The following Today show video aired on the March 8, 2013 episode. It is about the Wagasky family, which consists of a mom, dad, and two children. The Wagasky family has been surviving on $14,000 per yer for the past 4 years or so. That’s what they have. So they have been making it work, at least for the time being. This family lives in Henderson, Nevada.
Dad – Jason
Mom – Danielle
Kids – Kegan and Libby
Jason was getting out of the military after serving in Iraq. He wanted to go back to school, but his G.I. Bill benefits would only cover about $14,000 per year. It was not enough for the existing living expenses plus debts.
Here’s where the big caveat comes in for this story: they dipped into savings and paid off (or at least partially paid off) their house and car. So the reason why this plan won’t work for a lot of people is because they simply don’t have the savings to get rid of their house and car payments. There always seems to be an asterisk to these stories. And that is the asterisk to this one.
The story kind of plays it off like they enjoy this lifestyle. I’m not buying it for a second. But I don’t blame them for trying to convince themselves that they are enjoying the frugal lifestyle. Maybe they are happier that way.