How much do you spend while eating out?

I have said on here before that we actually don’t eat out a lot as a family. We tend to eat at home more and more. Now of course we catch our selves eating out from time to time and we have started to spend less money eating out.

This all started for us about 12 months ago after taking the Financial Peace University (FPU) course, By Dave Ramsey. We decided to spend less and after an eye-opening budget session; we found that we spent more money eating out than we spent on our groceries, phone and car payment. This of course really wasn’t a ton of money, and while we could afford it, this proved to be enough money to keep us from achieving our financial goals. So my wife and I set to change ourselves and hopefully our four children’s financial future. A year later I can tell you we have made vast improvements. We eat out only about once or twice every two weeks and we have managed to even spend about $25 for our entire family (six total) and still feel like we feasted. I wanted to take some time and share some of the money saving tips I have run across.

·         Cut out the water!

o         We drink water now and we love it. Our family lived off sodas and the thought of water was a very seldom thought and the only time our kids drank water was when they were forced to. Maybe they are still forced, but it’s for the better. This has proved to be a huge money saver for us. The average cost of Soda in the Great State of Texas is $2.29. Two drinks are included in the cost of the kids meal, two are not. So that’s four drinks purchased to a cost of $9.16. Not to mention the tax at about $.80 and then the additional tip amount at 10% is $1.60. That is $11.50 in savings for one meal. So let’s do the math on if we still ate out at least three times a week; that is $34.50 a week, $148.35 a month (based on 4.3 weeks a month) and a whopping $1794 a year. So I challenge you to eat a few meals out without the Soda and see how much you can save.

·         Share a meal!

o         I know this goes against everything our society is based on but you really need to be a little open minded on this. My wife and I hardly ever agree on the same food at any one time and it has taken us some practice to find meals that we can agree on. When we do agree we simply ask for an extra plate or use the ones provided beforehand. Some places will even split it in the kitchen upon request. One thing to look for is a split fee. Some places charge a fee to split an entrée, sometimes adding it to the bill whether you requested it or not. So let’s do the math on this one;  if we assume that you spend about $10 a plate for your 3 meals a week then that comes to $30 a week,  $129 a month and $1548 a year. This only represents cutting out the one meal, imagine if you made the kids share a plate as well. Don’t look at me that way, we both know the kids hardly ever finish their plate anyways.

·         Be picky!

o         We have started being very wise on where we choose to spend our money.  We love to find the free kid meals and have started utilizing all the coupons we can find. Our kids bring home awards from school all the time with some kind’ve free coupon, and there are some restaurants that will award your kids with a free meal if they get an ‘A’ on their report card. What a great way to save money and your child will love the reward of showing off their work and receiving a free gift for a job well done. You need to decide to eat at a place that is more affordable vs. more prestigious, this kind of thinking can really change the amount of money you will spend.

·         Find the Freebies!

o        We take a little time to research eateries that have free kids meals, specials and freebies.  Our favorite freebie of all time is of course chips and dips. I can’t tell you how many times I have been full before the meal ever arrived. Some places offer bread or soup and salads. I have been to places that will bring out free appetizers as well. Watch your local papers and mailers for coupons for the freebies as well. Let’s say you use a coupon for a free kid’s meal the 3 trips a week you would save about $15 a week. This comes to $64.50 a month and $774 a year.

·          Take advantage of Gift Card specials!

o         If you eat at your favorite restaurant multiple times, find out if they offer special gift card purchases. Especially during the holidays. Some places offer deals like; “Buy $25.00 on Gift Cards and Get $10.00 to share or use for yourself”. Just make sure you are going to use them, if you are not sure then don’t buy them. Most cards will start deducting money for inactive use. This is how the restaurant hopes to make money off you.

·         Find other specials!

o        Savings at Church? Well of course. After church instead of throwing your bulletin away take it with you. Some restaurants offer anywhere from 5% to 25% off your bill.

o        Look through your local paper for special savings or grand opening announcements. Material in Print is still as good as the internet. Surprising? A lot of old style restaurants (you know the mom and pops places) still prefer to run ads in the paper over other avenues.

o        Facebook. If you are a Facebook’er or Twitter junkie then become a fan or follower of your favorite places, they often will post up a special.

Now these are just some ways we have started saving money when eating out. Every body is different and has different patterns and goals. The one thing I can tell you, is that we, My wife, me and our four kids. Have enjoyed more of each other simply by being at the dinner table. And if we can break the chain of our bad habits, financial irresponsibility and lazidazical cooking, then anyone can.

Chris Wilcox

McKinneyEats.com