Garrett Harris 2:03 p.m., May 24
San Diego One of Five Most Frugal Cities
The Atlantic.com has named San Diego one of the five most frugal cities in the U.S. -- thus tying for the 2009 Frugal Fannie award. The publication selected major cities whose consumers' discretionary spending is below average, and also dropped by the most over the last year. The five cities are San Diego (spending down 23%), Portland (21%), Brooklyn (28%), Indianapolis (14%) and Miami (16%). Some cities dropped a lot more in percentage terms, but don't qualify for the award because spending is above average. For example, Los Angeles was down 25% and San Jose down 27% but they are big spenders. Data came from Mint.com. The Atlantic says "San Diego and Miami are both victims of their states' horrible bout of real estate implosion and credit crisis."