How to Budget for Groceries for a Single Male
If you're a single man tired of opening the refrigerator door only to find it as empty as your bank account, create a grocery budget to keep your costs under control. According to the United States Department of Agriculture, the average cost of food at home for a single male was between $176 and $347 in June 2011, depending on if he took the thrifty or more expensive route. That was nearly 5 percent higher than in June 2010. In times of economic uncertainty and rising costs, grocery budgeting helps manage these expenses and get the nutrients you need.
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Instructions
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Calculate your monthly fixed expenses, including rent, cell phone, student loans, car payment, insurance and utilities. Subtract the total from your monthly net income. List other expenses such as gas, savings, food, entertainment, eating out, clothing and things such as dry cleaning and haircuts.
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Determine how much you want to spend on groceries from the available amount; make a weekly shopping list. Shopping with a list prevents spontaneous or unnecessary purchases. Write down everything you want to buy, then go through the list and estimate how much each item will cost. If the list price exceeds your budget, review the list and eliminate non-essentials.
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Shop on a full stomach so you don't buy more than you can chew. Buying more perishable items that you can eat will lead to spoiling. Don't buy more than you need and pay close attention to expiration dates.
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Look for sale items and consider generic store brands to get the most for your dollar. Grocery stores run promotions and usually only require you to sign up for a loyalty card to get these discounts. Store brands might offer similar features for a lower price than branded goods.
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Check how much products cost when you put them in the cart. When an item costs more than expected, ask yourself if you really need it. If you decide to buy it, you might need to pass on another item to finish the trip on budget.
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Tips & Warnings
Consider shopping on a cash-only basis. Leave your credit and debit cards and home, and only bring as much cash as you have budgeted. Take your calculator to the store.
Buy in bulk if you have freezer space; it saves money in the long run. Warehouse stores offer discounted products in bulk, but you'll have to pay an annual fee for a membership card.
Pay attention to the cost per ounce, not the total product cost, when comparing prices to get the most value for your money. Food manufactures sometimes reduce package sizes to increase profits but these changes often go unnoticed by consumers.
References
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