Eating out is one expense that most of us cannot cut completely out of the budget. It is estimated that American households spend over $2,500 each year eating out. If this is true for my situation, I could have been on my way to being debt free. I wonder how many households are still paying their credit card bills or cash advances needed in order to support these meals?
Budget to keep cash advances out.
I am trying to think about how many times I use my credit card when I do decide to splurge on a meal out? I’m thinking that it is on a rare occasion that I totally splurge on dining. A total splurge for me is using a credit card instead of my debit card. It has to be a real special occasion or an emergency situation that I find myself charging a meal at a restaurant. For the most part, I do what I can on the income I bring home. I have a certain amount which I earmark towards dinners out, but I am far from perfect and there are times that I break down and give myself an unplanned night off from kitchen duty. The last thing I want is to use money earmarked for other bills then depend on a cash advance to make ends meet. So far so good, but I still cringe to think that I may be spending $2,500 each year because I am too tired to cook.
Timing is everything, even with restaurants. See if one of your favorite places offers happy hour specials. Dining a bit early and choosing from a select menu will save money. Don’t allow this savings to think you can eat out an extra night, put it into a savings account and prevent cash advances or credit cards from paying for your meal.
Look for deals online. Go to the web pages of your favorite restaurants. You may find that some offer free or discounted children’s prices on certain nights. There may be printable coupons or even rewards programs. Restaurants want your business and want you to return. A rewards card will often promote free meals as incentive to make return trips. Like anything else, these rewards tempt people to spend more. It sounds a little bit like credit card reward programs. If you have the extra money to spend, then why should it matter?
It only matters to the individual. For myself, I try to think about the larger picture. Driving home from work tired, I contemplate taking the kids out for dinner. My commute allows me the freedom to fight within myself. Do I have anything I could feed them at home which does not take lots of effort? Could I stop at the grocery store and select something quick which is money spent, but cheaper than a restaurant or am I totally spent and don’t even want to even think about making dinner and cleaning up afterward? The choice is ultimately my own, but I must confess that it sure does feel good to talk myself out of dining out knowing I just saved $20 to be used elsewhere in my budget. I prefer to place that kind of money into my savings account. I don’t save much, but I do have enough to keep me from maxing my credit cards or using a cash advance when an unexpected cost does pop up.
