Eating Out, But Can’t Seem to Save Money?

Eating out is a lot more fun to do that putting your money in a savings account. Usually, all you have to do is sit down, look at the menu and order whatever you want. The food is normally delicious, and didn't require that you put any effort into its preparation. What's not to like?

One of the things I've seen is that most people don't realize how much they spend on eating out. If you use a credit card to pay for your meals, look at your credit card statements for the last three months and add up amounts paid to restaurants. Multiply by 4 to get an estimate of how much you spend in a year.

Is the number impressive? I'm not asking you to stop eating out, and put all of that money in a savings account. It may work in the short-term, but eventually you may return to your old ways. But, you should ask yourself if you can reduce your restaurant bill by either limiting the number of times you eat out, or by setting a "dining out" budget.

If you find that you are averaging $200 per month, try setting a budget of $180 per month and putting the $20 in a savings account. After a year, you'll have an additional $240 in your savings account.

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