The Rising Cost of Dining Out: How to Save Money at a Restaurant
With economic strain in the US increasing, many people are shifting some of their habits to more effectively manage their budgets. One of the areas that has taken a hit is eating out. Inflation is on the rise, which means that the rising restaurant costs are influencing people’s dining choices. While eating out is a lot of fun, more people are considering the financial costs of doing so, in order to save some money.
Economic Factors Driving The Change in Dining Habits
While grocery shopping costs are also on the rise, these are not as fast-moving as the increased restaurant costs. For example, grocery shopping has seen a 19% increase in price since 2020, but this is out-matched by the 24% increase seen in restaurants and dining out. As such, it’s more cost-effective to shop and cook at home.
Typically, inflation increases when food costs rise. But for restaurants, while the cost of food increases, they still need to pay staff, and overheads. In order to make ends meet, or turn a profit, they need to increase the cost of a meal in order to cater to the increase in food costs. Unfortunately, this means that they often lose customers and business as a whole.
For some, eating out is now not possible. Many consumers have shifted the way they eat, choosing to cook at home to save costs. Some still opt for other alternatives, but rely on cheaper takeaway options, rather than eating in at a restaurant.
Pros and Cons of Eating Out vs. Dining at Home
Of course, there are many pros to eating out. For instance, it’s very convenient as there’s no cooking to be done and no clean-up after. It’s also a fun social experience, helps get everyone out of the house, changes the routine, and allows people to hang out. Visiting a restaurant is also the perfect time to try new cuisines or eat food you’re unable to make at home.
But, there are advantages to staying home too. When cooking at home, you can save a lot of money both on the food and travel costs. Additionally, your food at home can often be healthier, and you have better control over the portions. If you’re a good cook, you won’t have to wait as long either.
For many, takeout has become a middle-ground between the two. But, while it is convenient, it’s often not as healthy, and there are still rising delivery costs to content with.
How to Save Money While Eating Out
For those that still wish to go out for a meal now and then, there are ways you can save. One option is to choose from the daily specials or opt for going during a happy hour. This can mean getting a reduction on your overall bill, though you may have more limited choices. Another option is to split meals between people, or even only order appetizers instead of a full entrée when going out. If going out is a necessary part of being social, then it’s actually cheaper to go out for lunch rather than dinner.
Other options for making savings when dining in a restaurant include not purchasing expensive drinks or desserts. You can also look for restaurants with free kid’s meals if you’re a family, or make use of loyalty programs and rewards cards. Any leftovers you get, as restaurants often over-size, can be taken home and used for another meal.
In line with reward cards, you can also get discounts and coupons to use on the final bill. Sometimes this can be in the form of discounted gift cards. Many of these are easily obtainable if you know where to look. For instance, the restaurant vouchers and promo codes available on Discoup can be used when you make online reservations at specific restaurants. This can be applied to the dining experience without taking away from the quality of the food and the overall experience.
You can even stack discounts alongside restaurant deals and the use of a rewards card to get even more savings. For instance, couple your rewards for somewhere like TGI Friday’s to claim free items as you increase the points. Match this with a discount code from Discoup, and double-down by adding in a discounted gift card to pay for it all.
Eating in a restaurant doesn’t have to be gotten rid of simply to save money. By making informed financial decisions, and balancing the occasional restaurant trip with home cooking, you can still have both. Explore discounts and use smart dining strategies to stretch your dollars further.
