Food is one of our largest regular expenses, and yet the one with the most wiggle room. Let's talk about food spending.
We've seen quite a few people who've trimmed their food budgets or stretched them to even feed large families for little cost per meal. While every family is different, when figuring out your budget and how much to set aside for food, it can help to know what others' spending is like.
The chart below shows the USDA's monthly food plans for various household sizes. These are based on meals eaten at home, with food costs estimated for nutritious diets based on MyPyramid recommendations and USDA's dietary guidelines. The BLS has a more detailed breakdown of food costs, including an average $2,625 per year or $219 a month for food away from home.
But let's hear from you. To share, please use the following format for consistency's sake:
% of your total monthly budget spent on food: You can include a dollar amount, but because food prices vary widely by area, a straight % would make comparison easier
How much you spend on groceries versus takeout/eating out: Again, you can say something like 10% of your budget is for eating out or you set aside $200 a month for dining out
Your household size
Other qualifying notes: E.g., you buy mostly organic or you clip coupons or mostly buy at Costco
What's your food budget like?
Photo by Nomad_Soul (Shutterstock).
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