We all enjoy dining out, but if you’re serious about saving money, eating out isn’t an option. With rising food costs and extra expenses tied to eating out, cooking at home can significantly affect your budget. By cooking at home, you save money and improve your control over your health and spending. Here are 9 compelling reasons why eating out isn’t an option for those who want to save money.
1. Restaurant Markups Can Skyrocket Your Spending
Dining out involves substantial markups on food. Consider this: while making a hamburger at home might cost around five to ten dollars, a fine dining restaurant could charge up to $25 for the same meal, excluding beverages and gratuity. This can quickly add up to $35-40 per person. Regularly indulging in such meals can have a significant impact on your budget.
2. Tip and Tax Add Up Quickly
When you’re at a restaurant, you don’t just pay for the meal. You have to add tax and gratuity at the end. While gratuity is optional, taxes are not. These additions can inflate the final bill and make eating out more expensive.
3. Impulse Ordering Often Leads to Overspending
When you dine out, make a plan. I do so by looking through the menu before getting to the venue. I already know exactly what to order and how much it will be. Otherwise, it’s easy to order extras you didn’t plan for, adding unnecessary costs.
4. Drinks Are Priced Higher than You Think
At restaurants, non-alcoholic beverages like sodas and tea are generally priced under three dollars, considered average and reasonable. However, caution should be exercised when ordering specialty drinks or alcoholic beverages, as their prices are often significantly higher. To avoid unexpected expenses, it’s advisable to inquire about the cost before placing an order. Additionally, taking advantage of happy hour specials, promotions, and daily bar deals can offer more affordable options for enjoying your favorite beverages.
5. Home-cooked Meals Offer Better Portion Control
Outside of budgeting, home-cooked meals are healthier. When you cook your food, you know exactly what’s happening. That means fewer calories and healthier ingredients. Outside that you can control your portion sizes. Controlling your portion sizes means you’re avoiding food waste, and can save money.
6. Leftovers: Home Meals Can Stretch Further
Cooking at home often results in leftovers, which is convenient as it saves time in the kitchen the following day. These leftovers can be enjoyed as they are for another meal or transformed into an entirely new dish. In contrast, when dining at a restaurant, the likelihood of having leftovers is low unless the portions are exceptionally large. Bringing home leftovers from a restaurant to enjoy the next day is generally not an option.
7. Dining Out Encourages Unnecessary Spending
When you go out, you’re going to spend money. If you are a foodie, the atmosphere of a restaurant is going to encourage you to spend money trying new things. This could lead to purchasing unplanned appetizers, desserts, and drinks. These unplanned additions are sure to run your bill up.
8. Meal Prep at Home Saves Time and Money in the Long Run
If you’re not purchasing family-sized meals, dining at restaurants isn’t conducive to meal preparation. Restaurant portions typically aren’t large enough for meal prepping. Preparing meals in bulk can help you save time and money by reducing frequent restaurant visits and lowering your overall food budget.
9. Frequent Dining Out Habits Can Be Hard to Break
Continuously dining out can foster unhealthy habits. It not only diminishes your motivation to cook at home but also increases the likelihood of disregarding your budget. Breaking the habit becomes exceedingly challenging once you fall into the routine of regular dining out. Neglecting this habit can also have adverse effects on your financial well-being.
Cutting Back Can Save You a Ton
If saving money is your goal, cutting back on eating out is one of the most effective ways to take control of your finances. So, if you’re serious about your financial goals, skip the restaurant and start planning your next meal at home. It’s an investment in your financial future and your health.