Use the Club Store screen (Tools > Club Store) to spend the points. The points spent on a given date are stored within each clubber's record. Open any clubber's Member form and click the Attendance tab to examine all of the session records. Scrolling to the right will show the column for Points Spent. (Maximize the Member form to see more data.)
The Net Point value (sum of all points earned in the year minus the sum of all points spent) is also shown on the main tab of the member form and in the main Clubbers list grid.