Annually, thousands of students go to college. According to the USDA, a family of four will spend about $10,800 on groceries alone. This means that per head, it will cost $2,700 to be spent every year. This price tag seems too steep for a college student. However, this is the national median. The prices of groceries will also be dependent on where a student is going to college. But key advice students need to keep in mind is that they need to follow a vegetarian diet since meat costs a lot of money. Let us know How Should College Students Budget For Groceries?
A student in Hawaii or Alaska will need to spend $400 a month on groceries, but a student living in New Hampshire can eat a nice home-cooked meal just for $80 a month. However, many economists state that students can coast by spending $100 a month on groceries.
Choosing Cheaper Meal From Pantry
If a student wants to start cooking for themselves and rely less on take-out or fast food to save money or keep an eye on their health, the following are pantry essentials that each student must have which will lead to an easier cooking experience. Since these ingredients will last a long time or for multiple meals, it will also be easier to save money:
- Cooking oil such as olive oil, avocado oil, or vegetable oil
- Butter
- Flour
- Condiments such as pickles, ketchup, mayonnaise, hot sauce, mustard
- Spices such as paprika, garlic powder, onion powder, oregano, and chili flakes (spices can be found for cheap and in bulk at many African or Asian grocery stores)
- Carb of your choices such as rice or pasta
- Jar of pasta sauce
- Seasonings such as salt, pepper, and sugar
- Bread
- Bread spreads, such as peanut butter, jelly/jam, or Nutella (or any other nut butter)
- Canned food like soup, beans, veggies
- Deli meat
- Eggs
Cooking At Home
It is no secret, that college meal plans are expensive. The average cost of a college meal plan is $563 a month, and when this cost is compared to the cost of groceries, even in Alaska or Hawaii, cooking at home is much cheaper. At the same time, the number of times a student can eat at the mess is limited, so it is possible that by the time a semester comes to an end, the dining credits a student has will be long gone.
A lot more students are also choosing to live off-campus, in their own apartments and so they will need to set aside a budget to buy food. But, college students are not the sharpest tools in the shed, and so, they might end up wasting money on poor food choices.
The Monthly Cost Of Students Eating Off-Campus
According to various surveys, one of the largest sources of a student going broke is by going out to eat. This also includes drunk snacks after a party at a fast-food joint or going out to a proper restaurant. If a student thinks that they will save money if they do not opt for a college meal plan, and then combine the cost of eating out and buying groceries, the cost of both these options is the same in the long run.
College students spend $342 on food when eating off-campus, and since the average American eats out at least five times a week, this cost will add up. Therefore, each meal a student will eat off-campus will cost them an average of $19. However, if a student will cook at least 66 meals at home, it will cost them $205, which is significantly cheaper than eating out.
The budget for dining out and the budget for groceries need to be separate. And finally, students need to stick to cheaper outlet stores like Aldi rather than going to shop for groceries at Whole Foods.
Make Smart Choices
One of how students can save money while going grocery shopping is by making smart choices. Instead of pinching pennies when it comes to pantry essentials, they can buy good quality oil and other staples, while also focusing on the value offered and also buying produce that is in season. Meal plan, choose ingredients that are on sale for the week by subscribing to a mailing list and cut down on the use of single-use products.
Also, opting for generic brands rather than name-brand products can help you save cents if not dollars when it comes to groceries. Other strategies include using coupons, buying in bulk, and signing up for rewards programs which will be beneficial in the long run.
Spilt The Cost With Your Roommates
Likely, your roommates will also be broke college students. They might be willing to share the cost of common household items like that condiments, coffee or tea, milk or creamer, or even stuff like bread, eggs, spices, or snacks. In case your roommates do not want to split the cost of food, make it very clear that the food you have bought with your money is yours, and designate separate shelves for different roommates so they do not accidentally eat your food or you eat theirs.
Conclusion
Budgeting is a great skill any human needs to have. It starts out small, and when a student starts to live independently, you must start counting money so that you can save money for your future. Many colleges offer a meal plan, but some students cannot afford to pay an exorbitant amount when it comes to these meal plans. On the other side, some colleges just do not offer a meal plan, so the bottom line is that many college students will need to budget their expenses in such a way that they can save some money, buy books, and keep their bellies full.
Frequently Asked Questions
- How much do college students spend on alcohol per month?
On average, students spend $42 a month on alcohol.
2. What does a cup of coffee make at home cost?
Students like to buy coffee from cafes, but they will cost $4 a cup, but when coffee is made at home it only costs $0.25 a cup.
