Let’s Get Started

Transcription

[00:00:00] All right, let’s get started. So I’m going to ask you a question. What do you spend on your groceries each month? I know each month fluctuate, so it’s really good to look at your finances for more than one month, so you can get an idea of how much you actually are spending. But if you have no idea how much you’re spending on groceries, that’s the first step.

[00:00:22] Because once you see how much you’re spending, maybe you’re spending like $1,200 a month. Instead of making it the goal to spend 300 let’s try decreasing and then working your way down to a lower number. So let’s get some realistic numbers to see where you’re at right now and what tweaks you can make today.

[00:00:43] So that way you can start spending less at the grocery store. So all of us have to go grocery shopping at some time or another, unless you eat out for every single meal, which. I mean, I don’t know how anyone could do that. Oh, it gets so old. But [00:01:00] if you go grocery shopping like the rest of civilization, you need to start tracking how much you’re spending and.

[00:01:09] You can go and use a budgeting software to go and see how much you’re spending, and use that to help categorize, which I think is awesome. But in this course, you’ll see that there is a grocery tracker. It’s a PDF that I made that not only just helps you. Figure out how much you’re spending each month. It also helps you to break down how many times you’re actually going grocery shopping each month, each week, and what grocery stores you’re shopping at.

[00:01:37] So that way you can figure out some trends and see if you are shopping too frequently, not shopping enough, and really trying to figure out what could make this work better for you. Because most of the time we go to the grocery store and we don’t think anything of it. But once you actually start noticing how often you’re going to the store.

[00:01:57] And how much time you’re spending there. It might [00:02:00] change how you extra spending and that will really help you to have a better holistic view of your grocery, grocery shopping habits. So for budgeting software, I really recommend having a spending plan. For your finances in general. So there’s a lot of different, um, budgeting tools too that you can use.

[00:02:20] We love using mint.com and it’s a free software that helps you to just go through and organize your finances and look at it without using paper and pencil for us, that helps us stick to it. If you love using paper and pencil, be my guests and do that. There’s a lot of other budgeting software, like you need a budget every dollar.com you can use Excel soft, um, where there’s so much that you can choose from.

[00:02:47] So once you realize how much you’re spending, it will help you to realize how you can make a change. And so I wanted to give you an idea of what a typical. [00:03:00] American spends on grocery shopping, so you can see how you compare. And for me, I never want to be average, and I’m guessing you’re the same way, but this will at least give you an idea of like what’s normal.

[00:03:11] Because most people don’t say like, Oh, this is how much I spend on groceries every month. So for a family of two adults. The range is pretty big, so it’s anywhere from $385 to $765 and 20 cents a month on groceries. If you have a family of four, it’s anywhere from $714 to $1,407 a month. So this vary so much and maybe you have a family of six or whatever it could be.

[00:03:48] I would just recommend using the statistics to just help you get an idea if you are in a typical ballpark range of how much you’re spending on groceries each month. [00:04:00] And I know different areas of the country, the prices fluctuate a lot, and it also depends on how big your family is, how old your kids are.

[00:04:08] And how often you have people over for dinner, like there’s so many different variables and factors that can change how much you’re spending each month on groceries. But another percentage view of how much people spend on groceries is 6% of your income is typically spent on groceries, and 5% of your income is typically spent on dining out

[00:04:34] So they’re almost. Equal. So that means that 11% of Americans or 11% is the average amount American spent on groceries and eating out combined. So if you are able to cut back on your dining, it will really help you to save on your food expenses because eating out is always more expensive. [00:05:00] Then buying the groceries and making it yourself. 

[00:05:05] So if you look at the 6% of buying groceries to 5% of dining out, you can see that we’re Americans are almost spending the exact same amount of money on groceries as they are for eating out. So look at how often you are eating out and how often you’re eating at home. Is it. Are you spending more on eating out than you are on groceries?

[00:05:31] Or is it vice versa? Look at that amount in and see how you can change things up so that way you can start saving more money. Here’s some other grocery facts that can really help you just get an idea of how much people are spending on groceries. So the average adult spends $8 a day on food, and clearly that’s not just.

[00:05:54] Like, you can’t eat out at a restaurant for breakfast, lunch, and dinner for [00:06:00] a total of $8. I don’t know where you’d be eating for that, but probably nothing good. But that gives you an idea. Cause clearly when you eat at home it’s a lot cheaper. And then 36% of Americans go grocery shopping more than one time a week.

[00:06:15] So. Look at how often you go grocery shopping. Do you grocery shop more than once a week, once a month, couple times a week? What does it look like for you? 15% of Americans grocery shop, one to two times a month and 62% of Americans look at grocery store ads on a digital device. If do you look at the grocery ads?

[00:06:38] I would highly recommend if you’re not doing that, to start looking and seeing how much you’re spending.

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