Oct 28, 2024

Question of the Day: Do Americans spend a larger portion of their food budget on meals prepared at home or on food purchased outside the home, such as takeout and restaurants?

Are Americans dishing out more cash on takeout, or keeping it simmering at home?

Answer:

Food away from home (55.70% of Food Spending)

Questions:

  • How could cooking at home more often help Americans save money on their food budget?
  • How does the convenience of meal delivery apps influence people's spending habits compared to cooking at home?
  • List the benefits and drawbacks of spending more on takeout and restaurants compared to cooking at home.

 

Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom.

 

Behind the Numbers (Advanced Financial 24/7):

According to the US Department of Agriculture’s Economic Research Service (ERS), in 2023, Americans spent $1.5 trillion on Food Away from Home (FAFH); they spent $1.1 trillion on Food At Home (FAH) during the same year.

And Americans aren’t just spending more for FAFH—the amount they’re spending is also rising much more rapidly than FAH spending is. Adjusting for inflation, FAH spending increased by just 3.37% since 2019; FAFH spending, on the other hand, increased by 13.52% in the same time frame.

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About the Author

Dave Martin

Dave joins NGPF with 15 years of teaching experience in math and computer science. After joining the New York City Teaching Fellows program and earning a Master's degree in Education from Pace University, his teaching career has taken him to New York, New Jersey and a summer in the north of Ghana. Dave firmly believes that financial literacy is vital to creating well-rounded students that are prepared for a complex and highly competitive world. During what free time two young daughters will allow, Dave enjoys video games, Dungeons & Dragons, cooking, gardening, and taking naps.

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