Study says Americans are broke from spending too much at restaurants

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Americans Are Broke from Spending Too Much at Restaurants


Feeling strapped for cash all the time? Turns out, your dinner may be to blame.

A study from SunTrust Bank says many American households earning $75,000 or more a year aren't saving as much as they should and live paycheck to paycheck because they dine out too much.

Nearly a third of these households admit they aren't reaching their savings goals, and 44 percent say spending big on lifestyle expenses like dining out and entertainment does a number on their bank account.

For millennials with the same income, that number jumps to 71 percent of people who blame their slim pockets on dining out.

This may hurt your bottom line, but it's good news for the restaurant industry given the American Enterprise Institute's recent findings, which shows that Americans spend more at restaurants than grocery stores. Eater reports that, "In January, the country spent $50.475 billion at restaurants alone."

A Wall Street Journal report adds that because we're spending so much dining out, restaurant owners are able to hire more staff.

Feeling bad about those receipts? Take a peek at these hilariously long ones. They won't refill your bank account, but they will make you laugh:

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