Is it possible to grocery shop only once a month and spend $350 for a family of seven? Before you look at your current grocery budget, it is important to note that the $350 in 2007 equals $458.19 in 2020. “According to the U.S. Bureau of Labor Statistics, prices for food were 30.91% higher in 2020 versus 2007 (a $108.19 difference in value).” Calculator link.
$350 in 2007 = $458.19 in 2020
According to America’s Cheapest Family, “grocers expect six of ten items consumers pick up in the store to be unplanned purchases. Sixty percent!”
Could you spend just $65.45 per month to feed one person?
Well maybe, just maybe it’s a possibility to get closer to that number if we all stuck to our grocery lists or had a grocery list in the first place!
I found America’s Cheapest Family entertaining yet very thought provoking. It got me looking at our grocery budget in more detail. While some of the information is fairly outdated like land lines, the advice and suggestions are classic. The classic Entertainment Book from the 1990s is still a thing!
Look at your bills, determine what is necessary versus what is nice to have. Shop at local thrift stores. Avoid paying full price for just about everything. Pay for a car in cash. Have a budget. Stick to your grocery list. Ride your bicycle whenever you can. Build an emergency fund or as the book calls it “Fat Freddie’s Go-to-Hell Fund.”
You have at your disposal one of the most powerful tools available to mankind: the power of choice. You can choose to be defeated and give up, or you can choose to become a victor, making healthy financial choices and each day seeing positive results.America’s Cheapest Family by Steve and Annette Economides
But seriously, if you need a kick in the pants to fire up your motivation then I would certainly recommend picking up a copy of America’s Cheapest Family from your local library (because that’s probably what the Economides would do).