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Ladybugs are beneficial insects, which means they eat bad bugs that feed on garden plants. They have an especially voracious appetite for aphids, which are tiny, soft-bodied insects that multiply quickly and feed on sap. They also eat mites, lice, insect eggs and other soft-bodied insects. According to the University of Kentucky College of Agriculture, a single ladybug may eat as many as 50 aphids a day or 5,000 aphids in its lifetime.