Budgeting for a Family of 5?

What an interesting question. That totally depends on the family, where you live, and the lifestyle you wish to stay accustomed to. Personally, I have a family of eight, with one child in college (we pay $3,000 a year on top of schlorships, grants, etc. for her). We live on approx. $36,000 a year gross (only my husband works). But, the majority of that goes for housing. We have chosen to use use the best possible house we can (roughly $18,000 a year for it...very nice!!!), drive used cars, and live off of the free things we get off line, my being very frugil and second hand stores/garage sales/flea markets. I can feed our family on $30 a week and we don't eat junk! I am also told my children dress better than everyone else, and I have the largest house in a brand new development. We live in Texas

In other words, there is no set amount on what you spend. I am of the opinion that the more you make, the more you spend! When I quit working twenty years ago we were making $60,000 a year for just my husband and I, and in such bad debt we filed bankruptcy. Last year, we also took in a friends children (five more...so eleven counting mine) and no help with money, or government assistance on that same $36,000. This year my husband has started a small home business and so we might make an additional $10,000 this year! However, we are spending it I am sorry to say, rather than saving...which, at least in our case, proves my point of you spend what you make.

I say you decide what is important to you, what you are willing to live with/without, and then you can live in that amount!

WOW!!! $30 per week to feed the whole family is just amazing. Could you possibly give an example of your shopping list/menus? That's just incredible...I'd love to be able to cut my food shopping so drastically.

We have five, but the two oldest feed themselves a lot. We allocate $450 per month for food. This includes toiletries, household cleaners, etc. as well as any eating out.

We host many teen events and provide snacks or meals often each week. That's a priority to us--it draws the teens here and keeps us in the know.

Yes, I'd like to see that shopping list too! :) Please post it!

Keba

July 19, 20070 found this helpful

Check out www.hillbillyhousewife.com if you're looking to eat good food for not a lot of money. Her website is amazing.

I try to keep my spending to $75 per week on AVERAGE. Last week I spent more, because there was a meat sale I stocked up on. This week was only $40. This is for a family of 5 and 3 pets.