![]() It can cost a lot more to eat out than to eat at home. With so many restaurants and fast-food places closed or offering only takeout or delivery in 2020, that reversal made sense. The COVID-19 pandemic, however, caused a reversal in this trend: During 2020, food eaten at home accounted for 51.9% of total food-related spending (the first year over 50% since 2008). Since the Great Recession, Americans have used more of their income on away-from-home food spending every year until 2020. The USDA divides spending into two categories:įood-at-home spending, which includes food purchased atįood-away-from-home spending, comprising food purchased at consumers spent a national average of 8.6% of their disposable personal income on food, with 5% going to food eaten at home and 3.6% to dining out. Department of Agriculture, Americans spent $1.77 trillion on food in 2019, and prices at the grocery store rose 3.5% in 2020 compared to the previous year. The cost of food can be divided into categories, such as money spent on your grocery bill, dining out, money you spend on growing your own healthy food, and buying food at convenience stores.Īccording to the U.S. Planning your meals, creating a grocery list, shopping online, and using coupons are just a few ways to determine how much you should spend on groceries. You can set up a monthly grocery budget, and an overall budget, that will help you meet your financial goals. While food prices are less volatile than gasoline costs, they can still fluctuate seasonally and with changes in supply and demand, so it can be a challenge to figure out what to spend on groceries. ![]() When it comes to budget necessities, people usually think of a few basic needs: shelter, power, transportation, health care, and, of course, food.įood can take up almost 13% of that budget, with some of that going toward food out of the house in addition to groceries.
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