Where do you spend most of your money? Is it restaurant tabs? Clothes? Travel? Putting aside your mortgage/rent, which is often non-negotiable, where we spend our money says a lot about us. And it is a giant arrow pointing to where we can save.
Answer this quick question with me.
Log on to see your latest credit card statement (or pull out the paper bill) and do a quick scan. Then add up the charges in the category that appears the most often. Your bank may even do this for you.
For me, it is restaurant bills. Okay…crunching numbers…
Phew! It’s not as bad as I suspected. Of 62 charges on our last complete statement (across both of our credit cards), 28% of the charges were at restaurants. That seems like a lot. But of total dollars spent, $259 of the $1,986 paid was for prepared food. (I included coffee at Starbucks and Dunkin Donuts on top of meals and drinks out.)
THIS DOES NOT INCLUDE GROCERIES. So my total spend on all food would be much higher, but that’s a whole nother topic.
Here’s what my big ol’ restaurant tab says about me.
1. I eat out a lot. Duh!
2. Eating out is an easy way to socialize, so it’s a default for me. “Hey, wanna grab a bite?”
3. I could be better at ordering low-price menu items, or eating before hand and sticking to appetizers. It’s too tempting to rationalize a nice juicy steak. “Well, I’m already here, so what’s another $4”?
4. I should take my own advice and use these 19 tricks to avoid eating at restaurants.
5. I could brainstorm a list of ways to see my friends without spending at restaurants!!!
What is your biggest spend category? What does it say about you?