“Make that money, watch it burn”

OneRepublic – Counting Stars Lyrics on LyricsMode
EXPLANATION
Society tempts you with a bundle of money, sucks you toward a job or career. Then society tempts you with spending it on whatever 'it' wants material things like fancy cars, the latest technology gizmos, big chemically maintained lawns, etc. It's not wrong to spend money, but if you've lost your focus on how to spend the money, it can truly feel like you are just 'watching it burn'.
EXPLANATION
I think this is saying that you spend all your time working for money just to spend majority of it on bills, taxes, and necessities.
EXPLANATION
The song writer feels so much emotion that s/he no longer cares about money, but only cares about this other character, and with much emotion.
EXPLANATION
He thinks because he can't find his true love that he should just wast all of his money all on useless junk instead of being happy with true love.