Kids Eat Free Sundays
October 13, 2010Sunday is my favorite day of the week. Not only is it a day I get to worship with my family, but it is also the day that kids eat free at the local sub shop. Now I’ve got four children (the oldest who just turned 12) and as many of you can attest it can be very expensive feeding such a crew. In fact, my last trip out for lunch cost me over $75, and I didn’t even enjoy an adult beverage. The truth is dining out can be one of the biggest drains when it comes to the family budget. When we think about how much we spend each month it’s easy to come up with figures for things like housing, utilities, cell phones, etc., but dining out is one of those expenses that is easy to underestimate. We might think we have a good handle on it, but let’s test ourselves to be sure. I’m guessing that my household spends about $150 a month going out to eat. This is based on my belief that I spend about $75 per meal, and we eat out about twice a month. (I’m married to an Italian women who is a phenomenal cook, so don’t act so surprised.) I’m going to go check my online bank account and while I’m gone why don’t you go do the same. Pull out last month’s bank statement, or go online, and see just how much you spent eating out last month. We’ll compare notes when I get back…
So, how’d you do?
According to my records, last month we spent approximately $232. Now that doesn’t count the ice cream cones and soft pretzels and other ‘snacks’ my kids are constantly asking for, which could easily add another $10-20, but it is certainly more than I expected. In my defense, I did have guests visit earlier in the month, and being the good host that I try to be I took them out for dinner, but isn’t that always the case? Aren’t we always coming up with a reason why last month is an exception? When the kids are hungry and we are away from the house, it’s so easy to pop into the local fast food restaurant. So how can I make sure we don’t spend more than we plan to (or can afford to) next month?
Well, the solution might be easier than you think. Rather than reaching for your debit or credit card the next time you go out to eat, why not reach for your ‘Dining Out’ envelope. What is a ‘Dining Out’ envelope? I’m glad you asked. If Susan (my wife) and I want to make sure we don’t spend more than $150 a month in dining out, we need to not give ourselves more than $150 to spend. I can’t think of a better way to do this than to simply put $150 cash, every month, into an envelope marked ‘Dining Out’. It’s simple, but effective.
Using cash to pay for things has worked ever since cash was invented, so give it a try. If it doesn’t work for you, you could always find yourself an Italian woman who likes to cook, or just wait until Sunday.