The Cheapest Family In America
While most have been worried about keeping up with the Jones’s, self proclaimed cheapskates, or so they have been called, get by with no debt or need of payday loans on just $44 thousand dollars a year for the seven of them.
Meet the “Frugals”
Steve and Anette Economides have been called a lot of things over the years for their frugal money saving tactics but nobody is laughing at them now. With everyone else worried about how the economy is going to affect them, these two and there five children aren’t worried at all.
National Acclaim For Careful Spending
Frugal spending has made Steve and Anette Economides Famous!
Now gaining national attention as “The Cheapest Family In America”, they are now helping to show others how to live debt free.
Living debt free they say doesn’t mean you have to go without the better things in life as the Economides live in a nicer neighborhood with some nicer things that those with twice the income may not be accustomed to. Knowing how to spend your money, when to spend it and where to spend it are all factored into their money saving strategies.
Feeding Seven With the Funds For Two
According to Anette Economides, she claims to be the “Warren Buffet of Groceries” saving a large percentage of her grocery bill by taking advantage of coupons and local sales adds each week. She claims it only costs her $350 per month to feed her family of seven.
A Quality Christmas Made Cheap
Christmas shopping has been made affordable as well. By hitting clearance sales Annete was able to pay cash for twelve items totaling only $17.15. Their total shopping bill this Christmas totaled only $90 for 27 gifts, and they weren’t shopping at the dollar store mind you.
Children Follow Their Parents Lead
The children who you think would be embarrassed with such frugal tactics to save money, get in on the fun of bargain hunting as well.
Abbey, was able to hunt down a pair of $120 Lucky jeans for just $8 and called that expensive for jeans. Her wardrobe bears the brand names typically worn by only the overprivileged children in society such as American Eagle, Abercrombie & Fitch, and Levi Strauss. No Imitations here, Abbey is able to make a little extra cash go a long way.
Of her parents Abbey Says;
“They realize what life is about, It’s not consumerism. It’s not ‘How much does that stuff cost?’ It’s ‘Do I want it? Do I need it?’ “
Abbeys Brother Joseph got a new custom tux for $10. Who can beat that? Steve, the father of the clan, spoke of the family’s outlook on life and money as follows:
“You learn to appreciate life and people more than you appreciate stuff,” he said. “You’ve got to focus on changing the perspective. It’s not always new, it’s not always expensive that says love.”
How The Economide Way Was Founded
Twenty-six years ago, Steve and Annete were married. Before getting married they both agreed to take a financial planning course since neither had really any understanding of what goes into budgeting. Taking this step shaped their life in a way that neither could have ever foreseen. Anette said, “It started out as a game and then became fun to play.”
What Does the Economide Budget Look Like?
19 categories define Steve and Annette’s budget and it was this very budget that allowed them to pay off their first house in just nine years on a modest income of only $33,000. Even better, the home that they now own is worth an estimated $700,000 which they purchased for only $200,000 and it too is almost paid off.
Role Models For the Rest of Us
Avoiding consumer credit debt by paying with cash instead of credit, we could all stand to learn a few things from these folks. Perhaps a reality TV show featuring the Economides could do more for the economy than the federal reserve could ever do – we could learn the way of never needing payday loans.
What Are The Economides Doing Today?
Steve and Anette’s book “America’s Cheapest Family,” has spent some time on the Best sellers list with the New York Times. This has allowed them to now work from home where they are now hoping to get the message out to the rest of us poor and debt burdened civilians. The sales will mean they won’t need payday loans for awhile.
If you’re looking to decrease or eliminate your debt or reliance on borrowed money such as payday loans, you may want to pay their site a visit at www.homeeconomiser.com
I wish that Steve and Annette were around about 5 years ago to give me some advice before I racked up the huge amount of debt I have created for family. It sounds like they really know their stuff and have a lot of great ideas.
This is inspirational, if they can do it so can I.
I know it really makes want to sit down and redo my budget so I can start the new year off right.
Great article on being frugal especially now. A payday loan might jump-start your savings.