How Much Should I Spend on Groceries?

The absolute hardest part of my budget to control is grocery spending. There, I said it. And what I’ve found from talking to others is that I’m not alone.

Hopefully the next slides will help you decide for yourself what the right level of spending is on food for your family.

While saving money on groceries is not difficult, and there are usually some easy places to cut – spending money on quality food for your family is OK!

Stop the Guilt and Money Shaming

According to the 2017 BLS Consumer Expenditure Survey, the average American spends 10.5% of their income on food.

What does the average American spend on food?

The Wealthy Nickel family of 4 has spent right at 9% of our income on food in the last 12 months, 7% on groceries and 2% on eating out.

My Personal Food Budget

The more you earn, the more you spend on food in general, and on convenience in particular.

Grocery vs. Restaurant Spending

My personal recommendation if you have an somewhat “normal” income, is that 10% of your income is a good figure to shoot for.

How much should you spend on groceries?

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Visit WealthyNickel.com to learn how to save money and invest!

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