How much of your monthly income should go to groceries?
You can also look at your recommended grocery spending based on a percentage of your income. Try and aim to spend no more than 15% of your take home pay on food and groceries.
Residents in these states spend the most on groceries
California was at the top of the list for most expensive places to buy groceries, with the average household purchasing $297 worth of groceries per week.
U.S. consumers spent an average of 11.3 percent of their disposable personal income on food in 2022— reaching levels similar to the 1980s. The share of disposable personal income spent on food in 2022 was divided nearly equally between food at home (5.62 percent) and food away from home (5.64 percent).
The 70-20-10 budget formula divides your after-tax income into three buckets: 70% for living expenses, 20% for savings and debt, and 10% for additional savings and donations. By allocating your available income into these three distinct categories, you can better manage your money on a daily basis.
To stick to a budget of $100 a month, or $25 a week, you'll have to eat for less than $4 each day. For breakfast, try a bowl of oatmeal with half a banana and a scrambled egg, which should cost less than a dollar. Get into the habit of repackaging ingredients from dinner for lunches the next day.
The average weekly grocery budget for a single person can vary significantly depending on factors like location, dietary preferences, and income. However, a rough estimate might be between $50 to $100 per week.
| Thrifty | $241.40 – $309.90 |
|---|---|
| Low-Cost | $249.60 – $296.60 |
| Moderate Cost | $306.90 – $371.70 |
| Liberal | $400.80 – $451.80 |
Quick FAQ: What is the Average Grocery Cost Per Month in the United States? The average monthly grocery bill of a family of three in the US is $902. This assumes that the household consists of two adults and one child and follows the July 2023 Official USDA Moderate Food Plan.
Remember that you can use grocery money for future weeks in one bulk shopping trip if that will cover your food for the weeks you're drawing money from. The average food budget for a single person is between $250 and $300 a month, but that's just a guideline.
“For many, that means investing in a modest home, a reliable car, and ensuring a good education for the kids. Building a financial safety net through retirement savings and insurance is also a common priority.”
How much does the average person spend per month?
| Average Expenses of U.S. Households in 2022 and 2021 | ||
|---|---|---|
| One person | $3,693 | $44,312 |
| Family of two | $6,372 | $76,468 |
| Family of three | $7,189 | $86,265 |
| Family of four | $8,460 | $101,514 |
And, welp, if you're paying anything less than $700 per month for groceries, consider yourself thrifty. Based on the USDA's October 2023 data, the average family of four spends around $973 monthly on groceries.
The 50-30-20 rule recommends putting 50% of your money toward needs, 30% toward wants, and 20% toward savings. The savings category also includes money you will need to realize your future goals. Let's take a closer look at each category.
The idea is to divide your income into three categories, spending 50% on needs, 30% on wants, and 20% on savings. Learn more about the 50/30/20 budget rule and if it's right for you.
This budget follows the same style as the 50/30/20, but the percentages are adjusted to better fit the average American's financial situation. “70/20/10 suggests a framework of 70% of your income on essentials and discretionary spending, 20% on savings and 10% on paying off your debt.
The USDA's budget recommends spending at least $129.30 per week for two adults to meet daily nutritional needs. While you could get by eating ramen and peanut butter sandwiches for a while, scrounging like a college student indefinitely doesn't have much appeal.
* YES! It is possible to eat healthy for $200 a month. 30 Days on $200 shopping list is intended for one person.
Average Grocery Costs in Fall 2023
According to a recent GOBankingRates article, average grocery costs range from $250 to $550 per person, per month. The USDA published a food plan, updated for 2023, that shares costs for a “nu*tritious, practical, cost-effective diet” for families of any size.
1. California
At $297.72 per week on average, households in California spend more on groceries than any other state. HelpAdvisor also found that California features three out of the five most expensive cities in the US for grocery shopping.
According to the USDA guidelines, you might spend $979 a month on a thrifty plan, $1,028 on a low-cost plan, $1,252 on a moderate-cost plan and $1,604 on a liberal plan. The USDA guidelines can provide a starting point for a food budget, but they don't consider all the variables that can affect cost.
How to stretch $100 dollars for 2 weeks?
- Make a budget: Write down all your necessary expenses for the two weeks, such as food, transportation, and bills. ...
- Shop smart: Plan your meals in advance, and make a shopping list before going to the grocery store. ...
- Use coupons and discounts: Look for c.
The average two-person household can expect to spend between $510-$820 per month on groceries. The average moderate cost between these two figures is around $655 per month.
First let's talk about how much people tend to spend on this budget line. The average cost of monthly groceries for one adult on the thrifty plan ranges from $242 to $303. And when it comes to a family of four, the average cost for their monthly grocery bill is about $975.
Where I live, soap in all forms, toilet paper, paper towels, all sorts of household cleaning products, toothpaste, shampoo, nonprescription drugs…all of these count as groceries - if and only if you buy them in a store whose main business is to sell food.
Average monthly food spending: $779 (13% increase)
Average food spending increased 13% from 2021 to 2022. On average, Americans spent $779 per month on food in 2022 and $9,343 over the full year.
