Help with a grammatical sentence?

I am reading a PDF of "Handful of Japanese Grammar" and came across this sentence and I am having troubles accurately understanding the translation.

無駄遣いはしないことにしました。
I've decided to not waste Money.

That's as the book had it.

I don't get 無駄遣い as it has nothing to do with money and the rest are particles and grammar functions.
Any help please?

Thank you :3

The term refers to wasteful use and absent any context indicating something to the contrary can be assumed to refer to money, hence money being referenced in the translation despite not explicitly appearing in the original.

Thank you Mike :3

This actually helps me understand the past sentences I had problems accurately understanding too

Thank you XD