There is plenty of relevant psychological advice, here is some more narrowly economic advice from my latest Bloomberg column. Start with this key point:
…it is a common result in empirical economics that consumption habits are slow to adjust to changing circumstances, especially unprecedented circumstances. It is not enough for you to develop new spending habits — you should double down on them.
Savings have been so high in part because people are hoarding resources for an uncertain future. But a lot of the explanation, especially for those with higher incomes, is that planned expenditures became impossible, dangerous or inconvenient. Instead of flying to Paris and staying at a hotel on the Seine, they drove to a cabin in Maine or West Virginia. Or maybe they postponed that purchase of a new car or spent less time browsing in a bookstore. In any case, the end result is less spending and more savings, whether conscious or not.
Those may well have been prudent decisions. Still, many of us are not spending enough money having fun. We have been too slow to develop new, Covid-compatible interests.
Furthermore, likely you are underinvesting in driving to go see people, again due to the sluggishness of habit adjustment. In most parts of America, traffic remains somewhat lower than before, and your human contact is likely lower than before. Go and have lunch with them outside before the weather gets too cold!