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Popular financial expert Rachel Crews regularly offers a variety of advice to her many followers. And for the most part, her fans appreciate her insight.
But even she admits that some advice tends to spark a wave of anger.
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In her trademark style, Cruise embraced the backlash in a light-hearted segment on a recent episode of her podcast, The Rachel Cruise Show, where she revealed her “least favorite” piece of advice and quickly defended it. did.
She noticed that whenever she mentioned a particular topic, naysayers and skeptics tended to pop up. That topic? When you’re on a budget, you should eat at home instead of eating out.
“Obviously, this really motivates people,” Cruz said.
For some reason, the idea of eating at home instead of going to a restaurant when you’re on a budget tends to ruffle feathers. If you’ve ever considered setting a budget, you’ve probably learned about the importance of finding ways to save money on food. But with the growing popularity of food delivery apps, it’s easier than ever to rely on takeout food when it’s dinner time.
Here’s why Cruz thinks eating at home should be a non-negotiable when you’re trying to save money.
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restaurants raise prices of food
Cruz said restaurants, on average, mark up food prices by 28 to 32 percent. These establishments are trying to make a profit, so they have to increase the prices they charge their patrons.
This means that when you eat out, you end up spending a lot more money on the food than if you prepared it yourself. If on meals he always spends about 30% in addition, it will be difficult to achieve financial goals. Spending more money on food than you need can cause problems with your budget because you’re leaving money on the table.
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Tipping too much
Mr. Cruz brings up tipping and “guilt tipping” when paying for a meal at a restaurant. This is because takeaway meals also cost more. Some people tip up to 25% on the bill, making the meal much more expensive than if it were cooked at home. This gratuity also affects takeaway meals as you are given the option to do so when picking up your meal.
Cruz brings up other ways to give generously. But she says she shouldn’t spend an extra 20% on food when she’s trying to pay off her debts and get ahead. She also mentions how she avoids her whole inner struggle of how much to tip by just eating at home. Given her inflated restaurant prices and high tips, she may find herself spending a lot of money that could have gone toward paying off high-interest credit card debt.
Prepare healthier meals at home
Cruz says you can prepare much healthier meals at home compared to what you eat when eating out. She talked about how restaurant meals often contain extra butter and salt to enhance the flavor of the meal.
Cooking at home burns fewer calories, which is better for your wallet and waistline. Eating at home also reduces your intake of salt and additives. If one of your goals is to prioritize your health, you’ll want to be in control of what you put in your body. Eating healthy foods that aren’t high in salt will also make you feel better and have more energy.
Cooking your own meals provides an outlet for creativity.
In addition to financial savings, Cruz says you can also use meal prep as a creative way to have something to look forward to.
You can search for meals on social media and have a fun ritual of preparing the food with your family at home. Cruise reminds listeners that eating at home doesn’t have to feel like a punishment. She can make delicious food for a cheaper price than going to a restaurant.
Meal planning is the best way to save money
Cruise ended the episode by saying that meal planning is the best way to save money. She advises listeners to check her personal schedule a week in advance to plan her meals.
If you prepare your meals in advance, you won’t have to spend money on takeout or food delivery apps. Planning can help you save money by knowing what to eat at each meal. If you don’t plan ahead to eat out, it’s easy to turn to takeout when you’re hungry and have no choice. If you always rely on takeout meals, you’ll end up spending more money on inflated restaurant prices and tips.
lastly
There’s no denying that if you’re on a tight budget, you’ll get better results by preparing your own meals instead of eating out frequently. It’s okay to treat yourself once in a while, but a habit of eating out all the time can hinder your ability to reach your financial goals. You don’t want to run out of debt because of your eating out habits.
“There are some principles that I stand for, but the haters are going to hate,” Cruise jokes. “that’s ok.”
GOBankingRates Details
This article originally appeared on GOBankingRates.com: Rachel Cruz defends her most hated financial advice: ‘It’s a no-brainer’
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