This week, Craig Siminski, of Equity Design Group, shares with us on a topic most of us find appealing: Going out for Dinner or Lunch!
Sharing meals in your home or out on the town isn’t just about eating; it’s also an opportunity to spend quality time with friends and family. But whether you are a frugal home cook or a foodie who frequents the trendiest eateries, your dining habits can impact your finances.
U.S. consumers spend about 13% of their incomes on food. Everybody needs to eat, of course, but the amount each person spends on groceries and restaurant meals is somewhat discretionary.
According to a 2018 report by the NPD Group, about 82% of meals and snacks are prepared at home — significantly more than a decade ago. And despite a relatively strong economy, the estimated number of per-person restaurant visits (from fast food to fine dining) dropped to a 28-year low of 185. Per-person restaurant visits reached a peak of 216 in 2000 and have fallen steadily since 2008.
More Americans are focusing on healthy eating these days, which is easier to control when meals are prepared at home. Here are some other factors that may be influencing these dining trends…
Craig Siminski is a CERTIFIED FINANCIAL PLANNER™ professional, with more than 20 years of experience. His goal is to provide families, business owners, and their employees with assistance in building their financial freedom.
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