What is "to fritter away"

Fritter \Frit"ter\, v. t. [imp. & p. p. Frittered; p. pr. & vb. n. Frittering.]

1. To cut, as meat, into small pieces, for frying.

2. To break into small pieces or fragments.

   Break all nerves, and fritter all their sense.
   --Pope.

   To fritter away, to diminish; to pare off; to reduce to nothing by taking away a little at a time; also, to waste piecemeal; as, to fritter away time, strength, credit, etc.