THE FOOD BUDGET

Important Vocabulary

• Budget: A plan for managing money.

• Staples: Basic food items that are used on a regular basis.

• Food Assistance Program: Government programs that help those in need access food.

The Food Budget

• One of the most important resources you need for healthy eating is money.

• A budget helps you get the most from you money and is a plan for spending.

• The challenge is providing nutritious and tasty meals without spending more than the budget allows.

The Food Budget

• Many factors influence the amount of money in your food budget.

• Income• Number of family members• Age of family members• Time and skill for food

preparation• How often meals are eaten

outside the home• The amount of food wasted• The types of food you buy

The Food Budget

• To create a food budget:

1. Add up how much you spend on groceries and eating out for one month.

2. Divide that number by four to tell you how much you spend each week.

3. Set a realistic goal for change and a new food budget.

• Developing a workable budget takes time and fine-tuning.

Meeting Your Budget Goals

• Some tips for meeting your budget goals are:

• Stock up on staples, or basic items that are used on a regular basis (eggs, milk, cereal, bread, rice, flour)

• Prepare more meals at home

• Choose economical main dishes

• Use coupons and look for store advertisements

• Reduce food waste

Calculating Food Cost

To calculate how much food costs, you need to know:

• The cost of the food• The unit sold (pounds, pints,

count, etc.)• The amount you bought

Calculating Food Cost: Basics

Jamie went to the store to buy lentils for her soup. The lentils cost $0.98 per pound, and Jamie bought 2 pounds. How much did she

spend on the lentils?

Cost of the food = $0.98Unit Sold = poundsAmount Bought = 2 Pounds

$0.98 per pound X 2 pounds = $1.96

Calculating Food Cost: Basics

Alex is buying chicken to make fried chicken. She needs to buy 2 ¼ pounds. The chicken costs $2.99 per pound. How much does Alex

pay for the chicken?

Cost of the food = $2.99Unit Sold = poundsAmount Bought = 2 ¼ Pounds

$2.99 per pound X 2.25 pounds = $6.73

Calculating Food Cost: Better Buys

• When shopping for food, you sometimes need to compare the price of two brands.

• To do this, you need to find the unit cost, or the cost per unit (unit sold).

• Comparing brands is easy when the exact same amount is in each package, but this is not always the case.

Calculating Food Cost: Better Buys

Peanut Butter

Jar 1 = 16 oz. for $3.99Jar 2 = 16 oz. for $1.99

Which is the better buy? Jar 2

Calculating Food Cost: Better Buys

Chicken Stock

Box 1 = 1 quart for $4.99Box 2 = 2 quarts for $5.99

Box 1: $4.99 per quartUnit Cost: $4.99 per quart

Box 2: $5.99 ÷ 2 quarts = $3.00 per quartUnit Cost: $3.00 per quart

Which is the Better Buy? Box 2

quart

Calculating Food Cost: Better Buys

Milk

Container 1 = $3.99 per gallonContainer 2 = $1.99 per quart

Container 1: 1 gallon = 4 quartsUnit Cost: $3.99 ÷ 4 quarts = $1.00 per

quart

Container 2: $1.99 per quartUnit Cost: $1.99 per quart

Which is the Better Buy? Container 1

Calculating Food Cost: Recipes

Louis is needs to buy shredded cheese to make tacos. The cheese costs $4.99 for 16 oz. Louis needs to buy 48 oz. How much does Louis spend on the cheese?

Price= $4.99 per 16 ounces

Unit Needed= ounces

Unit Cost: $4.99 ÷ 16 ounces = $0.31 per ounce

Recipe Cost: $0.31 per ounce X 48 ounces = $14.88

Calculating Food Cost: Recipes

Will is making potato salad for a barbeque. His recipe calls for 3 Tbsp. of mustard. Mustard costs $2.99 per 12 ounces. How

much does the mustard in Will’s recipe cost?

Price: $2.99 per 12 ounces

Unit Needed: Tbsp.1 Tbsp. = ½ an ounce (0.5 ounces)

Unit Cost: $2.99 ÷ 12 ounces = $0.25 per ounce

Recipe Cost: 3 Tbsp. = 1 ½ ounces (1.5 ounces)

$0.25 per ounce X 1.5 ounces = $0..38

Calculating Food Cost: Recipes

Nathan is making a grilled cheese for lunch and needs 4 slices of bread. The bread costs $3.96 for 1 loaf and. How much does the bread for Nathan’s lunch cost?

Price: $3.96 per loaf

Unit Needed: slices1 loaf = 16 slices

Unit Cost: $3.96 ÷ 16 slices= $0.25 per slice

Recipe Cost: $0.25 per slice X 4 slices = $1.00

Market Cost

Item: Item in recipe Price: How much the item costs ($5.00) Amount Sold: Exact quantity in package(32oz.) Unit Needed: Unit your recipe calls for (Tbsp.) Unit Needed Per Unit Sold: Equivalents conversion (Ex.

32oz. = 64 Tbsp.) Price Per Unit Needed: Divide the price by the unit

needed per unit sold. ($5.00 / 64 Tbsp. = $0.08 per Tbsp.)

Amount Used in Recipe: The measurement your recipe calls for (2 Tbsp.)

Cost of Amount Used: Multiply the price per unit by the amount used in the recipe ($0.08 x 2Tbsp. = $0.16)