Instead of asking where we want to eat, should we be asking where we can afford to eat instead?

Answer: Restaurants

Questions:

• Identify the points where significant changes occur in the chart. What events might have caused these changes?
• What factors might influence a family's decision to spend more at restaurants versus grocery stores?
• Based on the current trends shown in the graph, predict how consumer behavior might change in the next five years. What factors could influence these changes?

Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom.

Behind the numbers (20 Something Finance)

"That’s right – for the first time in HISTORY, Americans are spending more at restaurants and bars than they are at grocery stores. In just over 20 years, we’ve gone from spending half as much on dining/drinking out versus groceries, to equivalent levels.

Of course, this does not mean that Americans are getting equally as much food from restaurants as they are from the groceries they eat at home – with the markups it’s probably more like one-quarter as much food."

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NGPF's Budgeting unit can help prepare your students to spend responsibly!

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Check out DATA CRUNCH: USDA Low-Cost Food Plan to get an idea of what the federal government recommends on food spending for a family of four.

About the Author

Ryan Wood

Ryan is the Partnerships and Adoption Manager for Next Gen Personal Finance’s midwest region. He brings his experience as a former teacher, curriculum designer, and sales and marketing professional to state organizations and school districts in supporting the implementation of their personal financial education efforts. He graduated from the University of Wisconsin-Green Bay and earned his teaching credential from Saint Mary’s University in Winona, Minnesota. He proudly taught at two rural high schools in Wisconsin before transitioning to curriculum design at NGPF, and is now excited to be on the front lines in delivering the best possible financial education in the midwest. He and his wife have three beautiful daughters, each of which inspire him to share the impact of being sound financial stewards both at home and as lifelong learners.