Dining out just about every night can put a lot of strain on the family finances when it comes time to figure out the monthly budget. That money would be better served paying off high credit card debt or being put into a savings account for an emergency fund.
Dropping $20 on a family fun night out is not a bad thing. But it has to be done in moderation to hold the budget together.
So how should the average family tackle the nightly dining out problem? Here is some advice I give to my clients.
1) Budget out what you would like to spend for the family meals. I tell my clients to plan for $100 per family member per month. So if you get paid semi-monthly and have 4 family members (including yourself), then you would budget $400 per month on meal planning.
2) Create a meal plan that will meet the needs of your family. You decide how you want your family to eat. The meals need to be things that you are willing to make on a nightly basis. You can decide your meals on any criteria you want.
3) Develop a shopping list that will purchase the basic groceries you need to support your meal plan. Stick with the budget and avoid purchasing more than what is needed.
4) You have an option to pre-cook your meals for the week. This is an option that I use every Sunday. I cook all my meals for the week and store them in microwavable plastic wear to be warmed up once I get home from work. This saves me a lot of time and makes sure I do not fall into the “I am too tired to cook” mentality.
5) My final piece of advice is to use the leftovers as your lunch the next day to avoid purchasing your lunch at work. Thus saving you more money in the long run.
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