Q:

What is a food budget for a single person?

A:

The average food budget for a single person is about $302 per month, according to LowerYourSpending.com. Based on data from the U.S. Department of Agriculture, LowerYourSpending.com notes that grocery spending within USDA guidelines ranges from about $198 to about $450 depending on the person's age and other factors.

It is possible to eat on a lower budget, notes MSN Money. On a monthly budget of $50, a savvy shopper can cover his food costs by shopping for sales and choosing stores wisely. Shopping at warehouse stores, bargain stores, ethnic grocery stores and produce markets can help shoppers stay within the lower budget. Stocking up when frequently used items go on sale can also help.


Is this answer helpful?

Similar Questions

  • Q:

    How do I create a grocery budget for a single person?

    A:

    Grocery budgeting helps you control expenses as well as get the nutrients you need. If you're a single person tired of spending too much money at the store, it's important to develop a budget and stick to it. Learn how to create a grocery budget that is suitable for you.

    Full Answer >
    Filed Under:
  • Q:

    What is budget monitoring?

    A:

    Entrepreneurship.org notes that monitoring a budget involves performing a regular comparison of projected financial costs and gains against actual performance numbers. Discovering the variances between budgeted amounts and actual financial performance allows management to determine how well a company is meeting goals. Monitoring the budget also functions as a powerful cost management tool for businesses.

    Full Answer >
    Filed Under:
  • Q:

    What is a financial budget?

    A:

    The term financial budget refers to projections on an organization's income and expenses both on a short-term basis and long-term basis. According to the Entrepreneur, short-term plans should cover at least one financial year, while long-term plans ought to cover at least three years.

    Full Answer >
    Filed Under:
  • Q:

    What is the purpose of a budget?

    A:

    The purpose of a budget is to ensure that a household's or business's expenses do not amount to more than the income. A budget can also help individuals properly allocate money to different categories to ensure that all of the basic needs of the family or company are met.

    Full Answer >
    Filed Under:

Explore