Finding Solace While Being Frugal In Spending

Nine out of 10 Americans said they are cutting back expenses or discretionary spending at least somewhat because of the current economic conditions; according to a recent study from market research firm GfK Roper Consulting.

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Consumers are finding ways to maintain their quality of life, Berry explained. Even in a time of belt-tightening, Americans are demonstrating a strong "reluctance to give up on everyday pleasures," he said.

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But that doesn't mean there's no fun to be had. Many Americans are leaving the car in the garage and staying on their living room couch. A whopping 50% of Americans plan to buy an HD or flat-panel TV in the next year, the study showed, with little difference between those who are hardest hit by the downturn and those who are not. Cable and satellite TV subscriptions are also way down the list on cutbacks.

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To combat the rising cost of food, consumers across all income groups are hunting down coupons to keep buying the items that they want, at a price they can afford. And they may be eating out less, but they are investing more in growing their own greens and dining well at home. Gardening is having a banner year, Berry said.