Friday, January 29, 2010
2009 Food Expense
How much do you actually eat? We spent $6,253 on food and dining in 2009. This averages to about $520 per month. Not too bad but it could be better.
The following breakdown is how we spent it:
$4,400 on Groceries (Grand Mart, Costco, Giant, Shoppers were the main places we shop)
Almost $1,100 on Restaurants (IHOP, Glory Days, XO Taste, Sichuan Village, Tian China... this is mostly with friends and family. We probably can do better by cooking at home and inviting people over. We actually didn't eat out that much in big restaurants. There were about 25 transactions averaging about $40 per meal).
$760 on Fast Food including coffee shop (Biggest culprits: McDonalds, Burger King, Wendy's, Pizza Hut, Arby's, Dunkin Donuts, Starbucks, Subway. We had over 100 transactions in this category which means every time we spent 5-7 bucks here and there... and going out almost twice a week.)
If we can control our french fry habit we can save about $65 a month.
If we can control our Sichuan Village, XO habit, IHOP, Tian Chinese habit, we can save about $90/month
That brings our food budget to around $400-450, we can save: almost $155/month.
This savings ($155/month), using our previous calculator for FUTURE VALUE over 30 years at 10% would be: almost $340,000.
I know, $155 a month doesn't sound like a lot, but in 30 years that's enough to buy a house. That's not chump change.
So, What can a budget do for you?