In the following sentence, although a gerund would be preferred, is the usage of "to spend" correct?
"Do you really think it's worth it to spend hundreds of pounds on video games?"
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Either your sentence or "Do you really think it's worth spending hundreds..." would be interchangeably correct. The decision toward one or the other would be based entirely on which tone was appropriate for the speaker...the gerund version is a bit less formal. Is your speaker more formal or less formal?