New Words for a New Economy

An ad agency assigns names to our financial habits.

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Does the recession have you reaching for new words? The Chicago-based ad agency Cramer-Krasselt has come up with a list of the year's top new terms, including "Econnoisser" and "Homedulgence."

Here are a few of my favorites:

  • 201(k) (n) What’s left of a 401(k) after a recession.
    • Daylighting (v) Working a second job while on the clock for your first job.
      • Econnoisseur (n) An individual who takes great pride in finding high-quality items at low prices.
        • Enoughism (n) The realization that one has more stuff than they could ever possibly need or use.
          • Flexinomics (n) A practice of renting or leasing so as to remain financially flexible and nimble in bad economic times.
            • HENRY (n) An acronym for High Earner Not Rich Yet. Refers to people who have healthy paychecks but aren’t rich.
              • Homedulgence (n) An activity spurred on by the recession which seeks to replace going out. E.g., cocktail parties instead of bar nights and dinner parties instead of expensive restaurants. (Source: WordSpy.com)
                • Perkonomics (n) Small add-on benefits offered to consumers by companies to get or retain business.
                • Do you have some of your own? Share the words and definitions below.