Definition & Meaning of "[have] money to burn"

What is the origin of the idiom "have money to burn" and when to use it?

The idiom "have money to burn" likely originates from the notion of having an abundance of money that one can afford to waste or spend extravagantly, even to the point of burning it for amusement or display. This phrase is used to describe someone who possesses a significant amount of disposable income or wealth that they can spend freely and extravagantly without concern for financial consequences.