Spending

Spending, on the other hand, is the process of using money to purchase goods and/or services

Spending should be done wisely. You should research and plan before making large spending decisions, particularly when those choices are out of your means.

Another way of looking at it is through the perspective of opportunity cost – the benefit that could have been gained from choosing the other option. For instance, if you choose to spend your money on a new video game, the opportunity cost is the value of what you could have purchased with that money instead, such as a movie ticket or a new book.

Source: Money Control