In this article, we’ll discuss the important topic of: “How Much Should You Spend A Week on Food?”
Overview
Are you someone who does not have a dedicated budget for food expenditure? After the cost of a stay, food takes up a considerable amount from your earnings. And if you are someone who likes to experiment with food and usually go for eat-outs, that can be a severe threat to managing your budget.
It is always recommended to allot a budget for your food expenditure to prepare for a larger goal or spend on something you have long desired. But the calculation is not the same for all. It can vary with a person’s earnings, choices, and lifestyle.
In this article, we will discuss how much you should be spending on food in a week.
How Much Should You Spend A Week on Food?
A normal American spends almost 1/3rd of their income on food. However, food is a personal and individual thing that one has to decide depending on multiple factors. So how much is optimum for an American to spend on food?
There are, however, a lot of guidelines and resources that will tell you where you should start. But beyond that is up to an individual to decide how much amount is to be spent on themselves and their families for food. It is okay to spend $35 to $70 per week on food. But various factors are also involved.
Let us look at the various factors that determine food expenditure in a week for an American.
Factors Deciding the Spending on Food in A Week
Income
The most crucial factor to consider is the household income. A survey of 2017 shows that out of $73,573 pretax income, $7,729 was spent on food, which makes it the 3rd largest expenditure after housing and transport. Amongst this too $4,363 was spent on home-cooked meals, and $ 3,365 was spent on eating outside.
Beyond this, too, there is further spending allocated depending on the income levels. For instance, the lowest income band had spent $3,938 on food annually. At the same time, the highest income band spent around $16,309.
But it is not always the average spent. This also indicated that it’s essential to create a budget for groceries or food depending on the individual or household income.
Preference
Are you someone who likes eating a lot of fast food or someone who often likes to have a fine dine experience? It all depends on your choices. For instance, when they cook one meal at home, it usually gets carried away to the next meal. That means there is a saving of one meal if you are planning to cook at home.
Taste
Similar to preference, taste too plays a vital role. The expensive food like lobster, meat, fettuccine will cost you more than regular and seasonal fruits, vegetables, bread, noodles, etc. Therefore, depending on what you wish to eat and how often you wish to eat determines the expenditure.
Special Needs/Requirement
This depends on any special needs or requirements that you may be considering to integrate into your life.
For instance, if you follow a particular lifestyle or under a specific treatment that needs special attention to your meals, it will affect the expenditure. If you are trying to eat only organic or vegan meals or trying to gain a healthy weight, the meals can be slightly more expensive than the other ordinary, regular meals.
Family Size
This is again a no-brainer. The more the number of people in the family, the higher is the food expenditure. In the survey of 2017, a two-member family’s food expenditure was $7,865.
But then there was another member who added the amount spent was increased to $9,019. Therefore, the amount spent is exponential when we keep adding members to the family.
Location
When you live in the city, it is obvious that the food expenses will be higher than if you live in the suburbs. Also, it has been noticed that in America, the food expenses are higher in the west, followed by the Northeast, then the Midwest, and finally the south.
Ways of Spending Less on Your Food Budget
An average American spends $150 to $300 on food per month for a person. However, there are ways in which you can reduce the budget of the food expenses.
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By Using Coupons
There are coupons available in the mail, on google search, in your inbox, etc. You can collect those coupons and get a hefty discount on your next grocery shopping from the store or online.
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Freeze the Food
Fresh food often goes bad if not properly preserved. An easy way of doing it is freezing the perishable food items not to go on a frequent trip to the grocery store.
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Plan Your Next Meal Ahead
It’s often observed that people tend to eat out when they do not have the next meal ready. Therefore, not just for the next meal, you can plan your meals for the entire week
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Shop at Affordable or Convenient Stores
You can save a lot of money by shopping at dollar stores or convenience stores. Also, buying bulk items with a longer shelf life will cost you less than buying individual items.
Final Thoughts
Although the calculation looks simply, it is difficult to suggest one amount to all individuals. However, considering all the above factors, we would say that $35 to $70 is a good amount spent on food per week. To keep track of your budget, you should consider the above guidelines, and we are sure it will help you. You understand the needs of your family and yourself best, therefore consider wisely.
Video
Although you will find multiple videos on the internet that will tell you how much you should spend on your food, a video might help.
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