One of the greatest weaknesses of most Nigerian family economy is lack of visionary projection on the use of her meager income. Family budget prevents impulse spending, thus allocates future family income to known needs. The purpose of the study was to determine the extent family budget was used to revitalize family economy for sustainable economic development in Nigeria. Three research questions were answered by the study while three null hypotheses were formulated and tested. The study adopted survey research design. The population for the study was 240 lecturers of 12 Colleges of education in Nigeria. The instrument for data collection was a structured 32-item questionnaire which was validated by three experts. The instrument was structured on 5-point rating scale in which the bench mark for acceptance value was 3.50 and above. The reliability of the instrument was established using Cronbach alpha which gave a reliability coefficient of 0.84. The data collected were analyzed using mean to answer the research questions, while t-test statistics was used for testing the hypotheses at 0.05 level of significance. From the data analyzed, the result of the study showed that the extent to which families employ family budget in revitalizing family economy is considerably low. In addition, the study identified 12 factors hindering the use of family budget and 9 strategies that could be adopted to improve the use of family budget in revitalizing family economy for sustainable economic development in Nigeria. Based on these findings, the study among others recommended that periodic community sensitization workshops and seminars on the use of family budget be adopted to invigorate its use in revitalizing family economy for sustainable economic development in Nigeria.