America's Cheapest Family: "We Are the Hope and Change of America"

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Meet America's Cheapest Family, the Economides of Arizona. This family of seven are debt-free—and even save money!—earning $44,000, before taxes, each year. The entire family spends about $350 every month on groceries—including toiletries, paper goods, personal products, and cleaning supplies. But living on a budget doesn't mean making extreme sacrifices. Their kids wear designer labels—many of which are sourced from thrift stores, they say in the above clip—and they eat healthy, nutritious meals.

“We are the hope and change of America,” family matriarch Annette Economides told Matt Lauer Wednesday, as her husband, Steve, and daughters Abbey, 16, and Becky, 26, looked on. “With the unemployment rate where it is today, I believe that our books can allow families to not have to live on two incomes.”