How do I save $1000 dollars this year? What money saving strategy can easily be implemented to achieve such a goal? Here is one simple and easy strategy that requires merely one small modification when placing your order.
Eating at home is typically the most economical option (next only to eating elsewhere with someone else paying or providing). However, as a family we tend to dine out fairly frequently and too often we spend too much. So when dining out I’d suggest the ordering of water over any other beverage. Soft drinks are evidently a highly profitable item for restaurants. By watching sales, we can purchase a canned soft drink from a store for around a quarter (even less if one uses a store brand – my boys enjoy Dr. Thunder from Wal-Mart). So if a family of four were to drink four soft drinks at home it would cost about $1.00. If a family of four were to purchase four soft drinks at a restaurant it would probably cost about $10.00 or more. And this additional cost can easily add up to $1,000 per year!
Allow me to explain, I am assuming that each restaurant soft drink costs $2.00. Check the prices at your favorite restaurant, it might be more! But if each soft drink is $2.00 plus tax (the tax is 8.25% in my hometown) that adds up to $2.17. $2.17 times four people equals $8.68. But then we have a tip; if we pay 15% that’s another $1.30 which added together brings it to a total of $9.98, or essentially ten bucks. Now let’s extend this over a year. If your family eats out two times a week and all four family members shift from soft drinks to water consistently, do you know what the savings would be? Are you ready? It would be about 1,000 bucks!! Dare I mention the potential savings over a decade? Yes, over $10,000!
Drinking the same number of soft drinks at home over the course of a year would cost $104. That too is a huge difference resulting in about a 90% savings over the restaurant soft drinks, while still consuming the same number of beverages. Is the sizzle of the soft drink that important to enjoy a meal? Perhaps it is, and if so then please continue. But after seeing the true numbers, some may want to reconsider such a purchase. A cold soft drink can be waiting in the fridge for when you return home and it will taste much better knowing how much it saves to consume it at home!
Below is the comparison:
4 restaurant soft drinks x 2 times per week = $1038 per year
4 canned soft drinks at home x 2 times per week = $104 per year
4 glasses of water x 2 times per week = $0 per year
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photo credit: Glass of Coca-Cola via Flickr cc License – 8/31/15 with no changes