America’s Cheapest Family

I came across a website detailing how a family of 7 live debt free on $44,000 a year. Their names are Steve and Annette Economides and they call themselves America’s Cheapest Family. They budget all of their expenses and stretch each dollar as far as possible. They plan food menus around coupons and discounts. Their children are able to buy designer clothing for pennies on the dollar for what most of us pay. The Economides have been featured on ABC News, Fox News, MSNBC and US News & World Report. Here are a few stunning facts about America’s Cheapest Family:

- Their average monthly grocery store bill is $350.

- The average money spent on Christmas gifts is $90.

- They paid off their 1st house in 9 years on a $33,000 salary.

- Their average income was $44,000 over the past 26 years.

- They never use credit and pay cash for all cars and purchases.

It is incredible that 7 people can live debt free on such a small amount of money. This illustrates that it doesn’t take large sums of money to be financially stable. With a little planning, patience and a willingness to save we can all be debt free. I think that stories like this are inspirational and give hope to us all. You can visit America’s Cheapest Family’s website by clicking here.