recessionista
n.— «A recessionista is simply some one who seeks fashionable items that are also inexpensive.» —“Fall fashion 2008: The year of the recessionista” by Debra Braggs Press-Register (Alabama) Sept. 9, 2008. (source: Double-Tongued Dictionary)
Further reading
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Here’s another citation from the New York Times, which defines recessionista as ““recessionista,” the new name for the style maven on a budget” (and the article quotes Grant Barrett):
http://www.nytimes.com/2008/10/26/fashion/26words.html?_r=1&scp=1&sq=recessionista&st=cse&oref=slogin
And still another citation from a Philippine newspaper, which defines recessionista as “the recession-chic fashionista”:
http://showbizandstyle.inquirer.net/lifestyle/lifestyle/view/20081225-179952/2008-Recessionista-must-haves
You might also want to check out this other language website, which includes a 2001 citation of recessionista used, not in the context of fashion, but in the sense of “a person who insists that a recession is coming or believes that a recession would be good for the long-term health of the economy.”
http://www.wordspy.com/words/recessionista.asp