Grocery is one of the basic necessities of every household and it is undoubtedly the most focused expense of every month. Almost every income producer of the family keeps track of prices of all items they buy every month. This article will provide you with all the necessary information regarding the average cost of groceries of families of different magnitude. An average family in the US spends around a cost $386.92 on their groceries shopping monthly, and $5000 yearly. This is only a general idea and the cost might fluctuate for different people with different preferences.
The pandemic has utterly influenced the demand and consumption of various kinds of edible and inedible goods. It is because almost all the people were working from home and thus, having all their meals at home. Since the pandemic, inflation has been rising with every new budget. People are worried about higher costs of goods because it has become really difficult for some of them to afford basic necessities in mediocre income.
How Location and Income Influence Groceries Cost?
The prices of goods differ in different areas and states. It solely depends upon the tax rates. Some states of the United States are cheaper as compared to others, while some are more expensive. Also, you might have noticed that an item costs much less when you buy it from a local grocery store than from a lavish shopping mall. So, this is how location affects the grocery rates.
How much income a family produces on monthly basis also affects the grocery cost. Families with lower income only buy necessary stuff of normal quality. While families with higher income prefer buying ample stuff of good quality and other luxury goods too.
Average Grocery Costs
If a person lives alone, the grocery cost for him will definitely be lower than a whole family. the average grocery cost of a single person is around $180-$370. Here is the average grocery cost for different families:
Average Grocery Cost for a Family of 2
A family of two people mostly consists of a male and a female. Their average grocery expense is estimated to be around $400-$800.
Average Grocery Cost for a Family of 3
The average grocery cost for a family of three people is a little bit more than the family of two people. It is estimated to be around $500-$900.
Average Grocery Cost for a Family of 4
A family of 4 usually consists of parents and two children. The expense of such family basically depends upon the age of the children. If the children are younger than 6 years, the grocery cost will slightly differ from the family of 3 people. On average, the cost is around $700-$1400.
Average Grocery Cost for a Family of 5
The average grocery cost for a family of 5 is around $1000-$1500.
Here’s How You Can Reduce Your Grocery Expenditure
- Stick to Tour Grocery List
Before going to buy grocery, check which products you have in your house and which ones you need to buy. Make a list mentioning only the items you need. Buy only those products and avoid spending extra.
- Compare Prices at Different Stores
Sometimes, the price of grocery items is different at different stores. Instead of vising the same grocery story every month, compare the prices of different stores and buy from the one that
- Buy Products in Bulk Quantity When Possible
This might sound senseless but it is a very effective way of saving money. When you buy something in bulk quantity, you pay less for the price of more.
- Wait for Sales
Most people think that sales are scams and do not save you anything; they’re wrong. For once, shop from sale and there’ll be no going back. You can purchase grocery items at really amazing discounted prices. There are also several deals with a bunch of items available at a steal price. Also, the products on promotion cost very less than their normal prices.
- Use Discount Coupons
Most online stores and some physical stores offer coupons. Make sure to use those coupons while shopping grocery.
Conclusion
Keeping your household expenses in check is really important to avoid financial strain. Since, grocery shopping is the most unavoidable expense of every household; knowing about the average costs of everything helps you keep your budget in check. This article covers the average grocery costs details of households with different number of people. If you also want to save money on your grocery shopping, check out the tips given in this article.
FAQs
- How much is the average grocery cost of a family of 5 people?
The average grocery cost for a family of 5 is around $1000-$1500.
- Is there a difference in prices of small grocery stores and lavish shopping malls?
Yes, there is a prominent difference in the prices of both places. Local grocery stores are way cheaper than the shopping malls
- How much is the average annual grocery cost of a family?
It is around $5000 annually.
