Skip Nav
Travel
This Illegal Hike in Hawaii Is Nicknamed the "Stairway to Heaven" For Good Reason
Travel
1 Life-Changing Airplane Hack From Someone Who Flies First Class Often
Affordable Decor
It's Never Too Early! Target Released Its Halloween Collection — Here Are 15 Items Under $25

Frugal Habits

Waste Not, Want Not: Consumers Hang On to Frugal Recessionary Habits

The recession was a shock to everyone's systems, and as a result, more people have picked up frugal habits. According to a New York Times article, consumers have stuck with those thrifty ways post-recession.

One of the bigger saving trends is extending the life of products. For example, people are taking longer to upgrade cars and gadgets like phones and laptops; even daily hygiene products like toothpaste and shampoo are being used to the last drop. And this isn't just a temporary behavioral shift. Nancy F. Koehn, a professor at the Harvard Business School and consumerism expert, believes that this attitude will be permanent or long-lasting, because of insecurities about how reliable the government and major companies are in a financial crisis.

It seems like people are straying away from the shiny new things and opting for the necessities route. What about you? How often do you upgrade your gadgets?

Image Source: Thinkstock
Join The Conversation
20 Baby Keepsakes Moms Hold Onto
Amazon Employee Secrets
When Can Kids Ride in Front Seat of Car?
Away Luggage Review
From Our Partners
Latest Afforable DIY & Organization
All the Latest From Ryan Reynolds