How Much to Spend on Food Per Month
The Average Food Cost Per Month Will Surprise You
No matter what you do or what your job is, something everyone has in common is that we all eat every day. However, have you ever wondered how much we spend on food? There may not be an exact figure, as it will depend on many factors, such as eating habits, gender, weight, and even location. What is a fact is that a large percentage of our resources are allocated to food and having a daily estimate can be very useful to keep our finances intact. The average food cost per monthdepends also on age group, inflation, number of people in the family, budget, and preferences; among other variables.
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How Much Do We Spend On Food Each Month?
The higher the household spends on expenses, the lower the budget on food. You have to learn how to cut expenses, so you can strengthen your food budget. It is estimated that people allocate around 30 percent of their income to personal expenses on food and beverages. However, this does not mean that people are doing it in the best way, that is why below we present some tips that will help you identify your food expenses, but will also allow you to save extra money.
What Is a Monthly Budget?
The monthly budget is the money that you have put aside or should have earmarked for certain expenses. When you live alone, you should even have a budget for everything you need so that the money you receive is not less than what you are spending. All this is about planning how much you are going to spend from the money you earn, allocating a certain amount for food, clothing, rent, payment of services, etc.
In general, for everything you need to buy, when you live alone, it is a little easier to do. Everything gets complicated when you have to distribute that budget so that it works between two or more people. Even if you have children, you should organize this budget much better.
The Average Household Budget
In the United States, the budget for average households seems to be on the decline for the cost of food. In the 1900s, American families were accustomed to spending roughly 40% of their paychecks on food. Fifty years later, this amount decreased to less than 30%. The U.S. Bureau of Labor Statistics has revisited this data in 2013 and has it at 10%. In the same year, the department has documented an average cost of food in the amount of $6,602 per year for American households, which works out to be about $2,641 per year for each person in the average household.
For each month, the average U.S. household spends about $550 per month on food.
Average Cost of Food
There are certain types of items of food that can put a dent in your budget. Most of these do not even fall into the traditional food groups. Americans spend almost 6% on sodas and other non-alcoholic drinks like coffee, colas and tea, sports drinks, bottled water, and fruit drinks. Americans also spend a lot on canned goods. Let us break down some monthly costs of food:
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For non-alcoholic beverages - $384
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Fresh fruits - $270
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Canned goods - $255
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Cheese - $125
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Nuts - $45
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Butter - $24
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Fresh vegetables - $236
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Poultry and Pork - $170
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Beef - $219
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Eggs - $56
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Cookies - $49
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Canned soup - $45
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Cereals - $94
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Frozen foods already prepared - $130
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Baked products - $165
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Milk – $152
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Sugar and sweets - $143
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Condiments and seasonings - $138
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Processed vegetables - $130
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Bread - $106
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Fish and seafood - $122
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Chips and snacks - $115
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Fats and oil - $117
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Pasta, flour and rice - $91
The average household spends 60% on meals and snacks ate at home ($2667) and the remaining 49% of food away from home ($3,935).
What Should You Include in the Monthly Food Budget?
To know how much you are going to spend monthly on food, it is essential that you have a good idea of what you are going to buy. The idea is to choose the basic products you need to eat properly.
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Make a list of your food expenses for a month. Count everything, right down to your morning coffee, lunches with your coworkers, and the pizza you ordered when you were too tired to cook. This will give you a good idea of how much you spend.
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Once you have calculated the total of your monthly expenses, you can see where you can cut those expenses, such as eating out less, or where you want to spend more money, such as deciding whether to buy organic food for health reasons.
Here is a small basic list of the foods that are most needed in a family basket, for two people, and even, if it is only for one person.
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Rice
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Salt
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Sugar
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Fruits and vegetables
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Oil
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Eggs
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Dairy products
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Meat and chicken
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Beans, lentils, peas
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Cereals
Certain produce and items at the grocery store are seasonal. When they are out of season, they tend to be more expensive.
In other words, when the demand is greater than the supply, in one month where you used to spend $250 on groceries, you might end up spending $400 instead.
Tips for cutting food expenses
Once you have a goal for your budget, start looking for ways to control food costs:
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Coupons are an obvious answer. There are coupon websites that give you a tutorial on how to get started.
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However, many people do not want to bother clipping coupons. Instead, they want to shop for deals at their local stores. If you find a good deal on something you consume all the time, stock up on it.
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Go to your local farmers market to find fresh produce; it is often cheaper than supermarkets.
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If you want the best prices, buy at the end of the day.
Once you know exactly how much you spend per month, you can always find creative ways to cut costs.
Going Shopping
Eating Healthy
When shopping for food, make sure you take a list to the supermarket. It may seem irrelevant, but it will help you buy the products you really need and avoid falling into temptations. Never go to the grocery store when you are hungry either. You will end up buying things that you feel like having at that particular time instead of what you really should buy.
Eating healthy is eating cheap: there is a false idea that eating healthy is more expensive, but it is not necessarily a rule. Have you ever wondered how much fast food costs? You will be surprised to see that with the same fast-food budget, you can put together a healthy menu in which you will not only save money but also a few calories.
Monthly Food budget for Two People
Some people may spend more or less depending on the quality and quantity of food they buy monthly. In addition, the type of food you consume greatly influences your budget, and if you base it only on essential products, you will potentially save. If you consume other unnecessary or 'luxury' products such as chocolates, wines, prepared lasagna, among others, your budget will increase.
This, not counting the fact that in countries like the United States and London the people who live together tend to eat repeatedly in restaurants and food trucks. This will cause the values of the food budget to rise to more than 50% of its real value. This is one way to maintain the average food cost per month.
Two people can spend between $300 and $700 a month on food. Of course, all this will also depend on the grocery store where you buy the food (obviously, in large chain stores the values are higher in comparison to small stores).
Menu Control
Schedule your week on what you will cook so that you can keep a weekly control of your menu. It is useful to provide a variety of meals, but eat a balanced meal so you do not overeat and in doing so, you will better control your expenses. For carbohydrates, include vegetables; and starchy carbohydrates like rice and protein. If you buy organic, it will cost you a little more. For example, if you shopped for organic produce, you are likely to spend $70 (depending on the amount), but if not organic, you would probably only spend $40.
Brand Names
Do not marry brands. Many of us have identified with a particular brand, either because of its quality, price, or simply because we like it. However, it is highly recommended to compare prices and articles of those products that could become substitutes. You will probably be in for a big surprise and fall in love with some new product that is not necessarily a brand name.
Tips for Keeping a Complete and Accessible Monthly Food Budget
If you follow these tips correctly, you will be able to eat very well and at the same time stay within the budget that you have set. You can even indulge in certain luxuries to eat something different every day.
Do not eat daily in restaurants
We know that eating out is convenient, especially when you do not want to cook at home, or you want to have something prepared by another person. If you eat out on a frequent basis, this only adds to your monthly budget. While you want to save time from cooking at home, you also have to consider the money you are spending on dining out. You should be aware that the price of a single meal in a restaurant is equivalent to a day and a half, even 2 days of full meals for two or more people. Instead of eating out at a restaurant during your lunch hour, it is best to bring leftovers from home. This is a huge savings. Do not try to stand with the crowd of employees who constantly invite you out to lunch. You are the only one who knows your budget and if you have a family to think about, it is best to turn down the invitation from time to time.
Sometimes, it is unavoidable to eat in restaurants, inns, or in diners on the corner. It is not bad to indulge yourself from time to time, but you should not abuse it. In this way, you will take better control of your finances and save money. Remember that a single meal can cost you between $80 and $120 and so, it may be convenient to use those funds at the supermarket instead.
Don't Buy Unnecessary Things
Try to avoid buying things that you do not necessarily need or that are not healthy for you. This includes fried foods, sodas, liqueurs, processed foods, and canned goods. Sometimes you can do it, but if it becomes a habit, your budget will suffer.
Don't Waste Food
This is perhaps one of the most important points. Try not to waste food. If you use up the food wisely, then the following month, you will have a reserve of some foods that you will not have to buy again. In addition, that money will help you save or invest in something you need or want to buy.
Conclusion
These money saving tips are aimed at motivating you to take better control of your average food cost per month. When you do it correctly, this will allow you to control your finances, organize and save money. It does not matter whether you do it through an application, doing it online, or simply have your accounts and products listed in a notebook. Remember that the important thing is to estimate a daily, weekly, or monthly average and above all, that it does not exceed 30 percent of your income.
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How Much to Spend on Food Per Month
Source: https://www.billry.com/blog/average-food-cost-per-month