Gen Y Finances: Young, Single and On A Budget: Going Out Without Going Broke
Since becoming single again, one of the things I’ve noticed is that most writers posting on about saving money on evening entertainment celebrate staying in. A night at home may be a great way to relax and recharge–I love cooking dinner and watching a movie or reading a book as a way to unwind– but I also love getting out and meeting people. A night at home watching movies or reading books you own (or have borrowed from the library) and eating a home cooked meal is much cheaper than a night on the town, but there’s definitely something to be said for having a great evening socializing.
I love Gretchen Rubin’s blog The Happiness Project, and her commandment to “Spend Out” is both profound and simple. One reading of this commandment is that money spent on social activities is like an investment in your happiness: spending an evening in the presence of people whose company you enjoy is difficult to beat. Done sensibly, in my opinion going out is definitely money well spent, particularly if you’re looking to meet girls (or boys).
Going Out on Less
Even though I love to go out, and think it’s worthwhile, sometimes a night out can feel like you’re hemorrhaging money. I love going out, and I love going out often. But there’s the food, and the drinks, and the gas for the round trip….it all adds up quickly. So then what to do? One quick and easy way to shave money off your nightly bill is to plan to avoid establishments with cover charges, but I also use two other methods to keep my costs down so I can afford to go out more.
Streamline
I love rock climbing, and one feature I always mention to people when I explain my addiction is that it’s a great blend of exercise and interaction. There are a lot of people pursuing the same interest in a laid back and supportive environment. Friends of mine in the city have noted a similar atmosphere in the bike communities of NYC and DC. Rather than going to a ‘traditional’ gym, where you put on head phones and lift heavy things or run in place, forms of exercise that have a social component are a great way to meet new people. (Though I’ve heard of some gyms being different, the ones I’ve been to involve a minimum of conversation and virtually no interaction with new individuals.) Recently I also took up ultimate frisbee which has led to meeting dozens of new people.
Making friends through social exercising also means you’ve made friends with people who have life long fitness goals; I’ve met people who rock climb and play frisbee who are in their thirties and forties (admittedly, that’s certainly not old at all) who are still involved in rather demanding sports. As a twenty something, these people are a huge source of motivation for maintaining physical fitness for a long time. And unlike a night in the bar, a couple hours talking and exercising is calories burned, rather than consumed.
Go Light
I’ve recently acquired the nickname “Tape Worm” because I’ve been known to eat all hours of the day. I eat a second breakfast as soon as I get to work, and on long days also eat lunches ‘a’ and ‘b,’ followed by dinner before I leave. This means that I have to plan my food intake in advance because otherwise it’s easy to spend a lot of money on food and fast, especially if a short evening becomes a long one. A protein bar lives in my bag at all times, so that if I’m transitioning from place to place I have a quick and easy snack that can stave off hunger. Not being over hungry means not ordering too much food and being unable to finish it all, or needing to order larger and more expensive entrees. Having a snack available means you can rely on the appetizer section of the menu, and even with a big tip for the waitstaff this is typically cheaper than a pricer main course.
For drinks, personal trainers often offer this bit of advice for a night out: one drink or none at all. While I’ve found few athletes who stick follow this (simply opting to work out more), even if you’re not trying to lose weight, sticking to one drink can cut down on the damage done to your wallet. After all, with some drinks rivaling the price of a portion of food, as John points out, drinking can be an expensive habit. Cutting down on alcohol consumption is another way to spend less so you can go out more. If you’re like me and you cringe at the thought of ATM fees, only carrying enough money for a snack and a drink helps on with following through on this.
You can also invest in the karma bank by offering to be designated driver. I know of a few places that actually provide free fountain soda to the designated drivers, but alas they are few and far between. Fortunately most people I know will compensate the driver with food in exchange for the price of gas required to drive to and from places, meaning a marginally cheaper night out (but remember, karma bank). For non-bar/pub evenings, Martinique offers some tips on how to avoid drinking all your cash this summer.
While planning a night in, or even a low key get together with friends at an apartment/house is great, it’s hard to meet that special girl or boy sitting at home. Besides, isn’t money to go out what you’re working that odd job for? Finally, knowing when to splurge and when to save is important too. If I know I’m going to be going out a lot during a particular week, I will try and split nights of drinking and not drinking, but for special occasions (particularly birthdays), contributing to the celebration by buying food or drink is a particularly good example of spending out, as you’re also spending towards someone else’s happiness.
Because saving money while going out is more of an art than a science, if you have any tips feel free to post in the comment section below.
Elizabeth: I’m curious how you handle going out to dinner with a group and what happens when it comes time to divvy up the bill. When someone is trying to stick to a budget and living by the one drink rule, there’s always someone in the crowd that’s not and then the rest end up subsidizing if the bill is split evenly down the middle rather than according to what people ate and drank. What are your thoughts in this scenario?
The subject of Paula’s post was actually a lengthy topic of discussion for me and a friend last night, as we talked about what offering to pick up the check suggests in terms of future dates. (Her conclussion that was if you pay, you are saying you want a second date, but splitting the bill leaves no obligation for further interaction, a similar idea to Mike’s post topic about how using money can convey interest, or a lack thereof, in a more subtle way.)
In terms of group though, I learned from my co-workers whom I view as experts in that realm. I rely on my handy cell phone calculator to add up my bill, add tax where applicable (the often forgotten contributor to restaurant bills) and tip. I also round up to the nearest whole dollar, but that’s mostly personal preference. It felt a bit neurotic and cheap at first, but since my portion of the bill is usually around ten dollars or so less than everyone else’s, it’s worth it, especially since I realized that I was the only one making a big deal of it.