A Frugal Family Reveals its Money-saving Ideas

The aptly-named Economides family from Arizona is claiming the title of “America's cheapest family.”

Annette and Steve Economides are spreading the word on how they feed a family of seven for the cheapest possible outlay.

They also advocate a return to traditional values and suggest that stretching dollars is a better savings tactic than working longer hours. They urge savers to seek a balance between family time, working, playing and helping others.

The Family's Money-saving Tips

One of the Economides’ main savings tactics is to reduce the number of trips to the supermarket or corner store. They believe that expenditure on impulse buys has a major impact on household budgets. There is also the cost of transport and the time wasted on unnecessary shopping trips. Their advice is to plan weekly or monthly household meal menus and to shop accordingly.

As an example, they describe how running out of milk can lead to a “quick” trip to the store, which may take 30 minutes or more and usually results in more than just the milk being purchased! The Economides now overcome this scenario by buying screw-top bottles of milk to freeze – making sure to pour out a little from the top to allow for expansion. They also have a spare loaf or two of bread in the freezer.

Luxury Items Impact on Saving Money

In a broader socio-economic perspective, the couple is highly critical of the high levels of personal debt in the United States. They say this is indicative of a society driven by 'instant gratification.' It's a trend they believe leads to all sorts of pressures, including family breakdown.