Recession economy brings back coupon clipping

NEW YORK ( -- With the economy slowing and unemployment soaring, consumers are looking for ways to pinch pennies anywhere they can. One way to fight the recession: coupons.

Coupon usage is on the rise, particularly among younger consumers, according to a recent study by ICOM, a marketing research company based in Ontario. Almost 60% of respondents under the age of 35 reported using more coupons in the past six months.

Mary Heather Hanley is one of them. After being laid off from the technology company she was working for and losing money on a real estate investment, the 31-year-old found herself in a personal financial crisis and needed to downsize her lifestyle.