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misspend (v.)

also mis-spend, "to spend amiss or wastefully, use improperly, make a bad or useless expenditure of," late 14c.; see mis- (1) + spend. Related: Misspent (as an adjective, "badly or uselessly employed," since mid-15c. frequently modifying youth); misspending.

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Definitions of misspend

misspend (v.)
spend time badly or unwisely;
He misspent his youth
misspend (v.)
spend (money or other resources) unwisely;
From wordnet.princeton.edu