Summer’s here, and with the kids out of school entertaining them isn’t the only challenge — so is feeding them!
Eating out, whether you have kids or not, can seem overly attractive during your busy days and nights, but is the price of convenience subtly draining your bank account or worse yet adding to your debt? Here are a few ways to find out the actual cost of eating out versus fixing meals at home…and it just might be costing you more than money.
1. Count the financial cost. Spending “a few dollars” at the drive-thru every day or even a few times a week may not seem like much in the moment, but it adds up. Let’s say you make three fast-food stops each week for a month and spend only $5 each trip. That’s almost $50 in drive-thru meals alone and doesn’t include the two or three sit-down “family dinners” at your favorite restaurant — or the gas it takes to get there!
Once you know how much you actually spend on eating out, revisit your budget to see whether or not that number falls within the guidelines you set for yourself and your goals.
2. Count the relational cost. While it’s no secret that “quality time” with families has been drastically redefined over the years, the proof is still irrefutable that the families that eat at home together have not only healthier lifestyles, but they also have healthier relationships. Communication, trust, and even life skills are honed around the dinner table, not to mention the increase in self-esteem and confidence in kids of any age. While spending genuine quality time with your family is something that can’t be measured financially, you will be instilling healthy life and financial habits in your legacy and the generations that follow. And that is priceless.
3. Do a three-month comparison trial. Don’t just take my word for it. Prove for yourself the “theory” to be either true or not. Once you have your eat-out expenses tallied, try a meal planning and meal prep cost analysis for three months and see which is actually more cost effective both financially and relationally. Involve the whole family in deciding what foods to buy, in planning and preparing for activities that require “on-the-run” meals, and even in deciding on the best weekly meal prep plan for your family’s schedule.
You’re in control of your time and your resources, and awareness is the first step toward making better choices for your family, your finances, and your future. Revamping your spending habits can be daunting to say the least, but you never have to go it alone. We’re here to support you each and every step of the way!