Home grocery is a basic need of every person. Besides breakfast, lunch, and dinner there are also many expenses like weekday lunches, morning coffee, and restaurant meals, etc can increase your grocery budget.
But it is possible to control your expenses. By saving, you can invest and be wealthy in the coming years.
Here USDA ‘’thrifty plan’’ for food budgeting said that one person grocery expenses are just 150$ per month. A person can easily eat a nutritionally balanced diet.
How to manage your Budget?
The simple and easiest way to manage your budget for food is to follow the rule of 50 20 30. That’s when you spend 50 percent of your monthly payments on fixed living expenses, 20 percent save and invest and 30 including restaurant meals and take-outs.
According to Bureau Labor Statistics average American household spends 12 to 13.6 percent of its income on home groceries and hangouts.
It is up to you how you manage your budget. For example, if you spend left 30 percent of your income on groceries there nothing left for other expenses like clothing, entertainment or travel.
If you are confused about how to make a start then first make adjustments according to needs.
How much should one spend on groceries?
According to USDA, a young adult man should expect to spend about $298 for a moderate diet and a young woman budget is round about $206.
Here are a few tips to spend less on the grocery. It might be helpful for you. By following these tips you can make your expenses under according to your income.
Spending on groceries includes the third biggest expense after housing and transport.
Tips to cut off your Expenses
I recommend the simple and easy ways to spend on groceries. Once you follow these tips hope you will feel easy to overcome your overspending.
1. Relate your regular and past spending
Go over your regular spending and take an idea of how much you spend daily. Keep in the notice that where and on which things you are overspending. Take a look back on your past spending and then relate them. Take a few months or weeks to track your regular spending.
In that way, you can see the accurate picture of your spending habits like on which things and where you spending most of the budget.
2. Make a list before going to buy groceries
When you go to buy groceries it is necessary to make a list of things of need. It will be easy for you to buy things. Because when you buy without a list you forget many things to buy and buy things which are not a necessity.
The other benefit of making a list is that you will buy only those things that are noted. Try to be flexible according to your shopping list. If the price of any item for example beef or fish is high these days then buy chicken in replace of beef or fish.
3. Don’t buy wastes in the sale
If you see sale labels and tags on things then buy just those items that are included in your shopping list. Don’t buy such food items that are totally useless for you with such mind that these are on sale are nothing more than just a waste of money.
4. Avoid taking kids with you
It is better to go without kids. Because kids are impulse buyers. They see things that they like and wish to have at any cost. It will increase your limited budget. If you go without them you can save your cash on unhealthy items and sugar cereals. Buy healthy diets for them of your own choice.
Go in their school time and take your time and full attention in choosing good items. Because kids also make noise and disturbance in such places that divert your attention then unconsciously such things are bought which are not needed.
As you buy clothes, shoes, and accessories with great attention and care in such cases whether it will suit your personality and your body or not. That’s exactly you need to be more careful while buying food. Whether these ingredients are healthy or not.
5. Buy certain food in larger packs
Stores offer certain foods in larger packs and small both. Prefer to buy food in larger packs. Because in larger packs offer low price than buying items single like noodles, snacks, biscuits, pasta, etc. and if you want to buy more than one than buy In larger packing.
Large packs offer less price of a single item than the original one. This act can manage your money on food.
6. Homemade items
When you go outing mostly you like to eat junk foods like burgers, fries, pasta, pizza, continental, Italian, etc. if you are good at cooking to want to manage your expenses in your fixed budget then buy these items and its ingredients from the store and cook those in the home.
In this way, you will have healthy, clean and cheap food to eat. In restaurants, these foods are more expensive while cooking at home will make it cheaper and save your money.
7. Change in permanent habits
Here “change in permanent habits’’ stands for:
- if you have fond of outing and go for an outing at least 2 to 3 times in a week then take it to once in a week.
- If you fond of eating meat a lot then try to eat twice and thrice vegetables and beans in a week. These foods have a sufficient quantity of proteins.
These different tips would surely help to manage your budget on groceries. You can choose tips of your choice which you think is easy for you to manage. I hope it will prove very helpful to overcome your overspendings.
By following these tips you can track your monthly budget in the right way and can save your money from being wasted. Try to save your money from every waste because savings can prove helpful in times of need.