When you are on a fixed income trying to raise a family, OR student, OR senior, OR just a family with a low-high income... FRUGAL is the way to go. However, you don't have to have a low income to take advantage of savings and have smart Money Management. Money Management is tough for all levels of finances. Try to save as much as you can for those emergencies that come up. I always wondered why they didn't teach this in school because so many of us would be in a better predicament today.