From being very strapped lately, I will say this:
Because we've been forced to eat at home and cook (since raw foods can be cheaper than pre-packaged crap if a little effort is made), we've been healthier and enjoying a lot of neat dinners lately. I've even slowly been losing weight without trying at all. So, not being able to eat out or run over to a drive-thru has been a blessing really.
I think that people feel the burn more when they don't get creative with what they already have. I've even been rediscovering all kinds of old hobbies lately and having a blast with them. It's a way to "ride the tide" until things get better. Why be miserable when I don't have to be? There might not be money to buy new things, but we have plenty of crap already that can be enjoyed.
For example, I really wish we could afford a Wii, but it's not in the cards right now. However, I have my old NES system out in the garage that hasn't been touched in over a decade. It will be like setting up a whole new system and playing the games for the first time. I'm quite looking forward to it.
