People Magazine — The Frugals

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We were surprised when People Magazine contacted us. We aren't celebrities — never have been and never want to be.

We just want to be a family who encourages the world that living simply and frugally creates a rewarding, fulfilling and fun life. It amazes us that people in the world are amazed at our lifestyle. We have fun and laugh a lot and they just can't figure out why. Is it possible that people who have all of the stuff that the world says really matters, are missing out on the things that stuff can't buy? Things like peace, joy love and relationships?

 

Vickie Bane People Magazine in our kitchen, steve economides, becky, joe, abbey, Annette Economides
Here's a photo with Vickie Bane in our kitchen.
gregg siegal photographer, abbey, joe, becky economides
Gregg Segal (photographer) with the kids (Abbey, Joe and Becky) unloading groceries from the van

 

 

Meet the Frugals

How An Arizona Couple Raised Five Kids and Nearly Paid Off Their Home on $42,000 a Year—with Money to Spare

They have a five-bedroom house with a pool in Scottsdale, Ariz., take vacations and wear brand-name jeans: all on an average yearly income of $42,000. "All we're doing is living below our means," says Annette Economides, 47, who with husband Steve shares secrets of thriftiness in their bestseller America's Cheapest Family Gets You Right on the Money. For the past 26 years the couple have stretched their dollars by shunning credit cards, rarely dining out and paying cash even for such big-ticket items as their used '99 Ford van. The couple took a marriage prep class that emphasized budgeting, allowing Annette to homeschool their five kids—John, 25, Becky, 23, Roy, 19, Joe, 16, and Abbey, 14—while Steve worked as a graphic designer. And by making extra payments on their mortgage principal, they are close to paying off the $220,000 fixer-upper they bought in 1994. Says Steve, 51: "We stay on an even keel no matter what the economy does."

THEY SHOP FOR GROCERIES ONLY ONCE A MONTH

Armed with coupons and walkie-talkies, Annette and Steve search for sales at Bashas' supermarket in Scottsdale. Recent purchases include:

• 8 20-lb. turkeys
• 15 cans of baked beans
• 6 gallons of whole milk
• 12 loaves of bread
• 15 1-lb. packages of pasta
• 10 dozen eggs
 

HOLIDAY SAVING TIPS

GIFTS
Have kids make wish lists. "They may not get it all, but they know they'll get something they want," says Steve.

ENTERTAINING
Go potluck. "We provide a main dish, everyone else brings drinks and hors d'oeuvres."

PARTY FUN
Try a white elephant exchange: Guests wrap and bring inexpensive items from their homes. "It's regifting, but we all howl with laughter," says Annette. "Something you thought was so stupid, people are fighting over!"

CHARITY
Don't wait. "Giving is in our yearly spending plan," says Steve. One idea: The post office ships flat-rate care packages to U.S. soldiers for $10.95.
 

OTHER FRUGAL THINGS THEY DO

  • Outfits for the Family $71
  • Rehabbed a $220,000 House
  • Average Monthly Food Bill $350
  • Clipping Coupons
  • Looking for Deals
  • Freezing Future Meals

Click the link below to see all of the photos on People's web site.

People Magazine
12/15/2008
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