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Currently, my wife and I eat out at regular restaurants about 4 times a week. On average we spend about $25 a meal per person, so that would equal about $200 a week for both of us.
After looking at our credit card bill for eating out, we asked each other if it was really worth it. My wife asked how much would each of these $25 meals cost if we cooked them and bought the food at the grocery store. (Equal quality food and ingredients) Is it worth the hassle to eat at home for most of our meals to save money? We eat out so we have more variety in our food, etc.
Let's say having that meal that costs us $50 combined at home costs us $10 from the grocery store. So we would save about $160 a week. If we invested that money saved in the Stock Market over a five year period how much would we have?
Currently, my wife and I eat out at regular restaurants about 4 times a week. On average we spend about $25 a meal per person, so that would equal about $200 a week for both of us.
After looking at our credit card bill for eating out, we asked each other if it was really worth it. My wife asked how much would each of these $25 meals cost if we cooked them and bought the food at the grocery store. (Equal quality food and ingredients) Is it worth the hassle to eat at home for most of our meals to save money? We eat out so we have more variety in our food, etc.
Let's say having that meal that costs us $50 combined at home costs us $10 from the grocery store. So we would save about $160 a week. If we invested that money saved in the Stock Market over a five year period how much would we have?
Hypothetically, $160 a week at 7% grows to almost $50k after 5 years.
Why not split the difference? Eat out once or twice a week (it's a social thing too, not just a meal) or get take out sometimes from your favorite restaurants.
1) Reducing meals out is a popular strategy for those looking to reduce their expenses.
2) Nobody can tell you how much money you will have after 5 years of investing. How would this be possible? We don't know what you plan to invest in, nor can we predict the market.
If you could live without pulling over, hunting for a parking space, waiting in two lines, and paying $4 for a 69 cent cup of coffee on the way to work (even though your boss offers free gourmet coffee at work), you could save even more.
I don't care to do the math for the potential amount in the stock market, but even if you just saved that money (without counting interest) you would have $41,712. To me that is a boatload of extra money to add to your retirement funds or to save for emergencies.
And, I bet that a couple that spends $200 a week on restaurant meals probably has excessive spending in other areas.
And, as another poster mentioned, you can always still go to restaurants occasionally, especially to cheaper restaurants, and still save a substantial amount of money.
Nah OP. keep doing as you are. Your doing fine. In 20 years or so look back and think of where you'd be, versus where you are.
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