Have you seen all the publicity on “America’s Cheapest Family”? It’s about a family of 7 living in Arizona and surviving on an annual income of $44,000. Their lifestyle though is unbelievable.

Steve and Annette Economides have been so successful in living such a frugal lifestyle that they now have a book on the N.Y. Times Bestseller list titled, “Americas Cheapest Family”.

Their $44,000 income allows them to live in a nice, large home and do so without buying anything on credit.

The total monthly food bill for this family of 7? A meager $350. All their meals are planned in advance and they use coupons and look for specials.

They paid off their first house in only 9 years and are now into their second home that is valued at over $700,000. According to the couple this mortgage is nearly paid off as well.

They do not use credit cards or have any vehicles financed. They have late-model used cars that were paid with cash. They say they also have a budgeted amount set aside for car and home repairs.

While I applaud the Economides principles and ability to stay out of debt during a time when being deep in debt seems to be the American way, I think there is more to this than meets the eye. I’d like to know if the kids have jobs and contribute to the family budget? Are they getting government food stamps and other aid?

They are certainly getting some major income tax deductions and credits. I’ve not read the book yet, but this is definitely an interesting story. I can see a reality TV series coming from this. Which family can live the most frugal lifestyle…winner gets a new home, etc.