text: Many people today purchase items that were once thought of as luxuries. Websites and advertisements show the latest clothing, home furnishings, gadgets, electronics, and cars, and television shows depict lifestyles that most people cannot afford.
  Social media posts often share "rehearsed lives" where everything is "perfect" (e.g., smiling babies, trendy clothing, expensive purchases). Not surprisingly, FOMO (fear of missing out) can occur, making it difficult to fight the urge to splurge.
  Below are seven ideas to get grounded financially and live the good life within your economic means:
  Track Your Spending- Total up how much money is spent each month on various expense categories. Common expenses include housing, food, utilities, transportation, insurance, clothing, medical/health care, entertainment, gifts/contributions, personal care, credit/debt payments, and "other" (e.g., child care, union dues, child support) as well as periodic savings for financial goals.
  Identify "Leaks"- Consider monthly and annual costs of small, often unplanned, expenses (i.e., spending "leaks") that add up and what that money could buy if it was, instead, saved for a future goal or spent on a big-ticket item. Leaks are typically variable expenses including clothing, food, beverages, entertainment, and gifts.
  View Spending Cuts Positively- Consider the annual cost of "small" expenses that add up and what that money could buy if it was saved or spent on a big-ticket item. Making any kind of behavior change is difficult and takes a great amount of perseverance. Research has shown that when people want to change, instead of being forced to change, they are more successful.
  Increase Automatic Savings- Restrict the amount of money available to spend by increasing savings. One relatively painless way to do this is to automate savings deposits via payroll deductions for deposits into a bank or credit union savings account or an employer retirement account (e.g., 401(k) or 403(b) plan
  Avoid Negative Influences- Limit time spent with "shopaholic" friends and at shopping malls. In addition, be mindful of time spent scrolling online retailer websites and be alert for "dark patterns." These are techniques that trick users into doing things they did not plan to do and making it hard to undo them. Examples of dark patterns include fees added at the end of an online checkout process and "gotcha" checkboxes and hidden "opt-out" buttons.
  Set Ground Rules- Pace yourself. When deciding to purchase something, wait for at least a day. If, after that day has passed, you still think you need or want the item, then consider a purchase. If the item in question is a "big ticket" item (e.g., appliance), wait at least a week before deciding whether or not to buy it. This strategy slows down spending and helps to avoid impulse purchases.
  Identify Triggers and Substitutes- Keep a spending log and feelings at the time of purchases. When people overspend, there is often an emotional reason behind it and shopping provides a "dopamine rush" in the brain. Consider healthier mood-boosting alternatives. Examples include playing with a pet, reaching out to a friend, expressing gratitude, and free community events
  In summary, through small steps, such as expense tracking, automated savings, spending ground rules, and mindfulness, it is possible to spend less and make wise consumer decisions.
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