![]() As you can see, the figures are based on the age and gender of family members whom you feed. The chart below shows the average amount of money spent on food per person each month. The USDA’s food plans represent a healthy diet at three different price levels: Low-cost, Moderate-cost, and Liberal. Here is the average cost of food per month based on family size in 2022: How Much Should I Spend on Food Each Month? Here is the average weekly grocery bill based on family size in 2022: Department of Agriculture answered this question for me. How much should I spend on groceries? Well, It just so happens that the U.S. With the rising cost of food expenses, food budgets will continue to grow well beyond that amount. If you earn $60,000 a year, a realistic food budget would total $4,500. Which means, a realistic budget for groceries is only 7.5% of your income. Remember, that half of that amount is often spent on dining out. That includes 5.2% on dining out and the remaining 5.1% on groceries consumed at home.įinancial experts recommend budgeting 10-15% of your income on food, so if you earn $60,000 a year you want to budget $6,000 to $9,000 for home cooked meals. As I stare at my grocery receipts I can’t help but wonder, “Am I spending too much on groceries?” How Much Should I Budget for Groceries?Īccording to the United States Department of Agriculture, (USDA), the average family spends 10.3% of their income on food. The average cost of groceries is rising 10% per month. The next week I paid $50 more for similar items. One week I spent $150 for a week’s worth of basic groceries. We don’t prepare the same snacks and meals every day, so our out of pocket costs are rarely similar.Ĭan I blame rising food prices or inflation for my growing grocery bills? At one point, beef and veal prices spiked 20.2%, eggs 10.4%, and poultry 8.6%. Unlike housing and transportation costs, our food bills are variable. How much should I spend on groceries? Each time I buy food the total seems to grow.
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