A Golden Age for Cheapskates

Today's Washington Post's article, A Golden Age for Cheapskates and its companion piece, Deals are Just A Click Away both speak volumes about how more and more Americans are rediscovering the joys of frugality in this depressed economy. Landing freebies has become the national pastime and businesses are taking notice. As the main article explains:

The recession has emboldened a certain kind of consumer: The mooch. With dwindling retirement savings, a higher cost of living and wobbly job market, they don't just want discounts on items they used to pay full price for without a second thought. They want freebies -- meals, magazine subscriptions, toiletries, you name it. They scour the Internet, make clever use of coupons or simply take advantage of struggling shops and restaurants that are increasingly giving away free things to lure customers.

"One of the things that makes us feel smart is getting something for free," said Matt Wallaert, a behavioral psychologist at JustThrive.com, a free online personal financial advisory service for people in their 20s and 30s. "During a recession, frugal is not a bad word. It's a good word. This is something that people are supposed to be doing. So people think, 'I've got to get on board.' They're searching for free more than ever because it's a symbol of financial savviness."
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Another sign that consumers are increasingly searching for free items is the growing popularity of coupons. Coupon redemption on consumer packaged goods increased 16.7 percent in the fourth quarter of 2008 from the same quarter a year earlier, according to Valassis, a media and marketing services company. Savvy shoppers know that using coupons on days when stores have double or triple coupon promotions can lead to free goods.