Sorry, but i just don't buy this, i think the question should be more about how has he spent the money in the best way?
eg: take Fellaini, he cost £15m, now for that price we could have had 2 £7-8m players rather than 1 £15m, which would have increased numbers, not much i grant you that, but still 2 players as supposed to 1, and as good as he is, it was a lot to spend on someone of that age for a club like us. Also there is everyones favourite scapegoat Bily, why the hell did Moyes spend £10m on a player who clearly is not a wide man yet was bought to do that job, we can't afford those kind of mistakes, it comes down to either, poor scouting or poor judgment on his part
Whilst i agree he has not had BIG money to spend, but then outside of the top 4, what manager has? but he has had money over the years, its more about how he has spent it, but then to his credit, he bought in players like Cahill and Arteta fairly cheap.