The Collaborative International Dictionary of English v.0.48:

Fritter \Frit"ter\, v. t. [imp. & p. p. Frittered; p. pr. &
   vb. n. Frittering.]
   1. To cut, as meat, into small pieces, for frying.
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   2. To break into small pieces or fragments.
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            Break all nerves, and fritter all their sense.
                                                  --Pope.
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   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.
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