How much does the average person spend on dining out per month?

How much does the average person spend on dining out per month?

The average American spends $232 per month eating meals prepared outside the home. Given that there’s 18.2 meals eaten outside the home in an average month by the average American, the average meal outside the home costs a person $12.75.

How much should I budget for dining out?

What’s a reasonable food budget? Many financial advisors and gurus recommend spending no more than 10%-15% of take-home pay on food, a figure that includes restaurant dining and takeout. By this measure, a couple with $70,000 in adjusted income should keep an annual food budget in the $7,000 to $10,500 range.

How much does the average family of 4 spend on eating out?

Breaking Down the Numbers (But in 2019, we spent an average of $418.68 a month eating out, and that wasn’t really happening in 2020, so the money was reallocated.) Also, for what it’s worth, the USDA publishes monthly Cost of Food Reports.

How much do Millennials spend on eating out?

Each year, millennials spend about $2,242 at the grocery store and $1,672 dining out adding up to around 1,140 hours devoted to food (time spent meal-prepping, cooking, and eating out), a survey of 2,000 millennial consumers commissioned by plant-based food company Sweet Earth Foods revealed.

Do millennials eat out a lot?

The survey found that three times a week, 54 percent of younger millennials (ages 18 to 26) eat out and 30 percent buy coffee. 51 percent go to a bar once per week and the average millennial eats out five times a week.

Is it cheaper for single person to eat out?

The article was titled “New Study Finds Eating Out is Cheaper than Cooking at Home.” It contends that the cost of a meal at a mid-scale chain restaurant is less than that of a comparable meal cooked at home. Only by a $2 or $3 margin, but still cheaper.

How much money do you spend on dining out per month?

The average money spent on restaurants per month is 44 percent of the average household’s food budget. This is $3,365 for dining out instead of cooking at home and lowering this budget item. Instead of an all-or-nothing strategy to eliminate all dining out costs, start with eliminating some costs.

How much do Americans spend on eating out?

The average American household spends almost half of its food budget on eating out — out of about $6,000 US Dollars (USD) spent on food a year, about $2,700 USD goes to eating out. Alcoholic beverages alone contribute almost $500 USD to that budget.

What’s the percentage of food spent away from home?

Food away-from-home accounted for 54.8 percent of total food expenditures, up from 50.1 percent in 2009. In 2019, Americans spent an average of 9.5 percent of their disposable personal incomes on food—divided between food at home (4.9 percent) and food away from home (4.6 percent).

How can I figure out my dining out budget?

For a month, keep the receipts for everything you spend on food. That includes lunches, cups of coffee, the occasional cocktail after work and your groceries. Add up the receipts at the end of the month so you can see how much you spend on eating at home and dining out.

Share this post