Buzzword: Recessionista

What it means. Rooted in the fashion world, recessionista describes a style maven who stays ahead of the trends without falling too deeply into debt. It joins other reeling-economy Buzzwords, including boomerang children, brickor mortis, and staycation, as well frugalista, which William Safire wrote about in his "On Language" column in the November 23, 2008, edition of The New York Times Magazine.

Why the buzz? Recessionista is relevant to home improvement, too, especially in these tough times. In 2009, the average consumer will spend $1,300 to undertake 2.8 remodeling projects at home, according to the Home Improvement Research Institute. Obviously that money isn't going to buy dramatic changes for your abode, but it is possible to add style and function on a budget.

Buy second-hand. Clothes hounds shop at consignment shops and thrift stores. For the home, you can buy gently used appliances and building products at salvage shops and Habitat for Humanity-run Habitat ReStores and through organizations like Green Demolitions. Freecycle, an online network used by people to trade household items, is another option.

Accessorize your spaces. This rule gets the most mileage in the kitchen. Whereas new cabinets can cost many thousands of dollars, updating the hardware and applying crown molding, for instance, will transform the look of your kitchen for a small fraction of the cost. For the interiors, inexpensive cabinet organizers improve function and capacity.

Look for alternative materials. In our latest test of countertops, laminates were singled out for their wide variety of patterns and colors. Among flooring, the best plastic laminates actually wore better than most wood, for as little as half the cost. Read more about this option in "10 Questions for . . . Fernando Pages Ruiz, Contractor."

Enhance the lighting. You can create flattering lighting at home with a minimal investment by installing dimmer switches, which allow you to adjust light levels depending on the activity, say high for cleaning and low for dining. Task lighting will make your home a safe, inviting place for people of all ages and abilities. Another easy way to save with lighting is to install compact fluorescent lightbulbs. 

Get your house in shape. Fashion freaks might lose a few pounds to squeeze into a gotta-have-it bargain buy. At home, you need to gain rather than lose—that is, boost the energy efficiency of your space. If single-pane windows are failing, replacement windows can save you 10 to 25 percent per year on heating and cooling and enhance the curb appeal of your home. Plugging air leaks in the attic and walls will save energy and eliminate uncomfortable drafts.—Daniel DiClerico

Essential information: Before you start your next remodel, check out our Home Improvement Guide interactive, which offers buying advice on appliances, tools, and building materials.