Where can and How can I find a budget to live by for a family of 5 without having credit?

Question

I am a family man with 4 others in a household. My credit is POOR! I have no credit cards to live off of so I just live off of my weekly paychecks with bills coming out the you know where.... So how do I make it?!

Answer 1

You can't just "find" a budget, they're extremely specific to each family.  Some families budget for kids activities, others for weekend vacations, others to save up to buy a beach house.

Determine different categories for your spending- mortgage/rent, bills, gas, kids activities, food.  Set an amount you'll spend on each per month on your base salary without OT or bonuses.  Don't go over that amount.

I started a budget when I graduated college and within 3 years had enough saved to buy a home.  You just have to stick to it.

Answer 2

First off, having no credit cards to live off is a good thing.  Living off credit will only make things worse.  So what do you do?  

Make a list of all the bills you have. figure out each monthly amount

Total that list.  If your list of bills is larger than your bring home income in a month then you need cut back on non-necessities like eating out, or having cable or having internet service or having cell phones, find inexpensive activities like playing with the kids in the park instead of going to an amusement park.  you need to sit with ur partner and determine what can be cut.  You can go to the electric company and gas company and be put on a budget plan.  When grocery shopping use coupons, buy store brand.

Oh and if you can just put back $5 a week into a savings account eventually you will have some emergency money.

Its not fun doing without and cutting back, but in the long run it will be worth it.

Answer 3

get rid of the cable TV and internet. If there is an adult female in the household who doesn't work - have her get a job - weekends/evenings if necessary so you can be home with the kids while she works