Sunday, June 10, 2012

Cost of food

After my last article about losing seems appropriate to write about the cost of food.  Depending on what you buy or what you diet makeup can be pretty expensive.  Now that I have three children, I've noticed a significant increase in grocery expenses let alone the increase in several other areas as well.

Typically when I am about to write an article, I do a search to see what others are writing about.  I would hate to duplicate what someone else has already written.  However, I do like to share with others any articles that I found interesting, or to give myself more credibility.

I typed in what is the average cost of food.  The first item on the list was the USDA website.  It gives you the costs for children and people by gender.  It also breaks down costs per family of 2 and 4.  The site gives you weekly and monthly costs, and divides the costs by 4 categories ranging from Thrift to Liberal plans.

I haven't personally read the different plans, but if I was on the "Thrift" plan I would be spending the following per month for food.

2-3                 $100.40
4-5                 $104.20 (3.7% increase)
6-8                 $133.30 (27% increase)
Male 19-50    $180.20
Female 19-50 $160.10
Total              $678.20

The Liberal plan would cost almost double at $1,356.40

That is a lot of money for food.  This is about 15% of my total salary and would be about 31% under the Liberal plan.

This is a 44% increase from the year 2000.

I find this information interesting.  Food prices increase, but technology prices decrease.  The same 32" TV I purchased back in 2007 for $999 costs about $329 today.  The same ear of corn bought back in 2000 costs much more today.   Luxury items decrease in costs where as essentials increase.  According to the USDA the average U.S. consumer spent 9.8 percent of disposable personal income (income available after taxes) on all food in 2007.  I do not see how this is possible if you are using their 4 tier plans.  Something isn't right.  Perhaps one of my readers can figure this out.

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