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We've done a lot of interviews with a lot of producers. Most of them don't understand the real benefits of the frugal life. But the producer for this segment, Nicole Ullerich, really does. It was really refreshing to see her thinking through how she could apply some of the tips we shared with her so that she could save even more money each month. Go get 'em Nicole - you rock!
This is the whole crew at Savers Thrift store. Left to Right: Becky, Nicole, Annette, Abbey, Joe (in back) Jim Kent, Joe (sound guy) and Steve
Here's the spot Nicole wrote.
Meet the Frugals . . . America's Cheapest Family.
Steve and Annette Economides (yes that's their real name) feed their family of six for $350 a month, pay cash for cars, and they have nearly paid off their five-bedroom home in Scottsdale, Arizona.
Annette explains how our budgeting system works. You can read about it in our book in the Budget Chapter. It is the most effective tool to make our money last longer than most people.
Incredibly, they do it on an income of just $46,000 a year! How is that possible?
"Planning ahead and trying to get the best quality for the best price," explains Annette.
That planning starts at the grocery store. Using a chart, the Economides mark off what they need. The shopping list eliminates impulse buying.
Next, it's divide and conquer. Annette and Steve stay in touch by walkie-talkie. Aided by coupons, Annette tackles the aisles and Steve works the perimeter. It's like a military operation.
Their two top rules are 1) buy in bulk and 2) never pay full price.
Among the great deals they found when INSIDE EDITION went shopping with them were a $5 box of cereal that with a coupon was only $1.50, and steak that was five days away from expiring. It was marked six dollars off.
The Economides bought six containers of milk, because buying more than one saves cash. To keep the milk fresh, they freeze it.
The family also saves thousands of dollars buying secondhand clothes at thrift stores, like Savers.
Abbey tells Nicole about all of her brand name clothes.
Steve tried on a sport jacket from Macy's that was only $19.99. Their daughter Abbey modeled a cute black pantsuit priced at only $9.99. The Economides are now sharing all their saving secrets in their book called America's Cheapest Family Gets You Right On The Money.
They say it's proof that living a frugal lifestyle really does pay.
Here's the video from Inside Edition:
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