Recession Briefing: 6.30

What you need to know today to survive and thrive in the recession.

Zoos across the country are reporting higher attendance as consumers look for affordable entertainment closer to home. (Springfield News-Leader)

As well-off families confront the new contours of their budgets, education may emerge as an attractive, if painful, place to cut. (New York Times/City Room)

The recession has begun to cut into eating habits, affecting not only how much we fork out on food but also what we are putting into our shopping baskets… (BBC)

Buying Time, or How I Learned to Spend Again

When I got laid off last December and had to curb my spending, there were some things that were hard to give up. I bitched about downgrading from a fancy gym to a utilitarian one. (Read Frugal Fitness for other tips.) I tried to convince my hairstylist to come to my house so I wouldn’t have to forego his services. I was sad about not sending my laundry out—and not just because I don’t like doing the wash. (Read I Miss My Dry Cleaner.)

But there were plenty of upsides to my new frugality. It was cozier to invite friends in for drinks than go out to a bar. It was fun and creative to craft a necklace out of a vintage brooch instead of dashing out to buy something new for a formal party. Though I hate negotiating, I convinced the cable and cell phone companies to give me discounts. I’ve always been financially responsible, but I felt especially virtuous in my new restraint and resourcefulness.

The downturn seemed to have a similar impact on society as a whole. It put the brakes on rampant consumerism. In record time, we have become less materialistic, less wasteful, less brand-obsessed. The savings rate has risen from zero to nearly 7 percent, the highest it’s been since the early 1990s. I’ve been hoping that the recession would be short, but have a lasting effect on our spending habits.

A little more than a week ago, I accepted a three-month consulting gig. It inspired a mix of emotions: I was relieved to have a steady flow of income for a while. I wondered what it would be like to work in an office again. I worried about doing a good job.

But mostly what I felt was an urge to spend, spend, spend…

How to Get Cheap Newspaper and Magazine Subscriptions

Are you a papervore who is still reading newspapers and magazines? Good—we are too. And while searching for frugal ways to renew subscriptions that are expiring in the middle of a recession, we found two new ways to get our favorite publications.

Magazine resellers often give better deals than the publications themselves. Even lower prices can be had on eBay. Yes, eBay. We renewed New York Magazine for $15, versus the “bargain” $40 offered in a mailing. We spotted BusinessWeek for just $10. Hitch is, the selection is pretty random.

Frequent flyer programs are another good bet. For 500 Delta Skymiles points, we got a year’s worth of Fast Company. (Time, Sports Illustrated, W and People en Espanol were among the other titles.) United Airlines’ program offers the Wall Street Journal for just 3,300 miles. If you calculate the value of miles at one cent each, that means you can get a full year of WSJ for $33—which is basically amazing. The regular price right now is $441.

But don’t get mad at us if there are restrictions, like offers for new subscribers only, or delivery only to the continental U.S. As always, check the fine print before you buy.