1 in 5 Aussies won’t sacrifice dining out or takeaways to save for a house or reduce debt
Having a financial goal is one thing, but sticking to it often means making tough choices —
and for many Australians, a nice meal is not something they’re willing to give up.
According to new research from Money.com.au, dining out and ordering takeaway top the
list of expenses Aussies won’t give up for a big financial goal like saving for a home, paying
off debt, or building an emergency fund. In fact, one in five Aussies (21%) say eating out or
ordering in is non-negotiable.
Meanwhile, one in ten Australians (13%) said they wouldn’t sacrifice their takeaway coffee,
and 10% said they wouldn’t cut back on alcohol for a financial goal.
Money.com.au’s Finance Expert, Sean Callery, says some people see simple pleasures like
dining out or coffee to-go as indispensable.
“It’s not that Australians don’t have financial goals. In fact, a quarter of the people we
surveyed are saving for a house. But giving up life’s little luxuries, like a nice meal at a
restaurant or takeaway coffee, can feel like it wouldn’t make much of a difference,” he says.
“The real challenge is balancing enjoying life with sticking to your financial goals. Maybe it’s
not so much about sacrificing, but rather making smarter choices like ordering a cheaper
meal, sharing a dish, or limiting takeaways to a few times a month.”
Gen Z were the most likely to prioritise dining out and takeaway (23%) over financial goals,
while Millennials were more hesitant to part with their daily coffee (14%). Meanwhile,
Boomers and Gen X shared a reluctance to give up alcohol (11%).
Aussies spend more on eating out and takeaway due to rising costs
Household spending on cafes, restaurants, and hotels has skyrocketed by 90% since early
2021, according to the ABS Household Spending Indicator.
This growth has slowed considerably over the past year, with household spending rising by
just 4.8% in the year to October 2024. For context, growth in the previous year (October
2022 to October 2023) was 20%.
Money.com.au’s Research & Data Expert, Peter Drennan, says rising costs, rather than
increased demand, are behind much of the growth in household spending on dining out.
“With restaurant meal prices rising by 2.8% annually, over half of the 4.8% spending growth in the last year is due to price increases rather than higher consumption,” he says.
Money.com.au’s 5 tips to avoid overspending on dining out and takeaway
1. Set a budget: Decide how much you can comfortably spend on dining out or
takeaways each month and stick to it. For example, if your budget is $200 for the
month, choose meals with per-person prices that fit within that limit.
2. Choose cheaper menu options: Look for budget-friendly options like lunch
specials, happy hour deals, or shared plates. In some cases, dining out can even be
more cost-effective than cooking at home when you consider the price of ingredients,
condiments, and the time (and sanity) saved.
3. Dine out during off-peak times: Many restaurants offer discounts during lunch
hours or mid-week specials, so you could plan your outings or a date with your
spouse around these deals. Nothing says ‘romance’ like $2 Taco Tuesday.
4. Limit frequency: Treat dining out or ordering takeaway as an occasional reward
rather than a regular habit. Cooking at home most nights can cut costs and help
when applying for a home loan, as lenders check your spending and savings history.
5. Limit deliveries: Delivery fees and surcharges can quickly add up when ordering
takeaway to be delivered. If possible, opt to pick up your order instead to save
money.
About Money.com.au:
Money.com.au is an Australian financial comparison platform founded by industry experts in
2019. Its goal is to provide people and businesses with financial education and access to
financial products.
About the data:
Money.com.au commissioned the survey from Pureprofile, with a nationally representative
sample of 1,000 Australians by gender, age, and location. Consumer spending data was
analysed using figures from the Australian Bureau of Statistics (ABS) Household Spending
Indicator.
