Time for a spending reality check.

• Position: YOUR LIFE - Brief article

For many, the Great Recession has provided a harsh reality check to stop spending recklessly and return to basic saving practices. During its height in May 2009, Americans were saving an average of 8.2% of their personal income, according to the Department of Commerce, but, as of February 2011, average saving had slipped to 5.8%, while average spending increased for the eighth consecutive month.

"After a couple of years exercising discipline in response to tough economic times, many people might feel they've rebounded enough to start spending more freely," explains Paul Golden, spokesman for the National Endowment for Financial Education, Denver, Col. "To ensure they don't land themselves back in another personal financial crisis, people need to be mindful of how they're using their disposable income.

"NEFE's Reality Check Challenge--an online confessional where individuals share their stories of impulse...