The Collaborative International Dictionary of English v.0.48:

Spending \Spend"ing\, n.
   The act of expending; expenditure.
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   Spending money, money set apart for extra (not necessary)
      personal expenses; pocket money. [Colloq.]
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The Collaborative International Dictionary of English v.0.48:

Spend \Spend\, v. t. [imp. & p. p. Spent; p. pr. & vb. n.
   Spending.] [AS. spendan (in comp.), fr. L. expendere or
   dispendere to weigh out, to expend, dispense. See Pendant,
   and cf. Dispend, Expend, Spence, Spencer.]
   1. To weigh or lay out; to dispose of; to part with; as, to
      spend money for clothing.
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            Spend thou that in the town.          --Shak.
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            Wherefore do ye spend money for that which is not
            bread?                                --Isa. lv. 2.
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   2. To bestow; to employ; -- often with on or upon.
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            I . . . am never loath
            To spend my judgment.                 --Herbert.
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   3. To consume; to waste; to squander; to exhaust; as, to
      spend an estate in gaming or other vices.
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   4. To pass, as time; to suffer to pass away; as, to spend a
      day idly; to spend winter abroad.
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            We spend our years as a tale that is told. --Ps. xc.
                                                  9.
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   5. To exhaust of force or strength; to waste; to wear away;
      as, the violence of the waves was spent.
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            Their bodies spent with long labor and thirst.
                                                  --Knolles.
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WordNet (r) 3.0 (2006):

spending
    n 1: the act of spending or disbursing money [syn: spending,
         disbursement, disbursal, outlay]
    2: money paid out; an amount spent [syn: outgo, spending,
       expenditure, outlay] [ant: income]