...In this way, I have not started studying & I flunked in two papers in which I need to pay fees.At the time of asking for fees I feel bad that I am wasting my parents money but later I become casual in my approach.My parents scold me for not utilizing their money in proper way later they pay way by giving the fees.
I know this is wrong so please enlighten me more on this with your useful guidance.I wish to come out of this.

Please, do not waste money. Money is Lakshmi Devi. If we do not respect Her then She will leave us. But if we use Her in Krishna's service then She will always be ready to help us. It mean in Your case You have to study well and work for Krishna's pleasure.

To become an exemplary student so that it will glorify Krishna.

There is nothing easy to achieve. To become a fool is only easy thing but to be intelligent and wise person is very difficult. but worth for striving, isn't it :-)!?