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These kind of coupon-clipping, yard-sale, flea-market stories are always sort of depressing to me. You don't need to fill your house with somebody else's unwanted furniture to live frugally, nor do you have to eat low-grade meat close to its expiration date or dress your kids up in T-shirts with the names of defunct pop acts.

The key to keeping your head above water is simply to live below your means. Good rule of thumb is 20%. So if your family income is $50,000, live as though your family income was only $40,000. If your family income is $100,000, live as though your income was only $80,000 - and so on.

You should set up your automatic deductions in such as way that you never see that 20%. Have it go directly into a 401(k), a money market account, bonds, savings accounts, whatever you are comfortable with - but the key is to always have that 20% come out of your income no matter what. This takes discipline but once you adopt that mindset, it becomes easier as time goes on.

I'm talking pre-tax income by the way.

So what does that 20% get used for? Things like college tuition, a down payment on a new house, getting the roof repaired. But make the money hard to get to, so that you are not tempted to dip into that money for frivolous things like vacations, going out to eat, etc.

The good thing about this is that you don't have to necessarily eat Kraft Macaroni & Cheese and wear other peoples discarded clothing. As your income rises, your disposable income also rises. At the same time, that 20% you are putting away also rises. I think it is too depressing to adopt a mentality that you will always live as though you were poor (but certainly that is necessary from time to time if you keep to a strict budget).

Living below your means and saving/investing the rest is the easiest way to build wealth, however, without discipline and an honest marriage (in which both spouses are on board with the plan), it will be nearly impossible to pull off successfully.

You don't need to fill your house with somebody else's unwanted furniture to live frugally, nor do you have to eat low-grade meat close to its expiration date or dress your kids up in T-shirts with the names of defunct pop acts.

I picked up a HIGH QUALITY T-shirt with a Yamaha design a couple of days ago for FREE with Kohl's $10 coupon. I have about 40 more of those same coupons and plan to buy up about a years worth of wardrobe cheap. Oh, also got a great pair of bathing suit with the same coupon. My wife bought several pairs of socks with that coupon as well. Tonight we return to Kohl's and buy a whole bunch of other stuff for free or near free with those coupons.