The real cost of dining out
Bundle: Parents go out more than you might think, dinner with the grandkids is a struggle, and where you live matters. A lot.
Among the obvious budget busters, dining tops the list. A week's worth of homemade grilled-cheese sandwiches costs about what you'd spend on the same lunch at the diner. Add tax and tip, and you're looking at a 25% surcharge, not even considering profligate splurges like -- gasp! -- a Pepsi.
- Bing: Find restaurant coupons
Data from MSN partner blog Bundle.com shows, not surprisingly, that as people make more, they spend more on dining out; as they make less, restaurants command less of their dining dollar. Here's what is shocking:
Married couples with kids spend more on restaurants than married couples without kids. So much for the perception that having kids puts an end to the occasional night out. Parents spend an average of $279 a month on restaurant food; non-parents spend $242, saving $444 a year. (In the graphic below, for households that make $50,000 to $75,000 a year, it's a $18 monthly differential.) Parents, are you more aware of the need to go out on the town once in a while -- with or without the kids? Or are you spending the extra money to have the privilege of not cooking dinner one night a week?
There's a reason the grandkids may balk at dinner with their grandparents. They don't like the same places. None of them. Given their druthers, 18- to 25-year-olds (solid blue in the graphic below) will spend their dining dollars at McDonald's, Subway, Starbucks, Panera Bread or, for sit-down dinner, Chili's. The 65-and-over set (in stripes, below)? Olive Garden, Applebee's, Red Lobster, Cracker Barrel and Outback. In fact, seniors are the only demographic for whom McDonald's and Starbucks don't crack the top five. Does a Big Mac lose its appeal in retirement?
When it comes to dining out, where you live matters. A lot. Spending on restaurants varies widely all across the country. As just one example, residents of Austin, Texas, spend almost $200 more per month on dining out, on average, than people who live in Seattle. That makes for some head-scratching patterns: The monthly restaurant spending for an average Austin household with an annual income between $40,000 and $50,000 is about $455. In Seattle, a household has to earn twice as much to hit that spending threshold.
- Video: 'Fast' casual dining
Table for two, please! More from Bundle on eating out:
- Money etiquette: I bought you a Grey Goose-and-tonic. You bought me a Coors Light. Is it really my turn again?
- Is it more romantic to eat in or go out?
- Will pay for coffee. Early, often and repeat.
- What I learned in college: Eating Out 101.
- Foodie fight! San Francisco vs. Los Angeles.
Editor's note: Janet Paskin is Bundle's managing editor. She will report back regularly to MSN Money about spending trends and how America spends and saves. She can be reached at email@example.com.
Copyright © 2013 Microsoft. All rights reserved.
Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.
ABOUT SMART SPENDING
LATEST BLOG POSTS
Which store penalizes you for too many returns? And which one will let you retroactively apply coupons?