There are several synonyms for the phrase "spend foolishly" that convey the same sense of recklessness and imprudence. One common term is "blow money," which suggests a lack of restraint and an urge to spend quickly and without much thought. Another option is "waste cash," which emphasizes the sense of futility and regret that often comes after an irresponsible shopping spree. "Bleed funds" is a more dramatic choice that implies a draining of resources or a financial ruin. Finally, "squander wealth" connotes a sense of excess or abundance that is being carelessly spent without regard for future consequences.