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Is being frugal really worth it?

How far would you go to save money this holiday season?The Economides, a.k.a. America’s cheapest family, joined TODAY this morning to share their frugal gift ideas. Some sound great, like baking pumpkin bread. But making a wreath out of 50 plastic grocery bags? Would you do that? As dad Steve Economides points out, it’s not smart to go into debt for holiday gifts. But most of us have to weigh

How far would you go to save money this holiday season?

The Economides, a.k.a. America’s cheapest family, joined TODAY this morning to share their frugal gift ideas. Some sound great, like baking pumpkin bread. But making a wreath out of 50 plastic grocery bags? Would you do that?

 As dad Steve Economides points out, it’s not smart to go into debt for holiday gifts. But most of us have to weigh money saved against time spent. If it takes an hour to save $5 or $10, is it worth it? 

Of course it’s the thought that counts, and homemade gifts are always really thoughtful, but I’m not sure I’d be so thrilled if someone gifted me a wreath made of recycled plastic bags – sorry, Economides family!

What do you think of their money-saving tips, and what are your own best ideas for gifts that don't break the bank? Have you ever given up a frugal holiday tradition – like baking gifts or making handmade presents – because you simply didn’t have the time?