Emphasis really does need to be placed on negotiating for lower prices though. Unfortunately, falling prices aren’t uniform. While housing and to some extent cars and food are becoming less expensive, other categories still favored by the public purse–taxes, healthcare, education and utilities–are still in an inflationary spiral. Negotiating on major purchases, repairs and services might help to offset these.

With the new shift toward thrift, it’s easier now than ever to pare back on expenses like eating out, entertainment and buying the latest clothes and gadgets. That’s one of deflations secondary benefits. Not so many people are afraid to say “I can’t afford it”.

Although there may be some positives in terms of getting some good deals, the uncertainty of employment is greater since businesses are looking to cut workforce to help offset lower profits.

If this is the case, most people would be better off taking the extra savings and plunking it into an emergency fund or paying off consumer debt so they are better prepared to handle the rough ride.