How much would you say you spend on groceries per week? Per month? Do you budget for it or just go hog-wild in the grocery store each week?
Global News is reporting that groceries for a Canadian family of four costs an average of $220 a week. To add to that, an affordable food budget shouldn’t cost that family more than 15% of the household’s net income. So for $220 a week, that average Canadian family of four would have to bring home $1,450 per week after tax. Which means that household is making about $100,000 a year.
Cost of home/rent ideally shave off no more than 30% of your total income, but a 24% of households in Canada spend more than that, according to the latest census data.
The reality becomes most Canadians choosing to cut back on groceries rather than miss paying their bills – making it more difficult to follow the ol’ Canada Food Guide.