Everybody needs a grocery budget…but where do you start?
Every expense category needs budgeting. If you find yourself frequently over spending the grocery budget you allotted yourself, you may need to reconsider the amount and prioritize this category over other expenses. Necessities including food, shelter and transportation come first, but a Corolla can do the same job as a Bentley…for much less.
While you have a fixed amount to spend on groceries and food depending on your income and budget, you can reduce these expenses with the guidelines below. Customize the budget to fit your needs along the way.
Grocery Budget Guidelines:
- How many are you buying for?
- How often do you eat out or order delivery?
- Do you take lunch to work/school or is money allotted for daily lunches?
- If you receive a per diem, consider it part of your grocery budget. After all, it is designed to reimburse you for food purchases.
- Consider your diet. Unfortunately healthy, fresh, or organic foods tend to cost more.
- How much can you afford to spend weekly? Ensuring your weekly or daily grocery store trips fall within your budget is easier when you know your max weekly spend.
Try to reduce your budget over time. Research different stores to find out when they have weekly or monthly specials and shop on those days. At my grocery store, Tuesdays are double coupon days and Thursdays have meat sales. A word of caution: just because there’s a coupon or sale for it doesn’t mean you should buy it – make sure it’s an item you truly need and it is within your budget.
MoneyHugger 