LOS ANGELES, July 19 (UPI) -- Seventy-one percent of U.S. parents say they plan to cut back when buying clothes for their children before school starts in the fall, a survey indicates.

Penny-pinching parents across the country are restricting back-to-school spending as they find ways to deal with rising gas prices and a sluggish economy, the Los Angles Times reported Saturday.

A survey by the professional services firm Deloitte Touche Tohmatsu, based in New York, revealed most parents who were questioned said they are feeling the crunch this year.

Many teens are dealing with clothing budget restrictions by shopping in thrift and bargain stores, the newspaper said.

"It's kind of like the red badge of courage for teenagers to have something they got cheap. I think it's a direct result of the economy," said Richard Giss, a partner in Deloitte's consumer business practice in Los Angeles.