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THURSDAY, NOVEMBER 26, 2009
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Frugalistas Rejoice: Recession Is a Validation

'Frugalistas' embrace new thrifty values

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(Newser) – Shredding credit cards and buying less may sound like consumer America's version of hell, but some—especially those penny-pinchers long scoffed at as miserly—are downright gleeful. "This validates the choices I've made," one tells the New York Times. With the savings rate up a remarkable 4 points since fall, "frugal living" groups have become the rage and stylish "frugalistas" have invaded the fashion world.

Gone are premium cable packages, summer travel plans, and even high-end groceries. "It implies a re-emergence of thrift as a value," says an economics professor. Never mind that less consumption will slow the pace of recovery. "Never waste a crisis," says a Missouri consultant, borrowing a well-worn political phrase of late. She herself doesn't buy paper napkins anymore. "I love it. This is a chance for us to re-examine what's important."

Greg Selig, owner of Encore consignment shop, displays a Chanel jacket he is selling for $85 in his New York stores.
Greg Selig, owner of Encore consignment shop, displays a Chanel jacket he is selling for $85 in his New York stores.   (AP Photo/Mark Lennihan)
Women feel proud nowadays when they get compliments on a dress bought at a thrift store, says the head of an online clothing swap.
Women feel proud nowadays when they get compliments on a dress bought at a thrift store, says the head of an online clothing swap.   (AP Photo/Seth Wenig)
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When a woman gets a compliment on a dress she got at a swap or the Salvation Army, she feels almost proud.
- Suzanne Agasi, operator of clothingswaps.com

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3 comments
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TerrifiedCitizen
Apr 11, 09 12:22 PM CDT
I need help finding bargain cut-rate fuel... Reply
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radnip
Apr 15, 09 7:42 AM CDT
Pay attention.
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freethemall
Apr 11, 09 1:56 PM CDT
Up to this time, one could find terrific bargains in thrift stores. I hope that doesn't change as a result of more people frequenting these stores. Reply
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