Guest Post On Millennial Money- Saving Money When Eating Out

Today, I have a guest post featured on Millennial Money.  Below is a snippet, but please click on over to read my post on saving money when eating out.

 

My wife and I are millennials.  Actually my wife is a millennial, and depending on who you talk to, I’m either a millennial or Gen Xer.  Since I’m married to a millennial and most of my friends are millennials, for this article, let’s pretend I am.

 

How Often and How Much Money Do We Spend?

My wife and I are like most millennials in that we enjoy eating good food at restaurants.  According to a recent Zagat survey, on average, people spend about $36 per person while eating out.  That seems like a lot of money, right?  On top of that, the same study found that people eat out around 4.5 times per week.  More people eat out in Los Angeles (average 5.2 times per week) and on the less frequent side, Bostonians dined out on average 3.8 times per week.

 

Food Delivery

Carryout and delivery are other popular alternatives to eating out but still enjoying the same delicious food.  Around 69% of millennial men in urban areas ordered restaurant delivery over a 3 month period while 58% of millennial women also did so.  Overall, 45% of all Americans (all ages) utilized food delivery over a 3 month period.

 

Millennials vs. Baby Boomers

According to the USDA’s food expenditure data from 2014, millennials spend about $3000 annually, or 44% of their food budget, on eating out.  In contrast to 2010, that is a 11% increase.  In 2014, Baby boomers, on the other hand, spend around $2600 annually, or 40% of their food budget.

 

Americans Like To Eat Out

More recent data has been collected suggesting that Americans are currently spending more on restaurants and bars ($54.86 billion) than on their groceries ($52.5 billion).  This is astonishing as it’s the first time this has happened in recorded history.

Click over to read the rest!

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8 Comments

  1. I try not to eat out that much, but usually do not bring lunch to work. I try to keep it under $10 at work for lunch, so that adds up to about $35-50 a week for lunches. Yes, I could definitely get by at about $3-5 a meal (I love fruits and vegetables, avocados are $1!!!), but I’d rather spend time reading, working on the blog, or messing around with friends and family, instead of meal prepping.
    Erik @ The Mastermind Within recently posted…Blog Traffic and Income Report – January 2017My Profile

    • Thanks for sharing Erik!!! Someone at work today said I thought you were frugal but why do you eat out everyday. I said I budget for it plus it’s a mental health break for me. It allows me to come back energized and a lot of times it allows me to unwind some problems at work 🙂 Well worth the price in my book.

    • I’ll have to review that data to see if it breaks it out further. But I have a feeling that it’s definitely tilted towards dining out if the average millennial is like my friends 🙂

  2. Those stats you provide are very interesting and seem so high to me! I’m guessing this is because I am vegetarian and enjoy making my own food (plus I really do enjoy leftovers – especially when I batch cook, which saves me time during the week).

    Therefore, other than when we travel and I get to try new foods and restaurants, I get really bored with the often limited menu items where I live (aside from a few pretty fantastic restaurants!). My husband on the other hand would love to eat out several times a week (and tends to more than I do).

    One good compromise has been to substitute meeting friends out for a meal or a drink and instead making a big group meal. For me the main benefit of eating out is visiting with friends and trying new foods. And with a little planning and creativity, it is easy to accomplish both of these (for a fraction of the cost) at our own house. We have also paired these evening gatherings with other activities such as bike rides or heating up our sauna!

    • Thanks for sharing Unconventional Sustainability!!! I would definitely love going over to your house and hanging out in the sauna. I can’t remember the last time I had an opportunity to that. That sounds way better than a meal out 🙂

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