![]() ![]() Oval does not provide financial advice, nor does it hold client’s money. The value of any investment may decrease or increase and you may get less than you initially invested. Past performance is not indicative of future performance. If you are not sure whether any of the products we offer are suitable for you, please speak to a financial advisor. ![]() In app you will find all the information to make informed decisions about financial products. By always knowing exactly what it is you need to buy, you can stop expensive “doubling up” or panic buying. Keep your list up to dateĪdding items to your shopping list as they run out will stop you hovering in the food aisle wondering if you have that particular item at home. Many stores price their food differently, and you can often find the same produce for better value elsewhere. If you’re strapped for time this can be difficult, but shopping at different stores is a good way to save money. If you spend money on eating out then stay home more often and channel that money into your food shopping. If you need extra money in your food budget then one way of increasing it is to find that money from elsewhere. It also allows to better plan the nutritional value of each meal, allowing you to make sure you get the full range of what your body needs. This may sound a little restrictive, but planning a menu a week ahead of time actually minimises waste and allows you to double up on ingredients, therefore cutting costs. If these numbers sounds alarmingly high then don’t worry, there are a number of ways in which you can work on bringing your costs down to within your budget. a family of four (taking into account the age of your children and the amount of food they consume), should be looking at a weekly budget of around £125, or a monthly budget of roughly £500. a single professional you should be looking at a weekly budget of £31.39, or monthly budget of £125. So what should my budget be?īased on the statistics provided, this means that if you are: According to the statistics, you should therefore be spending roughly £125 per head, per month on household food costs. Of this, £31.39 is spent on food for the household, and £13.92 is spent eating out.ĭisregarding the amount spent on eating out, and multiplying the figure spent on household food costs, you can create an estimated monthly budget figure. The average expenditure on food and drink, per person per week across the UK is £45.31. ![]() On average, food and non-alcoholic drink prices rose by 3% over 2017/18 (this is slightly higher than the 2.7% rate of inflation). For the lowest earning 20% of households though, this figure went up to 15.2%. Looking at the statisticsĪccording to UK government statistics, an average of 10.6% of all total household costs were spent on food in 2017/18. Here are a few statistics to help you gauge exactly how much you should be spending on your weekly food bill (according to the UK averages), and a few ways to help you save a few more pennies. It’s also one of your expenses that not only seems to vary from week to week, but that keeps seeming to climb no matter how careful your are with your budget. Food shopping is one cost we all have in common whether you’re a single professional or family of four, everyone under your roof needs to eat. ![]()
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