Shopping until you drop: That's so five years ago.
The trend for Americans for 2009, as the housing crisis continues and more and more layoffs are announced, is saving, whether in a piggy bank, a real bank, or even some cash stuffed under the mattress.
"We've definitely changed our habits in the last several months," said Marietta resident Kristina Martin, 37. "We've cut back on eating out especially and just tried to save a little here and there. And we're holding on to that money and not spending it somewhere else."
The result, she said, is a feeling of security.
"We would still be in trouble if my husband or myself lost our jobs," Martin said. "But if we need a new washing machine or the car breaks down, we can handle that."
The old standby of having six months' income saved for emergencies is still good to follow, said James Watson, a financial adviser with Fleming Watson Financial Services in Marietta. But every little bit is important, he said.
"It's never too late to get started," Watson said. "It's smart to save as much as a person can in any economy and to build up some amount of cash reserve to help weather times like this."
Watson said the struggling economy has changed some of the advice he gives.
"For short-term savings, traditionally we would have suggested money market funds, but with the interest rate environment very low, there's not very much return right now," he said. "Sometimes CDs are a better choice right now - for six months or one year."
For long-term investments, Watson still recommends money market accounts, he said.
"As rates go back up, money markets will rise," he said.
He has tried to educate clients on how to weather economic downturns and still make investments with their money, Watson said.
"It's a concern for both us and the clients, but experience has told us that the U.S. economy will turn around and get better," he said. "Investment portfolios will get better - we just don't know when."
Shay Walker, 31, of Reno, said she's had relatives advise her to literally stick money under the mattress or in a safe place at home until things get better.
"People are really scared with the banks going under and everything," she said. "I think it's instinct to do that even if it's not the smartest thing."
Watson said there's always a better option than storing money at home, where it's vulnerable to a fire or a break-in.
"We have some good, stable local banks that are FDIC insured," he said. "At least there, your money can earn something."
With three children to support, Walker said she's unable to save much anyway, although it's a goal.
"We're paycheck to paycheck," she said. "I think that's the norm around here."
Marietta resident Jim Shaw, 56, said he has been saving - a lifelong habit - and is especially grateful for it now.
"I know so many people who don't or can't save money," he said. "I've done a little at a time so right now I'm not as worried."
Shaw started saving with his very first paycheck, often putting away only $5 to $10 from each paycheck.
"It was something my father really instilled in me," he said. "I always saved and now I have investments, although I stay pretty conservative."
For those who have a little bit of money to invest, now may be just the time, said Watson, as scary as it may seem.
"Now is probably a very good opportunity to be buying while the market is low," he said. "If you need the money in three years, or longer, put it in the market."
