A recent Bankrate report shows that 56 million Americans have been in credit card debt for at least a year. There’s a certain financial expert that says if you have debt, you should not see the inside of a restaurant unless you are working there. I disagree.
Dining out can be a strategic component of maintaining a lean kitchen and a financial freedom plan that sustains in the modern world where parents are working full-time, and singles are experiencing the highest rate of loneliness in history.
While cooking at home is generally more cost-effective, the habit of keeping a dining allowance in your budget can be great for your money goals. Eating out three times out of 21 meals a week won’t be detrimental. Here are four ways that eating out can be a strategic part of your budget and your plan for financial freedom.
Strengthening Cultural Ties
As a Filipino American who doesn’t speak the language of my ancestors and who’s only been to the Philippines once, food is one of the few connections I have to my family’s heritage. In my current hometown of Charlotte, North Carolina, there is only one Filipino restaurant that’s not located conveniently. So, when I visit cities like Las Vegas or Los Angeles, you will likely find me supporting the local Filipino bakeries and restaurants to not only support my fellow Filipinos, but because the food feels like home to me.
My husband and I also like pop music and dramas, popularly referred to as K-Pop and K-dramas. So, when there was a tour in Korea for Americans, we jumped at the chance. Aside from seeing our favorite drama shooting locations, the best part of the tour was sharing a variety of Korean meals with our tour mates every day.
From Korean fried chicken to street food to making our own bibimbap, our culinary adventures helped us learn about this foreign culture in lieu of buying souvenirs that would just collect dust back at home. Replacing some of your more materialistic purchases with cultural dining experiences can help make your budget feel more exciting to stick to each month.
Conscious Health Choices With Portion Control
Many people will say that it’s hard to order healthy food when you’re eating out, but I disagree. Nowadays, there are so many great healthy dining options that accommodate any diet you can think of. I have several food allergies including shellfish, peanuts, tree nuts and even soy. It used to be hard for me to find places to eat that were sensitive to these allergens. But now many places have simple signage and staff members are trained to at least ask about the allergens before serving.
The key to staying within both your financial and calorie budget is to be conscious of portions. U.S. portion sizes are generally larger than the rest of the world, Business Insider reported.” It’s clearly a culture of quantity rather than quality.
If you have a bland or mostly American palette, then I would agree that eating healthy while dining out can be a challenge. There are many healthy options in other cultural cuisines including Latin, Asian and Mediterranean restaurants.
One of our favorite Mediterranean restaurants serves huge heaping grain bowls with tons of vegetables and protein for around $15. We’ve been able to make three meals out of it every time we buy it, coming out to $5 per meal – way less expensive and way tastier than if we were to try and replicate the same dish at home. Challenge yourself to see if you can make two or three meals out of your dining-out dishes — it may be cheaper than cooking the same meal at home.
Conserving Time And Energy
Two-thirds of Americans (67%) feel guilty when eating out, according to a new OnePoll for the fast-food chain Habit Burger, which was featured by The New York Post. While I am a huge fan of meal prepping, many of my financial education students simply don’t have the time and energy for all that chopping, cooking and cleaning dishes. Dining out can be a smart strategy about conserving energy if you’re a high-earning professional. It may make more economical sense to eat out so you can use your precious time and energy to grow your income.
I once worked for a CEO who ate a plain chicken breast and salad every day for lunch. No matter wherever we went he would order the exact same thing. At first, I thought it was boring. But I observed him making CEO-level decisions every day, working out consistently and being the breadwinner for his extended family including his sister and parents.
Dining out may also be an energy saver for busy families. I also remind students who are also moms that they are not bad parents if they can’t home cook every meal for their kids. It’s often the moms who are still expected to maintain homes as though they don’t work full time. It makes sense for you to order in that pizza once in a while so you can enjoy more time interacting with your kids than loading the dishwasher. As long as it’s part of your planned budget, you don’t have to feel guilty about it.
Combatting Loneliness With Connection
In a new global Meta-Gallup survey, 24% of people reported feeling fairly or very lonely. Dining out is one of the best ways to foster social connections and relaxation, enhancing our overall emotional well-being. Meals bought thoughtlessly and out of convenience aren’t the same as meals to share with friends and family. Coffee you buy just to get through your day is different from coffee with a friend to catch up after a while. There’s no shame in buying either, but the latter pays dividends that feed your human need for belonging.
That being said, dining out can get pricey if you don’t have an intentional plan around it. I challenge you to incorporate eating out once to three times a week. Dedicate at least one meal toward reconnecting with someone you care about. Instead of eating at an expensive restaurant, you can:
- Take advantage of happy hour deals instead of the full-price menu;
- Try a cuisine from a country you hope to visit together some day;
- Swap dinner dates for breakfast dates that are much more affordable;
- Grab some ice cream and take a walk together; or
- Support a sandwich shop and choose take-out for a picnic in the park.
The bottom line is this: Eating has become a mindless activity for many of us in an increasingly digital world. By incorporating dining experiences into your monthly zero-based budget, you can leave the shame behind and indulge in culinary outings without compromising your financial goals.
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