When you use money or time, you spend it. If you spend a lot of time at the mall, you'll probably also spend money there.
The verb spend is good for talking about passing time on a particular activity or living in one place for a length of time: "He went on to spend years in India." When you spend money, you pay it in return for something, like when you spend five dollars on a bottle of water at the airport or spend your savings on a trip around the world. The Latin root expendere means "to weigh out money."
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