Is it lightening your wallet a little too much?

Do you like to eat out at a nice restaurant once or twice a week? That habit may be costing your household more than $500 a month. Zagat says the average restaurant meal in America cost $36 last year. The national average tip was 18.9%, meaning that even a solo diner spent an average of $42.80 for the experience. Foodies may be allocating even more of their budgets to fine dining. The average respondent to Zagat’s 2016 National Trends Survey reported eating out 4.5 times a week, with 85% saying they had planned dining getaways out of their area (effectively adding fuel costs to their tab). Even if you simply stop at fast casual eateries, the cost of the meal may be multiples greater than that of home cooking.

If you are eating out less these days, you are part of a trend. According to a new Reuters/Ipsos poll, a third of Americans say that they are eating out less in 2017 compared to 2016, with 62% of them citing cost as the top factor.2,3

Mike Moffitt may be reached at Phone# 641-782-5577 or email:  mikem@cfgiowa.com

Website:  www.cfgiowa.com

This material was prepared by MarketingPro, Inc., and does not necessarily represent the views of the presenting party, nor their affiliates. This information has been derived from sources believed to be accurate. Please note – investing involves risk, and past performance is no guarantee of future results. The publisher is not engaged in rendering legal, accounting or other professional services. If assistance is needed, the reader is advised to engage the services of a competent professional. This information should not be construed as investment, tax or legal advice and may not be relied on for the purpose of avoiding any Federal tax penalty. This is neither a solicitation nor recommendation to purchase or sell any investment or insurance product or service, and should not be relied upon as such. All indices are unmanaged and are not illustrative of any particular investment.

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Michael Moffitt is a Registered Representative with and Securities are offered through LPL Financial, Member FINRA/SIPC. Investments advice offered through Advantage Investment Management (AIM), a registered investment advisor. Cornerstone Financial Group and AIM are separate entities from LPL Financial.

2 – zagat.com/b/the-state-of-american-dining-in-2016 [1/26/17]

3 – fortune.com/2017/02/22/restaurants-eating-out-americans/ [2/22/17]

 

 

 

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