Thursday, February 6, 2014

Grocery Budget 2014

It has been great that for the past few months, Mrs Y was able to get grocery shopping done during the weekdays (except when it is snowing and freezing cold). That means less waiting in line at the checkout, and way less crowded supermarkets. More time saved.

However, it has always been interesting to see what other people are buying when waiting in line at the checkouts. How people spend $$$ at a single grocery store always amazed me. Recently, we have made the decision to minimize processed/junk food consumption to keep our health in good shape. We try to control buying any kind of chips or canned items. About two years ago, we started looking at the food labels and realized many of the easy to make  microwavable dinners and frozen foods are really not good for us.  We have a budget of about $300 a month on groceries for two people.The budget used to be $200 until we got a much bigger fridge and a Costco membership.  We are trying to make a few changes to bring down our expenses. That will involve some number crunching for me in the next few weeks.

Now it is 2014. I have been tracking our spending more closely by category. I am hoping that we will spend less than $100 a month on groceries with a yearly budget of $1200. Based on the following chart I found online, the average cost of food for somebody in America is about $295 per person, meaning for a family of two, the monthly cost was roughly $600. I assumed the amount included eating out meals as well. We spent about $635 eating out in 2013. I am budgeting at $500. That will bring the total food cost to $1700 which is still much lower than $7200 shown below. We will see how we do and I will report back.



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