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Again, using a family budget planner and a food budget planner will help you create a realistic grocery monthly budget. Once you calculate recurring payments in the needs category like rent and healthcare, you can use the remaining money to determine your monthly grocery budget. Here’s an example of the 50/30/20 rule if your after-tax income is $2,500: This category includes investments, IRA contributions, or an emergency savings account. 20% of your post-tax income should be spent on savings.This category includes items that are not essential, like streaming services, dining out at restaurants, or trendy new shoes. 30% of your post-tax income should be spent on wants.
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This category includes items that are absolute necessities, like rent, healthcare, groceries, and insurance. 50% of your post-tax income should be spent on needs.The 50/30/20 rule is an easy and popular way to plan your monthly spending and can be helpful to create a budget for groceries. Maybe you are spending more than you realized on ice cream – creating a visual of what you are buying and how much you are spending can help you determine what you should cut back on purchasing, or what you can splurge on. Tracking how much you are spending on things like sweets, bread, fruits, vegetables, and meats will make it simpler for you to set a realistic monthly grocery budget based on your dietary needs. This spreadsheet allows you to log food categories, exactly what you are buying, the quantity, price per item, sum, and where you are buying it (for example, grocery or home delivery). Once you gain a better idea of how much you are spending monthly, use this free food budget planner to track how much you are spending on groceries. Your remaining balance in the planner will automatically be calculated for you. A family budget planner even if you are a single person is a great place to start – this easy-to-use spreadsheet allows you to track how much you spend on your mortgage or rent, electricity, gas, cellphone bills, and more. In order to establish your monthly grocery budget, start first by determining your overall household expenses. There are a few different ways one can easily calculate a realistic grocery budget. Make better decisions backed by data and insights Learn More How to Budget for Groceries