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Every month, you're shelling out oodles of cash to pay for various needs: your car payment, a mortgage, perhaps a monthly subscription or two and, of course, food. Out of all of those expenses, food is the one thing that can vary drastically from month to month. And if you're not careful, your spending habits in this category could be draining your bank account faster than you think.
In 2021, the U.S. Bureau of Labor Statistics found that the average American household spent 36.5% on food eaten away from home. You've probably been told that eating at home is the most economical choice, and that may be true for the most part. However, there are other important factors to keep in mind when you're trying to stretch the family budget — without depleting all of your other resources.
The following tips will help you stay on top of your finances so that both your wallet (and your stomach) stay comfortably full.
Know your options
It's easy to think of your food options as simply a choice between eating at home and eating out. These days, it's actually more nuanced than that. For meals at home, you can do all the grocery shopping yourself or you can order homemade meal kits. When you're eating out, you can choose from fast food, fast casual, casual or fine dining restaurants. Obviously, the cost and quality of your meals depend on which of these options you choose.
Make a plan
There's nothing wrong with wanting to hit up your favorite restaurant now and then. Sometimes it's good to shake things up! Take the guilt out of your occasional food splurge by planning in advance how often you can afford to eat out per month.
If Saturday is your weekly date night, don't sabotage the budget by ordering takeout in the middle of the week. Having specific meals planned ahead of time can remove a lot of the decision fatigue involved in whipping up the nightly menu.
Minimize food waste
Shopping at your local grocery store isn't going to save you any money in the long run if you don't use the food you buy. Yet food waste is a common problem among American households.
The U.S. Department of Agriculture estimates that between 30–40% of the food supply winds up in landfills. Consumers contribute to this problem by buying or cooking more than they need and throwing away the extras. The solution: Buy and cook the right portions of food to satisfy your needs. If you have extra, save it for the next meal — or share it with someone else.
Be careful when you're eating out
It's no secret that Americans love to eat out, and this can definitely add up each month if you aren't careful. To no surprise at all, of all of your food options on the table, this one is the priciest. According to the U.S. Bureau of Labor Statistics, the average household spent $3,459 on food away from home in 2018. That was about one-fourth the amount spent on basic shelter, only slightly less than utilities, fuels and public services, and twice as much as apparel and services.
Of course, restaurants do fall into different segments. In an article for Investopedia, Trevir Nath writes that a fast-food restaurant (such as McDonald's or Wendy's) typically costs between $5 to $7 per meal. A fast-casual restaurant meal (think: Chipotle or Café Zupas) costs about $11. The cost of casual and fine-dining restaurants goes up from there.
Understand the cost of homemade meals
It's time to talk about the cost of homemade meals — and not just the amount of money you'll spend. Writing for Money Under 30, Amy Bergen notes that a home-cooked meal costs about $4 on average. In theory, this would be the cheapest option. But you also have to factor in the time you'll spend planning, shopping, meal prepping and cooking since, as they say, time is money.
Many tired, time-crunched Americans opt for those more convenient fast-food meals, even if they are slightly more expensive and less nutritious.
Consider a new way to save time and money
Now there's a way to get all the benefits of a healthy home-cooked meal without breaking the bank or bogging down your schedule. At an average price of $3.12 per serving, Beehive Meals kits are comparable to the cost of a homemade meal. And when you consider all the time you save planning, shopping and prepping, that value increases.
All Beehive Meals are pre-made and pre-proportioned so that all you have to do is throw it in your crockpot, maybe add a side or two and then sit down to enjoy dinner with the whole family.
Let Beehive Meals take the busy work out of family dinner for you! To check out the weekly menu, pricing and deliver options, visit beehivemeals.com today.
