How Much Should I Spend on Groceries? (2024)

FAQs

What is a reasonable amount to spend on groceries? ›

For a low-cost budget for a family of four, you can plan on spending $234.10 a week or between $936.40 and $1,014 a month. Moderate-cost plan. For a moderate budget for a family of four, you would spend $291.50 a week for groceries or between $1,166 and $1,263.5 a month.

Feeding Two Adults

Here are the USDA weekly grocery spending guidelines for households with one adult female and one adult male: Thrifty: $119.40. Low-cost: $122.90.

If you're looking for a rule of thumb, I'd say if your grocery spending is under $1,000 per month for a family of 4 with older kids you're doing ok. Based upon the data, you could also say that food shouldn't be more than 10% of your income unless you're earning less than median household income.

For a family of four in 2022, your spending on groceries should fall between $875 – $1,287 a month. 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.

You might ask, “is $300 a month enough for food?” With pre-planning and small kids, the answer is YES. Here is our monthly sample shopping meal plan: 1st week: The biggest shopping week for us.

Single adults: $59 – $91 per week, or $236 – $364 per month.

If you're a single adult, depending on your age and sex (the USDA estimates are higher for men and lower for both women and men 71 and older), look to spend between $229 and $419 each month on groceries. For a two-adult household, the figure above will double: $458 to $838.

To determine a weekly allowance amount, take your discretionary spending amount each month and divide it by four. That amount will be how much you can spend each week without blowing your overall budget—while still getting to indulge in some things you want.

The average cost of food per month for one person ranges from $150 to $300, depending on age. However, these national averages vary based on where you live and the quality of your food purchases. Here's a monthly grocery budget for the average family.

In the United States, the monthly cost of feeding one person is about $342.11. The average cost of food per day per person is $11.04.

How do people live on 100 a week for groceries? ›

USDA Food Plan Spending for a Family of Two

For a family of two, with one male and one female age 19-50 — 20-50 for the thrifty plan — here's the breakdown of monthly costs for each type of food plan: Thrifty: $594. Low-cost: $604.89. Moderate-cost: $750.42.

The most recent estimate for a family of four, defined as a male and female between ages 20 and 50 and two children, ages 6 to 8 and 9 to 11, put the cost of the thrifty plan at $967 per month.

The USDA puts the average weekly cost of food at home for a family of two at $150 a week, or $600 per month (and that's on their moderate cost food plan!). Cue the sigh of relief and feeling a little less guilt if you're eyeing your current grocery spending.

$15–20 per day is a good ballpark allowing you to afford a healthy diet. . How much money do you spend on food every single day?

At least 20% of your income should go towards savings. Meanwhile, another 50% (maximum) should go toward necessities, while 30% goes toward discretionary items. This is called the 50/30/20 rule of thumb, and it provides a quick and easy way for you to budget your money.

How do I budget for 2 groceries? ›

For example, an American family of 2 spends between $250 and $400 a month on food expenses. If you have no family obligations, you just have to divide by 2 to get an idea of the money you will have to spend to eat as an individual. A grocery budget for 2 can be scaled back if you know how to shop.

Next year, U.S. shoppers anticipate spending 14% more on average per month for their groceries, according to the KPMG Consumer Pulse Survey 2022 Grocery Forecast. Based on a poll of more than 1,000 consumers, the average monthly grocery spend is pegged at $611 for 2022 versus $532 in 2021, KPMG's report said.

The 50/30/20 rule is a simple way to budget that doesn't involve a lot of detail and may work for some. That rule suggests you should spend 50% of your after-tax pay on needs, 30% on wants, and 20% on savings and paying off debt.

Middle class: Pay yourself first 5-10% of your gross income. Rich: Pay yourself first 15-20% of your gross income. Rich enough to retire early: Pay yourself first at least 20% of your gross income.

Getting to 20% — An Example

Let's say you make $1,200 every two weeks. After taxes, it's $1,000. Your savings goal should be 20% of net (after-tax) income, or $200 from every paycheck.

The average American person – man, woman, or child – spends just below $3 per meal on food, assuming three meals per day for food consumption. If the average family can lower that cost to $1 per meal, that's literally hundreds of dollars a month in savings.

The Average Cost of Groceries Per Month

According to 2019 data from the Bureau of Labor Statistics, the average spending on food at home is $4,643 annually or about $386.92 per month for U.S. households.

What foods last longest? ›

Is eating healthy really more expensive? It's a common belief that eating healthy is too expensive. In 2013, the Harvard School of Public Health analyzed 27 studies and found that it cost an average of $1.50 more per day to eat healthy.

One of the most common percentage-based budgets is the 50/30/20 rule. 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.

$229-$419 depending on age and gender. Men and younger people have a higher average. For a household with two people, the average grocery bill doubles to $458-$838. If a household consists of one adult and one child their bill is likely less than a household with two adults.

$15–20 per day is a good ballpark allowing you to afford a healthy diet. .

Do you know the Rule of 72? It's an easy way to calculate just how long it's going to take for your money to double. Just take the number 72 and divide it by the interest rate you hope to earn. That number gives you the approximate number of years it will take for your investment to double.

How much savings should I have at 40? ›

You may be starting to think about your retirement goals more seriously. By age 40, you should have saved a little over $175,000 if you're earning an average salary and follow the general guideline that you should have saved about three times your salary by that time.

So, to answer the question, we believe having one to one-and-a-half times your income saved for retirement by age 35 is a reasonable target. It's an attainable goal for someone who starts saving at age 25. For example, a 35-year-old earning $60,000 would be on track if she's saved about $60,000 to $90,000.

If you're a single adult, depending on your age and sex (the USDA estimates are higher for men and lower for both women and men 71 and older), look to spend between $229 and $419 each month on groceries. For a two-adult household, the figure above will double: $458 to $838.

With consumer prices at a 40-year high, savvy consumers know they have to put more work into their shopping if they want to save a buck. But when it comes to food, you'll generally save money — and enjoy better nutrition — eating at home than dining out. Copyright 2023 Nexstar Media Inc.

Try increasing your use of eggs, beans, seeds, frozen fruits and vegetables, cheaper cuts of meat, and whole grains. These all taste great, are cheap (especially in bulk), and are very nutritious. Incorporating more inexpensive yet nutrient-rich foods into your daily routine will help you save money and eat well.