Recession Strikes Noses as Thrifty Delay Laundry

Tough times drive many to save big, buy in bulk

(NEWSER) - While the recession has left many cupboards bare, others are sagging as the cash-strapped turn into coupon-wielding obsessives who stock up on months or years worth of groceries on the cheap. While coupon usage peaked in the '90s, it surged 27% last year—mainly due to extreme coupon users, reports the Wall Street Journal . "If you can get 100 packs of toilet paper for free, you're going to," says one devotee. More»

Procter & Gamble agonizes over risky move

(NEWSER) - A cheaper Tide is rolling in: The recession-friendly Tide Basic drops some of the high-tech cleaning components—like anti-pilling ability—contained in the detergent’s traditional form, in exchange for a 20% lower price tag, the Wall Street Journal reports. But the decision to release the new Tide was no easy one for Procter & Gamble, whose executives worry that a less-expensive version could hurt sales of the classic stuff. More»

(NEWSER) - A long history of sparse employment and hardships of all stripes has built a culture of frugality that leaves Maine perfectly suited to the current recession, the Boston Globe reports. “Everybody now is into shopping thrift shops, but in most of Maine, people never stopped,” a banker says. “It’s ingrained in people here to plan for tough times.” For example: Though Mainers have the second-lowest income in New England, the state also boasts the second-lowest foreclosure rate. More»

Savings rate jumps over job, portfolio fears

(NEWSER) - Even after the economy rebounds, the US will likely remain a nation of penny pinchers—and that has economists worried, the New York Times reports. Consumer spending accounts for 70% of the country’s GDP, but Americans, fretting over job security and losses in the housing and stock sectors, are squirreling away more of their after-tax income in unprecedented fashion. More»

Recession spurs Americans to make their own beer

(NEWSER) - Home brewing has grown in popularity as Americans with increasingly sophisticated taste in beer look to cut costs, Time reports. Despite layoffs and bankruptcies nationwide, a couple in Connecticut just opened Maltose Express, a beer-brewing supply shop, and are already doing brisk business. Home brewers also gather there to share their wares and socialize. More»