Cryptic crossword clue
Spendthrift wife alters when broke 7

The most common and most likely answer to this crossword clue is the 7 letter word WASTREL

I've seen this crossword clue in The Daily Telegraph
W
A
S
T
R
E
L


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The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.
This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
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What does WASTREL mean?

WASTREL noun
  1. One who is profligate, who wastes time or resources extravagantly.
  2. A neglected child.
  3. Refuse; rubbish.

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