Tennis-star Serena Williams is cutting back on her extravagant spending as the global financial crisis takes a toll on how she spends her hard earned cash.

The nine-time Grand Slam winner and twin sister of equally talented, Venus Williams, has resorted to spending less on bling and more time at home in an effort to save.

The bag I'm carrying now is from American Apparel. It's only, like, 12 dollars, Williams told AFP.

I really cut back, you know. I don't know if it's because it's everywhere in the media, the financial crisis, but it's low tide for me. I'm not out there buying crazy things.

As a resort, she says she will be spending more time at home watching her favorite show Desperate Wives and latest movies.

I'm obsessed with 'Desperate Housewives,' so I'm waiting for Monday so I can download the next episode.

That's kind of what I do. I just watch TV on my computer. It relaxes me, she said.