Low-Cost: This plan represents food costs for the second-lowest quartile of food spending , according to the USDA. On this plan, an individual will spend $210 – $242 per month, while a family of four will spend $726 – $855.
According to the Bureau of Labor Statistics, in 2014, the average American household spent $2,787 on restaurant meals and takeout, compared to $3,971 on groceries . But in 2015, the average amount spent on restaurants and takeout jumped $221 to $3,008.
This table shows the average weekly grocery bill in Australia by household size. Average grocery bill by household size.
|Household size||Average weekly grocery bill|
|5 or more||$215|
The article was titled “New Study Finds Eating Out is Cheaper than Cooking at Home.” Really! It contends that the cost of a meal at a mid-scale chain restaurant is less than that of a comparable meal cooked at home. Only by a $2 or $3 margin, but still cheaper .
Monthly Grocery Budget
|FAMILY SIZE||SUGGESTED MONTHLY BUDGET|
You can count on the following monthly operating costs for your restaurant. Rent and utilities (electricity, water, internet, cable, and phone): 5% – 10% of revenue. Food cost: 25% – 40% of food sales. Labor cost: Roughly 30% of revenue including management salaries of 10% Insurance varies by provider and type.
Although factors like franchise affiliation may affect profit margins , fast casual restaurants typically have an average profit margin of 6-9%. This profit margin reflects the lower labor costs for pre-prepared food in the kitchen and a higher table turnover rate due to faster service.
“ Good salary ” is dependent on your usual lifestyle. $100k p.a. is well above any measure of an average salary , yet a lot of two income couples earning $250k between them say they struggle. Average full-time earnings are around $60–65k p.a., depending on the measure taken.
According to the U.S. Department of Agriculture, Americans spend, on average , around 6% of their budget on food . However, the study also shows that they also spend 5% of their disposable income on dining out. If your take-home income is $3,000 a month, you will budget around $180 for groceries and $150 for dining out.
Food is, according to the Australian Bureau of Statistics (ABS), the second-biggest category of household spending, after housing costs and before transport. The average food spend per Australian is $4740 per year, or $91 per week.
$200 a month for food is actually quite a bit of money! That’s $6.66 a day, which can buy a ton of variety, including expensive products as well – as long as you don’t eat out or shop at places such as Whole Foods. Just buy things that are on sale and you’ll be fine without even really trying.
The average American eats an average of 4.2 commercially prepared meals per week . In other words, as a nation, we eat out between four and five times a week , on average . This number equates to 18.2 meals in an average month eaten outside the home.
Order water. Drinks are one of the fastest ways to run up a restaurant bill. Plan ahead. Going out to eat on a whim will likely cost the most. Coupons and deal sites. Order family style. Weigh in. Skip the fast food. Kids eat free. Order take out .