be burning a hole in (one's) pocket
To be something that one is very eager to spend or use. Most commonly used of money. That money is just burning a hole in my pocket—there's no way I'll be able to save it all.
be burning a hole in your pocket
If money is burning a hole in your pocket, you are very eager to spend it. What do you do when you've got 280m burning a hole in your pocket? Buy an island, naturally. Although he now has millions burning a hole in his pocket, he cannot spend a penny until January.