Wiktionary
vb. (context idiomatic English) To spend money foolishly or indiscriminately; to waste money without regard of the consequences.
Usage examples of "throw money away".
Folks up here also can't throw money away for a collection of knives.
After all, I had invested five ill-gotten cents in this adventure, and I was in no position to throw money away.
I considered the remarkable Mr Tighe all the way to Canterbury, too, and concluded that if he was fool enough to throw money away, that was his business-what kind of odds could he hope to get on my losing my wicket, for after all, I batted well down the list, and might easily carry my bat through the hand?
Of course it's criminal to throw money away like that, but he's so bloody rich he doesn't care.
I wasn't doing it all primarily for money, you understand, but my family was growing and I wasn't going to throw money away, either.