Wednesday, March 29, 2006

A thought about this weekend:

So I went away this weekend and heard one of the most horrifying quotes ever: "Yeah, my girlfriend is a vegetarian and I can't cook, so I go out to eat for lunch and dinner almost every night."

I cannot think of many worse ways to spend money than to go out to eat everyday. Think of how much money you are wasting in doing that? Not only are you paying probably double what you would pay to make food, but you also waste gas and time going to and from the place. He isn't going out to fast food places and getting the dollar meal either, he is going to Panera a lot of times and Subway other times. Looking back at my last job and how much money I spend on getting lunch every day, I can't imagine doing that every night as well. I feel so stupid knowing that I went out to lunch 3 days a week and wasted $21 or so every week. Now if he spends 7 dollars for lunch and dinner every weekday, that's $63 just on his food, plus if he takes his girlfriend out to eat for dinner Friday, lunch and dinner Saturday and the same again Sunday, that's probably another $175 for a grand total of $238 a week!

How about instead he just puts that into a checking account? He would have over $12000 every year! Now imagine the possibilities if it were to go into an index fund at the end of each year and earn around 8% every year? After the first year he would earn over $1000 on his investment. If he invested the $238 a week into the index fund instead of a lump sum at the end of each year he would earn even more money. So tell me again why you would go out to lunch every day, or three days a week, or more than one or two days every week?

Track your spending and cut out most of the unnecessary stuff today!


At 1:22 PM, Blogger Stacy said...

actually, for people who don't enjoy cooking, I think eating out most meals makes sense. you *can* cook at home for cheap, but it can also be expensive. plenty of times when I cook dinner I spend more on ingredients than I would spending $5 on pizza or takeout Chinese or whatnot. this is one of those areas where I think it's a personal judgement call -- if you hate cooking, the time you save with takeout can be worth the extra cost, which can be pretty minimal if you want it to be.

At 6:08 AM, Blogger Mike said...

I agree that cooking at home 'could' be more expensive than eating out, but you are not comparing the same things. You can't compare cooking a steak, salad, rice and a pie to going out and getting a pizza. If you want steak, you will go out and get steak, and 90% of the time it will be cheaper to cook steak at home then go out. This doesn't mean you should never go out to eat, I love going out to eat, but I limit it to once or twice per week.


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