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With credit tight and economic worries weighing on everyone's wallet, more and more shoppers are hitting the stores with an eye for bargains. It's this attitude that inspired a new website called Cheapism.com, where founder and CEO Max Levitte re-brands what was once thought to be character flaw.

"Cheap used to be a derogatory term but no more," says Levitte. "People are now being proud of buying low-priced products."

The site offers reviews of countless products from big screen TVs to small kitchen appliances, all on the lower end of the cost spectrum. While buyers will likely have to give up some bells and whistles to stay within their budget, they'll still find the best bang for their bargain-hunting buck.

"The cheap products, you have to accept the fact that they are not the absolutely best products out there," says Levitte. "We realize that, but we still think many people can't afford to buy the $200 steamer and they only have $50, and they want the best steamer for those $50."

This "never pay full price" mindset has also caused a surge in coupon use. Landy Ung, the co-founder of 8coupons.com, which is launching nationwide this month, says her site lists area-specific deals on everything from restaurants to day spas.

"We've really seen an interest in people who before didn't really think about or look for coupons," says Ung. "Now not only are they thinking about coupons, but they are expecting deals and offers."

If frugality is all the fashion, clipping paper coupons is so last season. Several companies, including 8coupons.com, can send the deals directly to cell phones, so penny-pinchers can be chic and cheap all at once.

"You know, you think of 'coupons,' even the word itself has a stigma to it. But I think now the general population doesn't think that anymore," says Ung. "It's almost cool to save money."

Saving money may be in vogue right now, but some frugalistas say once the economy turns around, shoppers will not go back to old free-spending fashionista ways.

"I think I might find times where I spend more here and there, but I think you get in a mindset and it becomes a habit," says shopper Erin Moayedi.

"Frugality is here to stay and it's not going anywhere," says Levitte.

Many shoppers say that advice makes a whole lot of "cents."