Top 10 'New Frugal' Stocks

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A recent Time magazine cover story described it as, "The New Frugality"—the change in behavior, attitudes and even values Americans are embracing as a byproduct of the "Great Recession." Most of us have in some way altered our spending habits as a direct result of the worst economic downturn since the 1930s. We also have been forced to alter our investing behavior, as some of the best blue chip companies of the past are now teetering on the brink of bankruptcy.

So, what's an investor to do now that we are living in a "Frugal Nation"?

The answer is to find the stocks that thrive in the new frugal environment. Of course, this is easier said than done, so to put your mental gears in motion we're introducing 10 stocks to buy in a recession. These "New Frugality" stocks could make you a pretty penny now that Americans are watching their pennies.

Next: Frugal Stock #1—SPDR KBW Regional Banking