Necessity or Luxury? Please Redefine.

Publication: The Washington Post

Author: Michelle Singletary

05/21/2009 - A Time magazine cover this spring featured a glass jar partially filled with coins labeled "The New Frugality."

Months earlier, BusinessWeek featured a red cover cinched by a black belt. It declared the recession had pushed us into "The New Frugality" age.

A new survey by the Pew Research Center's project on social and demographic trends found that 60 percent of all younger and middle-aged adults say they are doing more shopping at discount stores or avoiding more expensive brands.

Pew said nearly a quarter of younger adults say they plan to plant a "recession garden" to trim their food bills.

Another Pew study released in April found that from the kitchen to the laundry room to home entertainment, consumers are paring down the list of things they can't live without. I loved the title of that report: "Luxury or Necessity? The Public Makes a U-Turn."

Read the full article Necessity or Luxury? Please Redefine. on the Washington Post's Web site.

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