The gloomy economic outlook has prompted New Yorkers to get creative with their spending habits.
So whether it's foraging for food or hunting out a bargain - there's plenty of opportunity to save a buck or two in the Big Apple.
New York's Central Park and this group have signed up for a tour with naturalist Steve Brill.
He's going to demonstrate just how easy it is to forage for free edible food.
Among the 850 acres of parkland, there's healthy plants, herbs and berries that can all be used in meals.
SOUNDBITE: Steve Brill, Forager Tour Guide saying (English):
"People want to save money when they are eating food. So they come on tours with me. They get all kinds of berries that would cost a fortune if you bought them organic."
In the past few months, as the credit crunch has taken its toll, the tour has become ever more popular. With a suggested donation of fifteen dollars it's a lot cheaper than some health stores.
SOUNDBITE: Stacy Hall, Forager saying (English):
"I've been working in fashion for the past couple of years and with the economy everything has definitely slowed down. I've been super interested in learning how to live off the land and live a sustainable life.
In Manhattan - the trend for a bargain is also catching on - operating on a simple bartering system, the Free Store is an Aladdin's cave of anything from clothing to jewellery to books.
Artists Athena Robles and Anna Stein came up with the idea.
SOUNDBITE: Athena Robles, Manager, Free Store:
"There is a real community in the sense that people can see the direct consequence of somebody enjoying something they gave."
SOUNDBITE: Anna Stein, Manager, Free Store:
"We've had an overwhelming response. We can't believe how many visitors we've had, so it's been very positive."
With many economists predicting the global downturn could last for years, frugal living could be the way forward.