Recession happy

LANGUAGE: We all know what the word “recession” means. But do you know what a “recessionista” is? You may be one without even knowing it. According to The Irish Times , “A recessionista is a modern sort of girl who is trying to survive the credit crunch the best she can.”

The term must not, however, be confused with "conspicuous austerity", which the website Wordspy describes as someone who "openly and deliberately uses goods and services that convey a lower socioeconomic status". The recessionista always looks fantastic, despite having a low budget.

“Recessionista” was first used in the finance industry in 2001 to mean someone who believes that a recession is coming, or that one would be good for the long-term health of the economy. The term comes from “fashionista”, which describes someone who wears fashionable clothing or who works in the high-fashion industry.

"The recessionista always looks fantastic, despite having a low budget."

In the US, recessionistas have helped sales at thrift shops such as Goodwill and the Salvation Army to grow between 6 and 15 per cent in the last year. In the Ardmore Thrift Store, run by the Junior League of Philadelphia, "Business is booming, absolutely booming," manager Patricia Franks told The Philadelphia Daily News. Most of the thrift stores' proceeds go to charity, meaning that recessionistas are looking after not only their own interests, but those of others as well.