If you find that your belt keeps getting bigger while your wallet gets skinnier the two might be connected and you're not alone. Dining out was the single biggest over-budget cost center for employed Americans this year, according to the 2015 Financial Wellbeing Index from Principal Financial.
According to the index, 24% of respondents named “dining out” as the main thing they blew their budget on in 2015, an increase a two percent over last year. The online survey queried 1,122 adult employees of small and mid-sized businesses in the U.S.
Millennials (also known as Gen Y) were more likely to blow their budget eating out (34%) than were members of Gen X (25%) or Baby Boomers (14%).
Perhaps unsurprisingly, health care costs were cited as a concern for next year by the most respondents, 50%, though that’s a big step down from 58% in 2013. Food prices (46%) were the second biggest concern.
Though there are apps, coupons and strategies to save while eating at restaurants the only sure-fire way to save a buck is to simply eat out less, though that can still take a bite out of the old pocket book if you’re not careful.