Americans spend more than 6% of their annual income on food every year. For one person to eat on a “moderate” budget, it costs $3,000 per year, or almost $250 per month. It costs a family of four between $712 and $1,106 per month for groceries.

You can compare your monthly average to the average monthly food costs in Colorado. Single Colorado residents spend $316 per month on food, while a family of four spends an average of $925.50.

Data from Numbeo.com indicates that Denver and Colorado Springs residents can expect to spend an average of $340 per month on food. For reference, the national average is around $323. For most of us, the amounts listed (depending on your salary) is not enough to feed ourselves, much less a family of four or more.

Average grocery bill for 1 If you’re a single adult, depending on your household budget, look to spend between $175 and $345 each month on groceries.

First, divide the distance of the route by your miles per gallon figure to find out how many gallons of gas you will need. After that, multiply the number of gallons by the price of gas to calculate the gas cost for your journey.

Key findings. The average American household spends $5,102 every month. Housing is the largest single category, accounting for 33% of monthly expenses. Transportation was the second-most expensive category at 16%.

Depending on the state you’re in gas prices may vary, but really the cost of the gas is minimal, like $1 probably. Time is more valuable though and at the barest minimum you should give them $5.

Try the 50/30/20 rule as a simple budgeting framework. Allow up to 50% of your income for needs. Leave 30% of your income for wants. Commit 20% of your income to savings and debt repayment.

Take a homebuyer who makes $40,000 a year. The maximum amount for monthly mortgage-related payments at 28% of gross income is $933. ($40,000 times 0.28 equals $11,200, and $11,200 divided by 12 months equals $933.33.)

A $15 hourly pay scale would more than double the current $7.25 federal minimum wage. It still wouldn’t offer a living wage to low-paid single adults and families in many areas, according to a CNBC analysis of state cost-of-living data.

Here’s how much money Americans think is enough to live comfortably. According to a new survey from Charles Schwab, Americans say it takes an average of $2.4 million to be considered “wealthy.” As for how much it takes to be “financially comfortable,” survey respondents say it’s an average of $1.1 million.

According to this widely-accepted concept, you can safely withdraw 4% of your investment portfolio’s value each year and never worry about going broke. In other words, to stop working, you’ll need a portfolio large enough that 4% of its value amounts to your annual spending.