Money Magazine recently had a series of stats on restaurant bills.
Here are a few of the facts that caught my attention and my take on them:
Average monthly restaurant tab per household: $223
We are a bit lower than this ($200 a month) but we've really got it more under control the past few months -- more like 4125 per month.
It's an area we're focusing on and trying to get around $100 a month.
The average household spends 20% of disposable income on eating out.
We are nowhere close to this. For us it's one of our lower-level spending categories.
Rewards cards that offer the most cash back for eating out (then they list several with the highest being 2.5% cash back).
There's a new sheriff in town. The Costco credit card offers 3% cash back on restaurants.
In addition, the Chase freedom card offers 5% now and then as part of its rotating category list.
Menu items with supersize price markups: Soda (800%), pizza (800%), French fries (977%), and chicken noodle soup (1,650%).
I either don't eat/drink most of these (soda, French fries) or don't eat them out (soup). I have to admit, pizza is my weakness. :)
How about you? How do you fare compared to these stats?
Pizza at a good pizza place is just better. No shame in eating pizza at restaurants :)
Posted by: Josh Stein | July 25, 2016 at 11:21 AM
It is hard to beat a good pizza... :)
Posted by: FMF | July 25, 2016 at 01:41 PM
Since I rarely eat out and prefer homemade foods to the mark ups, I guess I have been saving quite a bit of $$. But more than that, I am eating healthier as well. No additives, artificial ingredients, no GMO (if I choose). I make my own pizza but do occasionally buy from a local vendor who I personally know and know what ingredients he uses. But I still only do that rarely maybe once or less per month. Since our society has evolved from doing it our selves at home to having others do it for us, mostly because each of us is working full time and therefore may no longer have the TIME to prepare our own meals, we have become unhealthier. Working 70 hours a week because we are expected to do so leaves us with little time to eat healthy, get the sleep we need, and the time to enjoy life each day. I personally feel full time should be 25 hours or less per week. We should have more time for family. More time to cook our own meals and get healthier.
Posted by: Donna S | July 26, 2016 at 10:57 AM
Discover Card also offers 5% off at restaurants one quarter per year most years. Between that and Chase Freedom, I usually enjoy that discount for six months of the year.
Posted by: Janice | July 26, 2016 at 11:09 AM
please send me the URL to your new site
Posted by: TW | July 26, 2016 at 01:13 PM
@Donna -- I'm thinking the same thing and am considering early retirement as a result. Many people who are rich in money are poor in time and I'm ready to make the trade (at least a bit).
Posted by: FMF | July 26, 2016 at 02:01 PM
Hey, Mr. FMF! I am a longtime fan of your blog and would like to read what you post on your new site, please. Sharing my email "in the box" and hoping that I make the cut!
Posted by: Carole J. | July 27, 2016 at 05:24 PM
We rarely eat out - maybe once a month? Just doesn't float our boat when we know we can eat better/healthier and for less $ at home. We do sometimes order pizza or pick up Subway - but eat-in dining is rare. Still under $100/month.
Posted by: sms114 | August 02, 2016 at 07:13 PM