There's no denying the current economic crisis. That said, I've been trying my best to save money and cut back on everything — even shopping. Times like these make me envy the lifestyles of the rich and famous, but even they aren't immune to this problem. At New York Fashion Week, Hollywood girls Michelle Trachtenberg, Jessica Stroup, and Nicky Hilton dished on how they've been cutting back on their spending habits.

Michelle Trachtenberg
- Michelle likes to mix H&M and Target into her wardrobe. “I have always kept in mind that my fans are teenagers and they don’t have a lot of money to spend. They like to get looks for less.”
- Jessica claims she has “always been a bit frugal.” The actress likes to reinvent her old pieces and is always on the lookout for sales.
- Even the heiress is getting more money savvy. “I’m being smarter about my spending. I’m not going into stores and buying anything. I am buying more pieces instead of just a bunch of clothes.”
Jessica Stroup
Nicky Hilton
Ed Hardy
theOutnet
Jerome Dreyfuss
I love Michelle Tracthenberg's hair! God I wish my hair looked like that...
1I love Jessica's dress!
2I'm a fan of MT.
3oh please, I don't believe a word they're saying.
4Wow what concessions that have to make in this economy!
5michelle does do what she says! she wears a lot of stuff from urban outfitters too--we have like, 4 of the same scarves (odd coincidence...or just really awesome, inexpensive scarves).
6i don't believe nicky at all--she didn't really answer the question.
I'm glad to hear that even celebrities are trying to cut back, but I'm not too sure about how hard they're trying.
7LOL Nicky Hilton's advice is sooooo useful! Don't buy bunches of clothes but buy pieces (aka clothes).
8Haha...Nicky Hilton is cutting back on her spending?? As if she would ever need to.
9pieces...of what? yeesh.
10Whatever! The only one I can kind of believe is Michelle.
11Celebrities with a lot of money should not cut back. They should spend their money and stimulate the economy!
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