American moms think we were a little greedy when we bought those fancy phoness, flat-screen TVs and fancy cars -- and that's why they're reining in our purchases. Moms, who control much household spending, won't approve purchasing anything now unless it's absolutely essential. Thats the finding of an Allen & Gerritsen study, anyway.

"Most moms believe this culture [of indulgence] contributed to the financial crisis we are in. What's more, a majority [of moms] believe most Americans are too greedy. But the pendulum has begun to swing the other way, with moms taking the lead. In this countercultural trend, moms see themselves as shunning greed and are putting family needs before their own," said the Allen & Gerritsen report. (pdf)

The upshot? Marketers can't just pitch a product as less expensive -- they've got to sell it as a household necessity in order to win over the moms.

"For nearly 2 out of 3 moms, [reining in finances] means eliminating purchases that are not absolutely necessary. And half of moms are cutting back," said the report.

*Photo: *Flickr/KRISnFRED