Released: November 17, 2008

Americans are trying to save

Source: Mindy Fetterman, USA TODAY

Spendthrift (spend’ thrift’) n. a person who spends money carelessly; squanderer. Frugal (froo’ gel) adj. not wasteful; not spending freely; thrifty.

As economic news has worsened and recession appears inevitable, Americans’ spending habits have swung from one definition to another.

Spendthrift to frugal, in record time.

After years of free-spending and saying “charge it” at every turn, Americans are using words such as “scrimp and save” and “scrape up some cash.” Now, they’re cutting back on almost all fronts, regardless of how much they earn.

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