How much do you spend on restaurant food each week?
“I calculated it once, and I think it’s about $80. Sometimes I’ll cook more at home, but a lot of times if I’m working late hours, I’ll eat out every night.”
–Ben Keller, 23, Homewood
“I’m a grad student, so I tend to carry my lunch. I probably spend $25 to $30 at most. Before I was in New York City, and I’d spend a lot of money on cocktails and restaurants.”
–Matt Hamlin, 26, North Center
“About $60. It seems like a lot, especially when you’re on a diet. I used to never cook at all, and I would go out every day. I was spending maybe $200, $300.”
–Denise Franklin, 26, South Side
“Close to $100, $150 a week. Do I wish I was spending less? I wish my mom was cooking for me. It’s too much, but it’s because I work 60, 70 hours a week.”
–Tanvir Rahman, 25, River North
…OR BANK IT
Think a few meals out a week doesn’t add up to anything substantial? Think again. Using a personal finance calculator from abcnews.com, here’s how much you can save by cooking for yourself more often: Assuming you are 25 and cut back your dining expenses by $50 a week … (if you retire at 67, earn a 6 percent average on your savings/investments and in the 33 percent tax bracket).
– Average annual savings: $2,400.
– Savings after 10 years: $29,406.
– Value at retirement: $259,108.
Fire up the grill!
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Edited by Lara Weber (lweber@tribune.com) and alBerto Trevino (atrevino@tribune.com)
