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7 WAYS TO SLASH DINING OUT COSTS

It is an inarguable fact that Americans desire to eat in general is growing as exhibited by our growing percentages of overweight and obese people. Also growing is the amount of money we spend on meals away from home. The United States Department of Agriculture Economic Research Service reported in a November 2013 article that spending on food prepared away from home rose to 43.1% of all food expenditures in 2012.Over eating and over spending by eating out are two ways to cut food expenses drastically. I will leave the former as personal choice and address the later.

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Since meals out average costs is two to four times the cost of similar meals prepared at home the most economical choice is to eat in. That said sometimes it is difficult if not  impossible to do so. True confession, I have eaten far too many meals away from home in my life and have only recently realized the money that was leaving my life by eating out so frequently. While dining out can be an indulgence or necessity in can also be a budget killer.  The quick bite or dining indulgence doesn’t need to be so deadly if you plan and identify some ways to reduce what you spend.

To follow are a few suggestions on how to trim the costs with the caveat that some social situations would preclude the use of some of the methods discussed. We are trying to cut costs not be chintzy so use wisely and tip on the total amount of the bill not the discounted check. Please be fair to your server, we are not cheap but we are thrifty.

1. KNOW WHEN TO EAT

Knowing when to eat can reduce your bill substantially. Lunches are cheaper than dinners and often offer the same portions.  Happy hours provide some great bargains with free or half priced dinners or appetizers are often free. Weekday specials and early birds (I swear I am not that old) can also help you save.

2. ONLINE RESOURCES REDUCE COSTS

My favorite online resource is restaurants.com but Groupon and LivingSocial are also offering ways to save up to 50%, Maybe not the best way to save if you are on a first date or dazzle a new client but coupons can help you save a bundle. I don’t use foursquare myself but have been told that just by checking in you can often get free drinks or appetizer. Online searches can yield great savings for just a few minutes of your time.

3. NEWSPAPER AND ENTERTAINMENT BOOKS

Let’s talk “old school”. I have been using Entertainment books for decades and they still offer some great two for one’s if you have one in the car and remember to use it this can be your go to way of saving for spur of the moment fast food. Newspapers are trying to exist and advertisers are more aggressive than ever with their offers.

4. JOIN THE CLUB

If there is a place where you dine regularly they may have a frequent dining club. Most clubs offer points for each dollar you spend that can be redeemed for free meals. In addition you can usually count on them for a free birthday meal or at least a two for one. The savings aren’t as large as some of the other suggestions I bring this up because it costs you nothing to join and you favorite place may as well reward you for your loyalty.

5. AFFILIATION DISCOUNTS

If you are military, a senior or student you may have certain discounts that are yours by affiliation. Seniors in particular have 10-25% discounts or freebies at many fast food and restaurants. Student discounts are a bonus but not as widely offered. Military dicounts are most often offered in cities or towns with proximity to military bases. Check out your city or town and by all means take advantage of the benefits.

6. FREEBIES FOR THE KIDS

Kids menus are now almost the rule rather than the exception in most non-gourmet dining establishments but some restaurants offer free kids meals with the purchase of adult meals. I recommend this site reluctantly because they overhype the benefit but check out coupon divas. http://coupondivas.com/kids-eat-free

7. WATCH THE COST OF ALCOHOL AND EXTRAS

I bring this up because it is criminal how much markup there is on wine and bar items. One of my local favorites here in my hometown of Las Vegas is a wine store/restaurant called Marche Bacchus. It is a lovely little place with a wide selection of wines that you can buy and then dine in a beautiful environment and only pay a modest corkage for the wine service. I find that all to many restaurants are, as my friend Cal would say, “too proud of their wines” and mark them up 300-500%.

I really enjoy a nice wine with dinner but two ways to avoid the pain are to get a meal in take out and cork your own bottle of something you enjoy but don’t want to pay $100 for a bottle or to find your own Marche Baccus that is all too happy to cork the wine you bring in.

Once again the object is not to be cheap but be frugal and discerning and not willing to overpay.

Bon appetite!

Posted in cash flow managment, money saving ideas.