Here is how much you should be budgeting for groceries every month (2024)

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Here is how much you should be budgeting for groceries every month? ›

As of March 2024, the USDA recommends a family of four on a thrifty budget spend $976.60 monthly and $1,585.20 for a liberal budget. On average, across the four food plans, the monthly budget recommendation has risen 27% since the start of 2020.

The grocery budget includes anything you could find at a neighborhood grocery store. We're not talking Costco or Super Walmart where you can buy anything from dog food, to bed sets, to coffins, and lawnmowers. We're talking your standard, neighborhood grocery store.

The average cost of food at home for a family of four, according to the United States Department of Agriculture (USDA), ranges from $567 to $1,296 per month, which comes out to approximately $130 to $300 per week.

How much each household spends on food varies based on income and how many people need to be fed. Consider using our budget calculator if you're not sure where to start. Try allocating 10% of your income to food as a starting point and then you can increase from there.

The average family spends about $270 at the grocery store per week, but that number increases when children are taken into account. Families with kids spend an average of $331 a week on groceries or 41% more than families without kids.

Average grocery cost per month for 1 person in a household

Considering the Thrifty and Liberal plan averages, the monthly grocery cost for an adult male falls between $275.63 and $434.33, while the average for an adult female ranges from $238.46 to $384.93.

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.

Depending on how much you earn, what people actually spend on all food (groceries and dining out) ranges from about 10-16% of your income, according to government research. You can build your own grocery spending budget to get good nutrition for any size family by using the USDA guidelines and cost analysis.

Clothing and Personal Upkeep

The average U.S. household spends $162 per month on clothing, according to the U.S. Department of Labor, and you'll probably want to include personal grooming costs as well as any dry cleaning in this budget category.

How much should you save a month? ›

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.

On average, a family of five spends anywhere from $922 to $1,488 a month on groceries, according to USDA monthly food plans. If you're looking to curb your spending, consider meal planning, buying in bulk, and shopping at more affordable grocery stores.

Inwood, Manhattan

Manhattan's northernmost neighborhood is also the cheapest place to live in NYC. Bordered by the Hudson River and Spuyten Duyvil Creek, Inwood has a strong community, plenty of cultural attractions, and a delicious dining scene.

Budget $100 a month per person:

While this is a good starting point, there are two exceptions to this rule in general. First, for a single-person household, consider budgeting $200 per month. Second, for a two-person household, consider $300 per month.

What Is the Cheapest Area to Live in NYC? Most people consider the Bronx to be the cheapest area in NYC. We like the Bronx because it puts you close enough to Manhattan that you still feel part of the action.

The average food budget for a single person is between $250 and $300 a month, but that's just a guideline. If you can buy meals at a discount or visit family and eat with them, you might be able to spend less. Figure out the budget that works for you.

What's a reasonable food budget? Many financial advisors and gurus recommend spending no more than 10%-15% of take-home pay on food, a figure that includes restaurant dining and takeout.

The 6-to-1 Grocery Method is a basic calculation (we're talking elementary-level math, basically counting), to plan your weekly grocery shop. Here's the system: Fill your grocery cart with six vegetables, five fruits, four proteins, three starches, two sauces or spreads, and one "fun" item for yourself.

According to the most recent data released from the Household Pulse Survey, American households spend an average of $270 on groceries a week. Broken down by household size: One person - $156.02. Two people - $220.82.