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      For Your Life Abby Hobrough December 16, 2024

      Gen Z Smart Money Blog: Food and the Cost of Convenience

      By Abby Hobrough, Old National Bank 

      Abby Hobrough-edited.jpgWhen you’re swamped at work, tired of cooking, low on time, or craving your favorite restaurant, delivery meals are a common go-to solution. Whether it may be a late-night craving or lunchtime, these food delivery services are convenient, easy, and satisfy wants.

      Often with convenience there are extra costs beyond the price on the menu. Do you ever pause before completing your order to see what those meals are really costing you?   

      The appeal of enjoying your favorite foods with the click of a few buttons can be hard to beat, but it is important to recognize the monetary impact delivery meals can have on your budget.

      According to Google: 

      • 69% of Gen Z’ers use food delivery apps, which is more than any other generation. 
      • 77% of customers order delivery, compared to 61% who dine in.
      • The online food delivery market is expected to grow from $3.7 billion to $90.3 billion by 2030.
      • 1 in 5 Gen Z’ers in the U.S. eat their food delivery in bed! 

      Understanding hidden costs, ways to dine on a budget, and the value of mindful eating, can help you enjoy your favorite restaurants without feeling dread when checking your bank account.

      The Cost of Convenience  

      What costs are you paying when ordering food delivery? Besides the menu price, there are delivery fees that can increase with longer distances and surge pricing. Don’t forget the tip – not only are tips expected, but it quickly adds up with possible platform fees. Lastly, have you noticed menu prices can be more expensive online? Well, they can vary in-store versus delivery.

      Your wallet isn’t the only one that pays the price. Frequently relying on delivery meals can have a cost on your health and wellness. With these meals, you’re unable to control the unhealthy ingredients in your food that may impact your overall well-being, energy levels, and fitness.

      The immediate sense of gratification for a convenient meal is satisfying and can encourage the formation of new habits. When frequently relying on food delivery, the trade-offs of financial and health goals can create a tension between beliefs and goals. So, what can you do to avoid these feelings of discomfort and continue to achieve your health and financial goals?

      Dining on a Budget  

      With meal budgeting, you can balance convenience with health, wellness, and cost with these tips and tricks:

      • Meal Planning: Take time each week to plan your meals to avoid impulse buying and maximize the efficiency of shopping for grocery items.
      • Buy in Bulk: Buy pantry items and freezable products in bulk to reduce costs per serving.
      • Simplify Recipes: To make meals more cost-effective and convenient, choose easy-to-make and simple recipes with minimal ingredients and steps.
      • Portion Control: Recognize and practice portion control to reduce food waste and stretch meal prepping further.
      • Healthier Ingredients: Choose affordable, fresh, and whole ingredients that are often more affordable and healthier options.
      • Cook in Bulk: Prepare meals in large batches to store leftovers for the week, saving both time and money while enjoying the benefits of home-cooked food.  

      Bottom Line – Find Balance  

      Following these tips for dining on a budget can help you feel your best financially, mentally, and physically. Further, choosing mindful eating to strike your perfect balance in delivery versus home cooking will help you stick to your financial and health goals.

      So next time you go to order food delivery, pause to consider the full cost, and remember other strategies you can use to dine cost and time efficiently.

      Click here to view our Smart Money Half-Minute videos for young adults starting their financial journey, or to browse our Real-Life Finance library of resources.

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