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What does "kiss it goodbye" mean?

kiss it goodbye text - mp3

kiss it goodbye

Definition:

to anticipate or experience a loss of something

Usage:

informal, conversational

Sample Dialogue:

A: Melissa, you need to stop playing and study for your test.
B: But I already know everything. I don't need to study.
A: OK. But if you fail, you can kiss your scholarship goodbye

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