to spend one's savings in order to cover living expenses
dissave in American English
(dɪsˈseiv)
intransitive verbWord forms: -saved, -saving
1.
to withdraw or spend savings, esp. to meet increased living expenses
2.
to save little or nothing or to go into debt, esp. because of increased spending or inflation
Derived forms
dissaver
noun
Word origin
[1935–40; dis-1 + save1]This word is first recorded in the period 1935–40. Other words that entered Englishat around the same time include: complementation, fluorocarbon, prime mover, roomette, unit trust