At a BCS school, especially one near a couple elites like you are at Baylor, don't recruit too much the first cycle. Just go after 4-5 guys who you really want and would have a distance advantage on an elite. The 2nd cycle is where you'll do well, going after SIMs, and you can also target non-BCS SIMs as they will be a lot cheaper to knock off. You can build a top 25 team just picking up the leftovers that elites either miss or don't want.
Also, you can try saving 40-50k for post-signings (not including battle money), and go after backups who aren't going to get signed. Realistically, top teams will have 1-2 backups each who are top 50 at their position who they have no intention on signing. Spend money on them so they are considering both you and the other team (but not enough to be winning the battle), and when the top team fills all their scholarships you'll get the guy automatically. If they aren't considering you at all, you won't get him, so you have to send enough to get on him but that's it. It can be expensive signing guys like that though, so don't bank on it too much, just try for 2 or 3 guys max. If I have 12 open scholarships, I'm usually signing 7-8 the first signing cycle, then maybe 2-3 battles, and 1-2 elite backups I have my eye on.
Spending money each cycle doesn't do anything that I'm aware of. If you see a guy considering all SIMs and it's like the 4th cycle, you want to fire big time to try to get him in one cycle. If a recruit is considering you and SIMs, you need to knock them off asap to deter other teams from hopping on him.
Also make sure to cut your youngest 3 SIMs every year if you have them on your roster, better to have the extra cash than a useless player on your roster. Just on a theoretical level, if you have 3 SIMs on your roster, it's better to cut them and get $45k for recruiting guys you want (even if those 3 end up as SIMs again!) than to keep them on your roster.