A Costly Companion

Unlike every other national holiday, today is a day to celebrate being single! 11/11 a day to embrace your independence and all the fun that comes with being a single man or woman. Being single can be loads of fun and a great time in one’s life, a time to meet more people, and reflex on one’s self. One of the most exciting parts of being single is going on dates! Whether its brunch, drinks, dinner, or dessert. Sharing a meal with someone is extremely telling of one’s mannerism, preferences, and chatting skills. Eating out is a big part of single culture. However small expenses can add up when it comes to eating out at restaurants. But small changes also make a big difference. Here’s how much it really costs to eat out.

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 Los Angeles, I get it, it’s one of the food capitals of our nation! But maybe tangible numbers will help us all really see how much one can save if they stop eating out — even if it’s just a few days a week. The average American household spends about $3,000 a year dining out, according to the Bureau of Labor Statistics, one person spending only on him/herself counts as a household as well.

Now I know what you’re thinking “there’s no way I could spend that much”? Well, let’s take a deeper 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 unfortunately still counts as “dining out”. Between delivery minimums and surcharges, we’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. To make a profit, restaurants charge about a 300% markup on the items they serve. You’re paying for service and convenience. In many cases, you could make a $15 meal in a restaurant for $5 at home. Granted, the food you make at home might not taste exactly the same. Sometimes it’s worth it to enjoy a dish made by a professional. People eat at restaurants for lots of reasons — to socialize, to celebrate, to try something new, to take a break from busy lives. But if you dine out regularly for convenience’s sake, you could save some serious cash cooking at home. The average commercially-prepared meal costs around $13. Even if you rarely spend this much money at one time when you eat out, consider frequency. Two meals for $6.50 will add up to the same price. By contrast, the average meal prepared at home costs around $4 for groceries — a $9 savings per person per meal. To put it another way, a $13 restaurant meal is about 325% more expensive than a $4 meal you prepare yourself. You’ll save even more if you make, and use leftovers. The actual numbers will depend on the cost of groceries where you live. But an area with pricier groceries almost always has pricier-than-usual restaurants as well. Percentage-wise you’ll still save by eating at home.

Now this doesn’t mean you should stop going out! If anything, this is a push for all of us to get creative on our next date night. Whether that means cooking a meal together or doing some other fun and free activity, we should be able to fun time without breaking the bank!