I read this on a forum several years ago and stopped using fertilizer on my lawn. Now, 2 or 3 times per year in the summer months, I spread alfalfa pellets across the lawn (bought at local feed store - typically used as rabbit food). The lawn seems to do very well with it. I throw some in my garden too.
With fertilizer costs supposedly much higher, you may want to consider this as a cost savings change as well. I originally did it simply to keep chemicals out of my yard. The pellets are cheap, fertilizer was already expensive years ago.
