Merriam-Webster's Learner's DictionaryHow do the sentences below sound to you?
[+ obj] : to use (something) in a foolish or wasteful way
▪ She squandered her inheritance/allowance. ▪ He vowed not to squander this opportunity. ▪ The government squandered [=wasted] the money on failed programs.
▪ She wasted her inheritance/allowance. ▪ He vowed not to waste this opportunity.
They sound OK but less colourful or emphatic than the squander versions.
It's because waste is a much commoner word with wider applications.