وَيَوْمَ يُعْرَضُ ٱلَّذِينَ كَفَرُوا۟ عَلَى ٱلنَّارِ أَذْهَبْتُمْ طَيِّبَـٰتِكُمْ فِى حَيَاتِكُمُ ٱلدُّنْيَا وَٱسْتَمْتَعْتُم بِهَا فَٱلْيَوْمَ تُجْزَوْنَ عَذَابَ ٱلْهُونِ بِمَا كُنتُمْ تَسْتَكْبِرُونَ فِى ٱلْأَرْضِ بِغَيْرِ ٱلْحَقِّ وَبِمَا كُنتُمْ تَفْسُقُونَ Qur’an Al-Ahqaf (46:20)Wayawma yuAAradu allatheena kafaroo AAala alnnari athhabtum tayyibatikum fee hayatikumu alddunya waistamtaAAtum biha faalyawma tujzawna AAathaba alhooni bima kuntum tastakbiroona fee alardi bighayri alhaqqi wabima kuntum tafsuqoona
I.e., for having arrogantly, without any objective justification, asserted that there is no life after death.
"Squandered your good things" implies (in Arabic) grabbing at them, being greedy of them, seeking them as fleeting pleasures rather than the more serious things of life, sacrificing the spiritual for the material.
They will be told: 'You took your choice, and you must pay the price. You did wrong in a rebellious spirit, and prided yourselves on your wrong-doing, not occasionally, but of set purpose and constantly. Now you will be humbled in the dust, as a fitting punishment.'