2008: The Year of Living Cheaply

From ditching their cable subscriptions to opting for "staycations," many Americans found ways to cut back during the past year

It was mid-2008, and Americans were struggling to make mortgage payments and credit-card minimums. To top it off, gas prices were surging. No wonder many would-be vacationers spent their time off not in lavish hotels or posh resorts but rather right at home. It was the summer of "staycations," a catchphrase that captured part of the ethos of the year and made it onto BusinessWeek.com's Best and Worst of 2008 list.

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