With the nation experiencing a cost-of-living crisis, what does this mean for Brits across the UK who love eating out?
In the daunting face of inflation, the need for cutting back has become more and more prevalent.
But how are we supposed to maintain a healthy budget, without compromising on a splendid meal out?
Online Betting Guide (OLBG) explored this with their Discretionary Spend Index. The OLBG Index revealed that Brits spend an average of £924 a year on eating out (2021/22). This takes up almost 7% of the average person’s entire discretionary spending and over £200 more than the previous year.
Considering we’ve just descended into a cost-of-living crisis, it appears we’re comfortable forking out even more cash now when we should be keener on keeping it in our pockets.
So why are we spending more than we ought to? And an even bigger question – how do Brits start spending less on their delicious dining?
In answer to that question, we’ve put together these top money-saving hacks, to help you get your meals out – and your budget spending – back on track.
Space Out Your Eat-Outs
One of the simplest, yet most effective ways of saving money on your meals out, is to have them less frequently.
So often it’s easy to get swept up in the vast sea of delicious food in your area, with delicacies from every corner of the planet, right within your reach.
Sounds tempting right? Tempting enough for you to want to eat out every week – or even daily.
However, this frequency of meals out is simply not feasible for a budget constrained by the grip of a cost-of-living crisis. Therefore, you need to cut down on how often you dine out.
Try saving restaurant meals for special occasions, such as birthdays or life achievements.
And don’t underestimate the quality of a good, well-planned, home-cooked meal, as these often can satisfy your hunger for half the budget.
By making these simple changes to eating out, you’ll end up making massive changes to your bank balance at the end of the month.
Deals or No Deals
When it comes to eating out, deals and vouchers are crucial companions.
You’ll be surprised how much money you can save with a restaurant discount, whilst still getting all the mouth-watering dishes you came for.
Apply this to every meal out, and you could save big in the long run.
When choosing a restaurant, ensure you look at all your voucher options, to see which one offers the best bang for your buck.
For instance, this could include 2-for-1 deals, 20% off, or even a whole free meal if you’ve racked up enough reward points (think Chilli rewards at Nando’s).
By taking full advantage of all the amazing deals at hand, you can give your wallet a break whilst you munch away at your favorite places.
Spare the Booze
We’re all guilty of it. Dining out at a restaurant and having a real tingling for a sweet wine, or maybe a craving for a flavor-hefty beer.
However, the struggle for every beverage lover arrives the same time the bill does. In a cost-of-living crisis, can we afford the high price of booze on our meals out?
Aside from your main dish, alcohol is often the second biggest expense at restaurants – sometimes it can be number one.
Therefore, it’s important for both you, and your bank balance, to spare the booze when you eat out.
Go for a soft drink instead, or even some water on tap which is usually free.
If you really want a nice alcoholic beverage for the evening, why not buy from a shop (at a much cheaper price) and have a night-cap at home.
When you start to become more strategic with your drinks, you’ll start reaping the benefits of a healthier budget.
These essential money-saving hacks will help out when eating out, so be sure to consider them the next time you want to dine out at your go-to restaurant.