What's In and What's Out in Recessionary Times

What's Out: Nordstrom
What's In: Wal-Mart

When this blogger found home-improvement supplies at her local hardware beyond her budget, she swallowed her pride and visited Wal-Mart for the first time. She was shocked to find that she had saved 40% on hardware, and also bought groceries, a PlayStation game and -- gasp -- a shirt. Being a Nordstrom shopper, she never thought she'd see the day when she bought clothes at a Wal-Mart.

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Next: Mall vs. Thrift Stores

What's Out: The Mall
What's In: Thrift Stores

The real shopping crowds this holiday season aren't at the mall -- no one's paying full price for anything anymore. But you will find long lines at your local thrift stores where you can purchase new and gently used clothes, furniture, accessories, and more for just a few bucks a pop.

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Next: Harleys vs. Scooters

What's Out: Harley-Davidson
What's In: Scooters

The past year has been unkind to Harley-Davidson, as the credit crunch, overproduction and a drop in used bike value have conspired to depress sales and earnings. At the same time, fuel efficiency brought a 65.7% jump in the sale of motor scooters.

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Next: Disney World vs. Public Parks

What's Out: Disney World

What's In: Public Parks

Ten percent fewer families have visited Disney World this year, and the stock has been depressed as investors expect "Armageddon at the parks." The fact is that families strapped for cash to heat their homes and buy groceries are probably going to avoid the indulgent and expensive family vacations.

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Next: Starbucks vs. Home-Brewed

What's Out: Starbucks
What's In: Home-Brewed

Assuming we spend $2.79 a day on something like a latte five days a week for 50 weeks a year (subtracting two weeks' vacation), that's some $700 before tax. Half the time, we don't stop at that figure though. We go venti; we buy froth or shots; we eat. So that figure is often a bare minimum. Depending on your beans, home-brewed coffee ranges from 20 to 40 cents a cup, or $50 to $100 a year.

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Next: Expensive Wine vs. Two Buck Chuck

What's Out: Pricey Wine
What's In: 2-Buck Chuck

Two-buck Chuck, which Trader Joe's sold under the Charles Shaw label, got its nickname because of its insanely low price, but caught on because it was actually quite good. As the oenophiles might say, it was quite drinkable -- particularly for the average guy. Who needs to pay $30 for a bottle of wine that will be empty before dinner's done?

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Next: Atkins vs. Cookie Diet

What's Out: Atkins Diet
What's In: Cookie Diet?

As America struggles with a 25% obesity rate, our waistline will continue to be a concern, but tempered by our newly-trim wallet. Diet regimes that depend on pre-packaged meals, such as Jenny Craig, will be the first to feel the pinch (an inch). A 2005 Forbes study of the costs of well-known weight-loss plans pegged Jenny Craig at $137.65 per week.

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Next: Organic vs. Frugality

What's Out: Organic Food
What's In: Frugality

In today's economy, paychecks are not going as far as they used to. Where once a pound of organic, grass-fed ground beef $5.50, it's now climbed to $7.70. Where once organic yogurt retailed at 79 cents, it is now 99 cents. As a result, this blogger is weaning herself off her organic habit.

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Next: Cable TV vs. Internet TV

What's Out: Cable TV
What's In: Internet TV

This blogger has a home phone and a cell phone. He also has cable television and high-speed Internet. Not duplicate services? True; cable TV decides what he'll watch and when, while TV over the Internet allows him to watch what he wants and when he wants. For free.

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Next: New vs. Refurbished Gadgets

What's Out: New Gadgets
What's In: Refurbished

A refurbished gadget isn't "used." But it is fair to say that it was "previously owned." In most cases, a refurbished product is one that was purchased but then returned to the retailer who sends the unit back to the factory to be tested and repackaged. Deals are many, with some refurbished products selling for 25% less, including the original full factory warranty.

Next: Credit Cards vs. Debit Cards

What's Out: Credit Cards
What's In: Debit Cards

The joy of using a credit card, as almost everyone who has used one on a spending spree or a weekend out knows, can easily turn to sorrow a month later if the bill isn't paid on time. Late fees, not paying off the balance each month, and 18% or higher interest rates add up and turn that $250 night on the town into a $300 debt.

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Next: Bar-Hopping vs. Pre-Gaming

What's Out: Bar Hopping
What's In: Pre-Gaming

Pre-gaming, for the uninitiated, is the practice of beginning your drinking in the comfort and the cost effectiveness of your own home. Once you've worked up a good buzz, you can head out for a night on the town and sustain your inebriation for a fraction of the cost.

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Next: College vs. Trade School

What's Out: College
What's In: Trade School

College can be cost-prohibitive, but there is one possible alternative -- learning some sort of trade that can pay the bills and taking classes at a community college before transferring to a four-year college.

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Next: Office Parties vs. BYOB Parties

What's Out: Office Parties
What's In: BYOB

Many large companies -- American Express, Disney and Viacom, among them -- have cancelled big holiday bashes as the economic gloom deepens. Lavish bashes held at swanky hotspots replete with entertainment, open bar and buffet tables groaning with goodies are out.

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Next: Major-League Baseball vs. AAA Ball

What's Out: MLB
What's In: AAA Ball

By the time the fourth inning of the last Major League game I attended came around, I found myself resenting the whole set-up. I had paid $40 for tickets, $30 for food, and $10 for backpack storage just so I could be background scenery in a game that was clearly being packaged for the home audience.

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Next: Nannies vs. Grannies

What's Out: Nannies
What's In: Grannies

While the good times rolled, ambitious parents were able to pursue their aspirations while still providing the best of care for their toddlers by hiring a live-in nanny. Now that the market is tanking and job loss is rampant, many are turning to the lowest cost provider: grandma.

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Next: The Stock Market vs. Money in Mattresses

What's Out: Stock Market
What's In: Mattresses

If you put $7,000 into an index fund last year, you'd now have somewhere around $5,000. That same $7,000 would be, er, $7,000 under your mattress (plus a little more, counting the small change that fell out of your pants pocket every night changing into your 'jammies).

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Next: Alan Greenspan vs. Warren Buffett

What's Out: Greenspan
What's in: Buffett

It's the end of an era. Former chair of the Federal Reserve Alan Greenspan's urbane outlook and exuberant approach to economics has been usurped by hometown billionaire Warren Buffett, whose corn-fed approach to investment has always seemed stodgy even as it made him the richest man in the world.

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Next: Peak Air Travel vs. Off-Hours Air Travel

What's Out: Peak Travel
What's In: Off-Hours

Cash-strapped travelers are catching on to a key money-saving strategy: fly when fewer people want to. It's simple supply and demand, really. When flights fill, prices escalate. When seats are empty, prices stay low. If you have ever purchased holiday flights many months in advance, it's because you already live by this rule.

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Next: Payday Loans vs. Pawn Shops

What's Out: Payday Lender
What's In: Pawn Shops

November was a tough month for the payday lender business, as Arizona and Ohio joined a host of other states imposing caps on fees that will effectively drive them out of business. As a result, the unbanked in need of quick cash are being forced back to an ancient alternative -- the pawnbroker.

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Next: More From WalletPop

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