Pasar vs. gastar
In English, the verb to spend is used for both time and money. However, in Spanish, you must choose between pasar and gastar depending on exactly what is being spent. The difference strictly relies on whether you are experiencing a period of time or consuming a finite resource.
Pasar
A1The verb pasar translates to spend when referring exclusively to time. You use pasar to talk about how you occupy your hours, days, seasons, or moments in life.
Paso el verano en una cabaña cerca del lago.
(I spend the summer in a cabin near the lake.)
Ella pasó tres horas estudiando para el examen de matemáticas.
(She spent three hours studying for the math exam.)
Queremos pasar más tiempo con nuestra familia este año.
(We want to spend more time with our family this year.)
Ellos normalmente pasan las vacaciones viajando por Europa.
(They usually spend the holidays traveling through Europe.)
Él pasa todo el día trabajando en su nuevo proyecto.
(He spends the whole day working on his new project.)
Pasé una tarde maravillosa caminando por el parque.
(I spent a wonderful afternoon walking through the park.)
Gastar
A2The verb gastar translates to spend when referring to money, wealth, or physical resources like water, electricity, and energy. You use gastar when something is being financially paid for, consumed, or depleted.
Gasto demasiado dinero en comida rápida cada semana.
(I spend too much money on fast food every week.)
Ellos gastaron todos sus ahorros en la compra de una casa.
(They spent all their savings on buying a house.)
Por favor intenta no gastar toda el agua caliente durante tu ducha.
(Please try not to spend all the hot water during your shower.)
Tener muchas aplicaciones abiertas gasta la batería del celular muy rápido.
(Having many applications open spends the cell phone battery very fast.)
El atleta no quiere gastar toda su energía en los primeros minutos del partido.
(The athlete does not want to spend all his energy in the first minutes of the game.)
Ayer compré un regalo y gasté cincuenta dólares.
(Yesterday I bought a gift and spent fifty dollars.)
Summary
The distinction is very consistent and easy to master. If what you are spending is related to the clock or the calendar, you must use pasar. If what you are spending comes out of your wallet or consumes a physical provision, you must use gastar.