In light of last week's post about how we are feeling about the economy in general and our personal finances in specific (we fell better about the former than the latter), it was very interesting to see the new study out from American Express about our spending and saving plans for 2011.

First of all, the good news.  Americans saved at record levels last year, putting aside $14,000 on average.  This is well above pre-recession savings levels, and is a sign people are trying to get back to a more balanced approach to personal finance.

Now the bad news.  All that "doing without" created such pent up demand that people are entering the new year with a reduced commitment to save and a greater desire to spend.  Americans report they plan to only save $2,600 this year. 

More than half the adults surveyed said they plan to send more than or about the same as last year.  Their priorities are personal--grooming (73%), health/fitness (70%) and clothes for themselves (61%). Less money will be spent on video systems/games, jewelry, portable media players and tablet computers and e-readers.

I'm encouraged that people are going to spend money getting healthier.  That will save us all money on healthcare costs.  But what about good old fashioned self-discipline?  Eating less?  Exercising more?  Getting a good night's sleep?  Maintaining healthy relationships with friends and family?  Those are low/no cost items that still allow you to save money and look/feel good?

What about you?  Are you taking a hiatus from saving or are you finding ways to save and spend at reasonable levels?  If you are spending, is it on health/fitness/appearance for yourself?