This got me thinking recently as there are some people that I don’t see too often but what is clear is how for one particular group they always enjoy dining out to the point where I definitely spend way more money hanging around them versus say another group that usually just wants to hang out and we don’t spend much at all. The thing is, nothing is pre-planned for the day so all decisions are pretty much on a whim. However, for the ones that don’t dine out as much they often invest more in experiences such as events.
In this case, I suppose since the event is technically hanging out that is say good enough for the day where spending more money on luxuries isn’t necessary. Everyone is different of course, but I do find that people who tend to dine out a lot are usually not as well off financially. I think it’s just simply due to how these types of expenses people don’t usually keep track of it where it’s like buying that cup of coffee every day and it just adds up.
I know for myself I often take a value approach in wanting the most for my dollar and dining out isn’t usually the winner versus simply being convenient. If it’s true how they say who you hand around with rubs off on you in terms of business success then I suppose finance is the same where spending habits can rub off on you.