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How do you compare with "America's Cheapest Family?"

By Michael Inbar
TODAYshow.com contributor TODAYshow.com contributor
updated 9/29/2010 9:58:28 AM ET
Share Print Font: +-As the American economy sputters and families continue to struggle mightily just to keep their heads above water, the Economides family of Arizona believe they provide a model for how to not just survive, but thrive on a tight budget.

Eschewing credit cards, car loans and home equity borrowing, the clan of seven stay solvent and then some on just $44,000 a year — and that includes owning a home in the pricey Phoenix suburb of Scottsdale.

 
tasches

Asked by tasches at 4:43 PM on Oct. 1, 2010 in Money & Work

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Answers (6)
  • We're a family of 7 thriving on $30K a year, $14K less than "America's Cheapest Family". Ha.

    "The Economides feed their brood on an average of $350 a month." We did it last month for $218.25, and the month before that it was $296.12. In July, the total for food was $253.64. We manage to eat very well, with plenty of fresh foods, including meat.

    I'd say we compare very well.

    "The key to living well for less, they say, is to search for bargains, avoid impulse buying and plan, plan, plan." I AGREE!!!
    michiganmom116

    Answer by michiganmom116 at 9:48 PM on Oct. 1, 2010

  • I have been living on just above ten thousand a year for the past three years.
    pinkdragon36

    Answer by pinkdragon36 at 4:47 PM on Oct. 1, 2010

  • We don't do that once a month shopping. Yet I still think our grocery bill is low compared to most other people.

    Anyway we also use the cash in an envelope and we agree with the no debt philosophy.
    Erica_Smerica

    Answer by Erica_Smerica at 5:01 PM on Oct. 1, 2010

  • Not really. We have debt. Mortgage, car payment, and ONE Credit card for emergencies, student loans from graduating college. We still put money away for savings, college fund, and save for retirement. We are frugal in some aspects but splurge in other aspects. We shop every week b/c I buy fresh produce and meal plan for 1 week in advance. We are only a family of three. We eat healthy goods and you cannot find coupons for fresh produce. We have to have a house and driving a dependable vehicles is a must. I like the warranties and they save money if something ever happens to the car. We do this one income-my dh. My income goes toward college fund, retirement, and savings.
    Mom2Just1

    Answer by Mom2Just1 at 5:19 PM on Oct. 1, 2010

  • i dont work but my husband has 1 loan of 2000 were paying 1 cc with a balance of 3000 but no car loan since we paid that off and our rent is paided by the military... we live nicely on 30,000 that he makes.. (and we have a family of 2.5- baby on the way)
    pinkdena

    Answer by pinkdena at 6:23 PM on Oct. 1, 2010

  • Link to full article: http://today.msnbc.msn.com/id/39416868/ns/today-money/
    tasches

    Comment by tasches (original poster) at 4:43 PM on Oct. 1, 2010

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