Managing Money: Food for Thought
Financial Advice Matters Managing Director, Darren Smith reflects on practical ways to save money when dining out.
The pandemic has impacted eating and dining habits. For many with discipline, it has created some additional savings with restrictions in place. For others it has diverted the spend to other areas.
Many Australians, including myself like to spoil themselves and dine out. In my case it is great opportunity to enjoy time and new food experiences with my wife.
What we all need to appreciate is that the choice of dining out is more than likely costing us double what it would cost to prepare a similar meal at home. Assuming of course that we have the skills, equipment, and time to do so.
For many dining out can put a drain on finances. However, a little planning goes a long way.
Here are some tips on how to save in this area:
Have a monthly budget & stick to it
Don’t spend what you have not got
Do your research & be aware of special deals – 2 for 1, kids eat free, cheap Tuesdays
Review menus online in advance
Register with your favourite spots – be on notification alerts
Take advantage of vouchers – Groupon, Scoopon, saver dockets etc.
Be on the birthday list - many venues have birthday discounts for regulars
Bring on cheap Tuesday - Mid week tends to be cheaper than weekends
Breakfast and lunch tend to be cheaper than dinner
Savour the shared experience and share an entrée or dessert
Consider the BYO option as drinks can be a large part of the bill
Age can make a difference – many venues offer discounts for over 50s
Have the outing experience – have a picnic!
Tap into quality food & avoid the impulsive extras add on
Family and friends dining out – Manage expectations in advance by knowing how the bill split will work
Don’t waste it – have a leftovers container to spread the benefit
Dine out at a relative’s / friend’s home
Use gift cards where you may only have to pay 90% of the face value of the card
Share entertainment books
Take advantage of member discounts – National Seniors Australia is just one of many
There are so many ways to save in this area. I look forward to prompting others to share what works for them.