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As the credit crunch bites it is natural many will worry about their finances.

There is growing resentment against consumption and a disassociation from luxury goods and symbols of wealth.

Whilst 'keeping up with the Jones's' is often quoted, a new trend is emerging as a result of the credit crunch. It is causing teenagers, to alter their behaviour. They're becoming thrifty!

USA Today has recently reported that sales at popular fashion brands like Abercrombie are falling. Dispelling the notion that teenage spending is recession proof.

Guess what? It's becoming cool to be frugal. How so you ask? Here are some examples

1) Ellegirl.com are launched a new video fixture called 'Self Made Girl' on how to make your own clothes. Holly Siegel, the site's senior editor said it's no longer about teens "one-upping each other," but rather where they can get it cheap.
2) As sales at Abercrombie remain sluggish, it has led other discount retailers to profit at their expense. Aeropostale Inc., whose jeans are about 30% cheaper than Abercrombie & Fitch as well as H&M and Steve & Barry's should do well.

I'd like to end my point with a quote from Anna D'Agrosa, director of Consumer Insights at The Zandl Group, a market research company focusing on teens. 'It is way cooler to get a super deal on that shirt rather than being able to spend the most money. Kids are really aware of what is happening to their economy and to their families."