Restaurant spending is the largest potential source of savings for most couples, according to financial expert and self-made millionaire Ramit Sethi.
“For 90% of the people I talk to, food — whether eating out or ordering in — is the biggest category where there’s money to free up and redirect into something that matters more,” Sethi told CNBC.
The author and Netflix host identified a host of factors that make dining expenses particularly difficult to control. “Food is emotional — buying dinner is about a lot more than just hunger. It’s about convenience, impulsivity, reward and more,” he explained.
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Tracking those expenses proves especially challenging for couples. The spending often happens across multiple payment methods, locations, and circumstances—from workplace lunches to family pizza nights, social outings, and children’s meal money sent through payment apps.
“It’s a mishmash, and it can easily get away from you,” Sethi said.
In his new book “Money for Couples,” Sethi outlined a 10-step program for partners to develop shared financial vision despite differing money perspectives. He recommends couples consolidate restaurant spending on a single shared credit card to improve tracking and visibility.
Several individuals who worked with Sethi shared their strategies for reducing food spending. Mary found a meat delivery service that enabled more home cooking during weeknights, allowing guilt-free weekend dining.
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Lauren, someone who worked with Sethi, created themed potluck dinner parties to capture restaurant ambiance at lower cost. Rosana implemented a twice-weekly cooking schedule with planned leftovers, directing her savings toward credit card debt reduction.
“We were eating out at least five to six days a week; the only meal we were making at home was breakfast!” Rosana, another colleague, told Sethi. “Now, we cook every Wednesday and Sunday and we eat leftovers at least one night, which saves us a ton of money.”
The financial expert said that changing food habits requires partners to be “kind and supportive of each other,” noting that “changing habits around food can be tricky.”
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Sethi recommends couples start with honest conversations about spending patterns, “what are you spending too much on? Where can you cut back?”
