Life In…United States G1 © Family Economics & Financial Education - Revised May Life in...United States Simulation - Bancroft-Notebook Cover and Profile Page 1 Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona G2 Food  Food, on average, is 15% of a households net income  Calculate what 15% of your households net income is

Life In…United States G1 © Family Economics & Financial Education - Revised May Life in...United States Simulation - Bancroft-Notebook Cover and Profile Page 2 Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona G2 Types of Food Plans  Thrifty –Generic brands –Canned fruits and vegetables –No junk food –Chicken and hamburger  Low-cost –Generic brands –Some fresh fruit and vegetables –Chicken, hamburger, turkey, ham  Moderate-cost –Mostly fresh fruit and vegetables –Both name brand and generic –Variety of meats  Liberal –Organic –Name brands –Fresh fruit and vegetables –Variety of meats including steak and lobster

Life In…United States G1 © Family Economics & Financial Education - Revised May Life in...United States Simulation - Bancroft-Notebook Cover and Profile Page 3 Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona G2 Food  Guided Spending Plan Question #7 –If the profile indicates the amount spent on food, record it –Cost of food at home for adults chart: Determine if you are allocating food for an individual or 2 adults Identify which food plan is affordable and fits with your scenario Identify the age of the adult(s) Record the food plan selected and amount

Life In…United States G1 © Family Economics & Financial Education - Revised May Life in...United States Simulation - Bancroft-Notebook Cover and Profile Page 4 Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona G2 Food  Cost of eating out –Go to the Average Expenditures Page –Analyze the average costs based upon income level –Determine and record the amount  Cost of food for children –Go to the Cost of Raising Children document –Select the appropriate table based upon single or two-parent families and income –Record the proper amount in the “food at home” category  Calculate your food sub-total –Is it approximately 15% of net income?