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"less to spend" is correct and can be used in written English
You can use it to refer to having less money to use for various purposes. For example: "After the recession hit, many people had less to spend on luxuries."
Exact(58)
She also has less to spend.
Less borrowing means less to spend.
This will leave less to spend and invest.
A person earning $50,000 a year has about $1,000 less to spend this year.
Consumers have more debt, so they have less to spend on philanthropy.
And most employers have much less to spend to make things pleasant.
Consumers paying more for their petrol and heating oil have less to spend on other things.
"Because when middle-class families have less to spend, guess what?
A person earning $50,000 has about $1,000 less to spend in 2013.
The purchasers of those bonds have less to spend on something else.
In some ways, they're doing better, since there's less to spend money on.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com