You probably heard this advice before: if you want to save money stop eating out so much!
And let’s be honest, you’ve tried, but haven’t really stuck with that advice.
I live in a growing city, I get it.
But maybe some actual numbers will help you really see how much you can save if you stop eating out – even if it’s just a few days a week.
The cost of dining out
The average American household spends about $3,000 a year dining out, according to the Bureau of Labor Statistics (remember that one person spending only on him/herself counts as a household, too.)
Are you thinking there’s no way you could spend that much?
Well, let’s take another look.
If you go out for lunch Monday through Friday for a year, you might spend $10 a meal – a pretty good deal at most dining establishments. This adds up to $50 weekly. It’s also easy to spend that amount if you go out to dinner two or three times a week. And yes, if you order takeout or delivery, this still counts as “dining out”.
Between delivery minimums and surcharges, you’re paying almost as much to stay in.
Spend $50 a week on restaurant food, and in total, you’re spending $2,500 per year, near the national average. This cash adds up to almost half of the average American’s annual food budget.
Source: moneyunder30.com