Supplying power Nokia 5110 display


I am using a Nokia 5110 display with a 4050 level shifter chip. The best option would be to use a 3.3V voltage regulator. Can I use a resistor connected to the 5V voltage regulator to power the display? If yes, what would be an appropriate resistor value? The back light will be turned on and off during the day and night.


I know 2 way, well documented:

This is used to convert 5V to 3.3V logic as converter. Get a try, this could be enough to power LED and LCD.
Zener diode option, not sure about it availability