Mr. Penny Pincher: The Cost of Convenience

Americans are addicted to convenience. We routinely purchase items for double and oftentimes triple the price of what we’d pay for the same thing at home. Nowhere is this more evident than the amount spent on food. 

Rather than make a coffee at home for a fraction of the price, we gladly hand over $5-6 for the privilege of purchasing one at Starbucks. Instead of making spaghetti, a dinner that costs around $10 to feed a family of four, we’ll drive to our favorite Italian restaurant and spend five times the amount so we don’t have to cook. 

I get it. It’s difficult to plan your life out on a daily basis. The stresses of work, family and life in general can take over. It’s convenient to have someone else do the cooking, purchasing and cleanup. Eating out allows us to relax and be served what we hope to be a great meal at an affordable price. The question is, what’s affordable nowadays? 

When I say price, I’m not just referring to the cost. Our health should be factored into the equation as well. Cooking and eating a turkey burger with a side salad at home far outweighs the convenience of a Big Mac and fries when it comes to our health. The turkey burger may take some effort and may not taste as good to some, but this option will save you money and provide a greater benefit to your overall health in the long run. 

Fast casual restaurants have become all the rage over the past 15-20 years. Panera Bread is a great example. Panera serves fresh food at an “affordable” price in a moderately upscale atmosphere compared to the standard fast food restaurant. I won’t argue that a grilled chicken sandwich and side of soup is better for you than a greasy fast food burger, but what are you really paying for? Is it the soup and sandwich or the fact you don’t have to make it yourself? The short answer is, you’re paying for both. 

Consider the fact that you can buy a loaf of bread and a pack of American cheese for less than $5. The bread and cheese would allow you to make 8-10 sandwiches, each sandwich would cost you $0.50-.060 a piece. Throw in a can of soup for each person and you’re still under $2. Making grilled cheese on the stove top and throwing soup in the microwave is just about the easiest quick meal I can think to make. 

A grilled cheese and soup equivalent at Panera will cost you $7-9. Even crazier, it’s not even the same amount of food. The $2 meal at home includes a full sandwich and can of soup, the meal at Panera includes a half sandwich and a cup of soup. You’re getting less and paying an exorbitant convenience fee. The ridiculous thing is, preparing a grilled cheese and soup involves very little actual cooking. Slapping a piece of cheese on bread and opening a can isn’t cooking. At best, it’s food prepping. 

There are times when eating out makes sense. When we’re pressed for time, my family loves to eat at Jersey Mikes.  There’s something about a freshly made sub sandwich that’s hard to replicate at home. Having said that, my heart sinks every time I see the bill and we’re spending almost $40-45  for 4 sandwiches. Half the time we don’t even get drinks and a side and the bill is still hovering over $40. 

For this reason, we’ve made eating out a treat in our house. It’s definitely not the norm. Cutting back on our “eating out” budget saves us hundreds of dollars each month. It’s incredible how quickly $5-10 here and there adds up. Taking accountability for your expenses and tracking what you’re spending can be eye opening. 

With the holidays around the corner, it’s easy to fall into a convenience rut and spend more than we should rather than putting forth the effort to cook a meal at home. This is understandable, but a little forward thinking and pre-planning could save you hundreds this holiday season. 

With money in the bank you can spend your hard earned cash on more important things.

Does anyone know where I can find a deal on a partridge? Preferably one with a pear tree to go with it.