This is really dependent on a lot of factors, from how much/often you drink, to what you like to drink, to COL.
I am not a drinker, at all. I'll have a sip of DH's beer to give my opinion on it, but at most I might buy 3 or 4 bottles of a local hard cider a year for myself (and only drink 1/4 of it before I give it to DH).
DH is a beer drinker, but he's not an every-day drinker. He'll go in fits and spurts, from one beer a night to nothing for months, and whatever in between.
We don't drink wine at all (except in a restaurant), but I do keep it in the house for cooking. And we have a sizeable collection of hard alcohol (even though we each only have a handful of drinks a year).
I don't buy cheap alcohol, unless I'm planning on making something from it (like Kahlua or vanilla extract from cheap vodka). We also brew our own beer sometimes (although we haven't since DS was born, we still have some floating around).
All that being said, for us $150/mo is a ridiculously high number. I think a trip to a brewery last month (out of state), we spent maybe $100 on beer to bring home (a case of 22s and a growler). A trip to the brew store might cost me $60 in ingredients (that's the high end), which will get me 2 cases. An average month might be $30 (that's often $60 one month and nothing the next). We don't drink out.