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You can purchase ammo with it, but nothing else.
https://gta.fandom.com/wiki/Money
Well, GTA 1, 2 and London did have things to buy, but it was limited. You paid for the auto shops and rigging car bombs. Not a lot but it was there, if your funds were too low you couldn't use those services. In GTA 1 and London the money/score translated into being able to move on to the next level as it unlocked progression. In GTA 2 you paid for the same things and other auto services, also paid to save the game too. Very arcady but it had a purpose.
No, I'm just elaborating more.