© 2019 The Money Manual. Note: This website is made possible through financial relationships with some of the products and services mentioned on this site. I have easy access to Aldi and to plenty of other grocery stores, which makes it easy to find low prices.

Go ahead!

Please let me know how I can help and feel free to leave a comment or send me an email. Granted these are US averages. Plan to go to the grocery store 1 time per week, and then DO NOT go back, for any reason.

I’ve worked with many people who have done this and  been stunned by just how much they are really spending on things like eating out. CIT Bank Money Market Account - 0.60% APY, World Poverty Statistics: 23 Sobering Facts. It's also broken down into categories: New customers only. If you have a million dollar income, then 10% would equate to about $8,000 a month on food. Earnest.com suggests going with a “50/30/20” rule where 50% of your pay goes to housing, utilities, groceries, and transportation, 30% goes to non-essentials like clothing and dining out, and 20% goes to savings and paying off debt. However, all information is presented without warranty. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). Shoppers should avoid premade foods, in-store impulse traps (usually the flashy stuff at the ends of aisles), and—this last one might bite—meat. Dining should have a set budget so you don't splurge. I use this benchmark just as a gauge and don't hold myself to it if I'm over budget on groceries. Specifically, total up what you spent in the past 12 months, divide by 12, and see how you're doing against that average. And it can be hard on the budget to purchase that many items at once. It directly impacts your health (mental and physical). This helps me stay on budget and out of the stores. One really good rule of thumb is to plan to spend $100 per month, per person in your household, starting at $300 a month. For one, she makes sure to clue in her friends to her budgeting so that they can help her maintain self-accountability, especially when out and about. Of course we need to stop at Starbucks to get our caffeine each morning. So that’s $400 a month and I’ll throw in a little extra for the couple quick stops to pick up perishables like milk, so we’ll budget $450.

The average family falls under the moderate-cost. However, if you want a guide, we suggest using the USDA's Cost of Food at Home chart. At the end of the month you’ll have a much better idea of what you are spending. Much like paying rent, the best way to figure out how much to pay for a car requires a complex understanding of your financial situation each month. I am a stay at home mom to 3 kiddos.

When it comes to clothes, the external pressures of fashion and practicality can pull you in diverging directions, making shopping for what to wear a high-stress activity. For those of us who live in the city and use public transit every day, paying for a car might not be a relevant expense.

All Rights Reserved. Personally, we break it down by groceries and entertainment. Wish I had $200 or more a month to spend on groceries. I came across a web site a couple of weeks ago that may be helpful in determining what is an appropriate amount to spend on groceries.

Don’t have time to do it or figure out how to do it? They will be delicious and budget friendly AND done for you. To look at it another way, a family of 4 should plan to spend $100 per week on groceries, or a total of $400 per month. Save my name, email, and website in this browser for the next time I comment. Food spending has increased dramatically recently.

Meal planning is great for saving time, but, ideally, it should save you money, too. I know this can be hard for moms, but it works. But, if you learn some tricks for keeping your grocery bill down, you can save money and lower your monthly budget. Is it due to the recovering economy or are prices getting out of hand? Subscribe for Check the weekly mailers for the local stores and see which stores have the best deals on the items.

Your monthly expenditures include more eating out than eating at home.

That’s a trickier question. using the USDA numbers, which you can access right here. Rotate the food in your pantry so that everything gets used before it expires. You’ll probably have a hard time making it on that. What about things like toiletries?

Then there is going out to eat for lunch a few times a week. Many budget programs will give you a target percentage of your budget for food. How much should you spend on groceries? Typically I’ve seen something in the range of 10-15%. Did that number freak you out? Lendkey advocates for paying a fixed amount for rent each month. By the same token if you are making $20,000 a year that will equate to about $160 a month for food. When deciding how much you should spend on food, it can help to know that a person’s average spend on food in the UK is £38.50 per week or £166.8 per month, … It’s simply unavoidable. Of course, factors like income and location come into play. I promise, it works! But if you are new to this, try one week at a time. But smarter spending begins even before you head into the store. Everything else is fluff. One of the pages they publish gives suggested food budgets broken down by age and by size of family. The thrifty food budget for a family of two under 50 years old is $387.40 per month; the liberal food plan budget is $767.70 for that same two-person family as of August 2019. We'll multiply your entries by 10 if you let us know more about you. You are way over the average reported spending. It's all about balance. Creditdonkey.com has a useful chart for what to spend on monthly car payments based on your income level, but essentially, they advise that you not spend more than 20% of your income on a car. †Advertiser Disclosure: Many of the offers that appear on this site are from companies from which CreditDonkey receives compensation. The USDA has an entire web site with various food guidelines. If you just want a quick gut check, take a look at your past food spending.

If you’re spending more or less than that, it might not mean anything, because everyone’s situation is different, but you might want to look at your other spending categories to see if there’s some imbalance. The thrifty food budget for a family of two under 50 years old is $387.40 per month; the liberal food plan budget is $767.70 for that same two-person family as of August 2019. Eating at home or out both qualify as food expenses.
CreditDonkey is not a substitute for, and should not be used as, professional legal, credit or financial advice. Here you'll find amounts for each family size, breaking it down by ages. Spending on food is probably one of the most basic and important expenses you incur every month. You help support CreditDonkey by reading our website and using our links.

If you really want to learn how to cut down your grocery bill, I highly recommend you check out Erin Chase’s Grocery Budget Makeover.

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