Growing up I was lucky to
have parents that always cooked. My family rarely ate fast food or went out to
eat at restaurants because, most of the time, we could make something better at
home. Sadly, when I went to college, I lost that privilege. My Sunday night
steak and potatoes dinner turned into some type of dining hall (blah) food. I
started to develop a love for eating out. I took interest in the artistry of
how menus were put together, flavors were paired, and the cooking craft in
general. Maybe that interest came from my parents’ love for cooking, or maybe
it came from me working in an Italian restaurant. Naturally, I sampled all of
that delicious food at one point or another (thanks Osteria Mattone). Anyways,
eating out is now one of my favorite “hobbies,” and I appreciate a nice meal.
I moved to Columbia, South
Carolina this summer, and I quickly realized that the amount I ate out would
have to decrease. Who wants to eat every meal alone? And I am paying for
everything on my own now… no thank you. I decided to do a cost analysis of how
much I spent eating out. My little “hobby” cost me practically a new Louis
Vuitton handbag- one that I have just so happened to have my eye on for a
while. I averaged the amount of
money I spent eating out (fast food, nice restaurants, and trendy smoothie
places were all included). $75 a week. That may not sound too bad, especially
because I make more than that with one day of work. However, if I was to spend
$25 less a week on eating out, that would save me an average of $100 a month. That
still may not seem like much to you, but multiply that by twelve months and you
get $1,200 a year. Now let’s throw in that compounding interest that I love (yay!),
and you save a whopping $1,200 a year. Invest that every year for 10 years at
7%, and you have just saved $19,820. All from eating a couple extra meals a
week at home instead of out!
I know some of y’all are
scoffing because you would never invest your own money.. That number may not
matter to you, but we will address the fear of investing in another article.
Keep that money in a savings account or a jar, even! Watch how it accumulates,
and all of the sudden you are $1,200 richer than your friends. I also
understand you have to eat. Lots of
people think that it is cheaper to eat out than buy groceries, but I am going
to squash that theory another day. I have to go make dinner and online shop with
all the money I am saving… Oh wait, I meant to say invest it!
Best,
Caroline
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