Friday, February 21, 2014

Eating Out and Loving It.


Okay, okay - I know every financial planner tells you that you should not eat out too much, that you should be saving that money for your future. So, why is it so hard to stop going out to eat? What is it about the experience that makes us choose it over putting aside what we end up spending on a meal? I have identified five very beneficial reasons that families continue to go out to eat and love it.

1. It’s a social experience that gives you the opportunity to relax and enjoy the company of your family. Sometimes, you get the added pleasure of bumping into friends at your favorite restaurant, which adds to the whole ambiance.

2. Going out to eat relieves four points of stress: planning a meal, picking up the ingredients, preparing the food and cleaning up after cooking. Let's face it, when you dine out, all you have to do is pick something off the menu, and someone handles the rest.

3. That leads me to my third point: It also allows us to feel cared for. There is nothing better than going to your favorite restaurant and having someone else take care of you. Many of us spend our days focused on the needs of others – whether at work or at home – and, at the end of the day, it is just so pleasurable to have someone do something for you.

4. Dining out adds variety and diversity to our eating routines. Pleasing everyone in the family is difficult, and at least when you go to a restaurant, there is a variety of options. Each family member can pick what they like and can skip “mom’s meatloaf” for one evening.

5. Most families are consumed with more activity than time to accomplish it all. Eating out leaves families with more time to spend at work or attend to kids, or travel to and from activities.

So, when it comes to dining out, how can you eat your cake and have it, too? Take these three baby steps. 

1. Try to determine how much you need to retire. Here is a link to a simple calculator to get you started.

2. Set a goal for how much money you can save for the future every month and have it automatically drafted out of your bank account into an IRA account.

3. If you are not able to give up going out to eat, consider eating at more affordable places, or sign up for services like Living Social or Groupon that offer coupons for local restaurants. Keep an eye out for dining specials on social media like Yelp and Foursquare, too. After all, every bit helps! 

Feel free to give me a call to talk more at 980-275-1627.

Ed Coambs


Edited by Reena Arora of Arora Media, connect on Facebook
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