canstockphoto1890866Are you constantly going out to bars, clubs and restaurants with your friends? How Much is the Night Life Costing You? Chances are, you are spending more money than you think.

You may be shocked to know that the average cost can be anywhere from twenty five to fifty dollars. For instance, going out to the movies can cost more than you expect. The average ticket prices is ten to twelve dollars. If you add the popcorn and a drink that’ll come up to almost twenty dollars and we didn’t even have dinner yet. When you add dinner to the mix you are out of fifty dollars for just one night.

How about a night out with your friends? Many people are lead to believe that happy hour is an economical way to go out. This isn’t true. Three drinks at five dollars plus a few appetizers can set you back twenty five dollars very easily. Honestly, how many people can only have a few appetizers? In reality, restaurants hosts happy hour simply because it draws people in. Whenever the customers arrive, they will start having a great time and they will eat more. This means spending more money and you can easily spend between fifty to sixty dollars on one simple happy hour.

Well, is there a better way to spend your money? You bet there is.

You could spend the money by saving up for a new home, car, enjoying your favorite hobbies, taking a vacation and best of all, saving for your retirement. Take the time to think about what you want to spend your money on. Then make out a list of the items that you would like to save for. How much will it cost you? Now take a look at the amount that you are spending by going out. A simple comparison will give you an idea of how much money you will save by simply going out less and changing your habits. For example, if you’re saving money for a down payment on your dream home and you normally go out twice per week, not going out at all could save you more than five thousand dollars in a single year.

 

How about your social life?

There is a good chance that your friends are probably are in the same financial situation that you are. They will most likely be relieved to have you step up and say something. Just because you aren’t going out doesn’t mean that you can’t be social. There are a number of ways that you can still enjoy the night out with friends without spending a fortune.

Start by hosting a dinner party. Each week someone in your groupĀ  hosts the party and everyone will bring a dish or drink to pass.

Another thing you can do is to host a movie night. Each week someone will host a movie night at their home. Everyone will bring a snack to pass.

Get in Shape. Instead of going out to eat or have drinks, start working out together. You will be socializing and getting your body in shape at the same time.

Go out less. Instead of going out twice a week or four times a month, you can simply cut back. You can choose to go out one night a week or twice per month, which will add up quickly.

How Much is the Night Life Costing You? By simply taking a look at the numbers will tell you all that you need to know. Going out for a night on the town can get quite expensive. All you need to do is cut back, change your habits and start saving for your dream home, a new car or a much needed vacation. You’ll be glad you did.

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Filed under: BudgetingMoneyPersonal Finance

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