How to Eat Out and Stick to Your Budget: A Q&A with Young Yet Wise

Here at Food Before Love we’re all about food, but we’re also about making smart money moves. So, we sat down with Candice Marie of Young Yet Wise and asked for her advice on some of the toughest money questions surrounding tipping, splitting and budgeting for nights out.

Candice Marie is passionate about helping people take control of their finances. She started Young Yet Wise as a way to document her own money journey. As a result, she’s managed to bring her net worth from the negatives into the positives, is currently debt free and wants to help others do the same. 

1. What moment made you realize that you needed to zero in on your finances and what made you decide to share your tips via Young Yet Wise? 

I realized I needed to do something about my debt when my older cousin asked me what my net worth was. I didn’t know what my net worth was at the time all I knew was that I had a ton of student loan debt. My cousin said since I was 23 at the time than I should have at least $23,000 worth of assets. Which at that time I had nowhere near $23,000 worth of assets. I actually had a negative net worth. So that’s when I decided that something had to change. I first wanted to focus on investing my money so that once I became debt free I could have a positive net worth. 

Before starting my blog I had a ton of debt, very little savings, no money goals and the only investment account I had was my jobs 401k. Creating my blog, Young Yet Wise allowed me to share my money journey, keep myself accountable and motivate others to make wise money choices as well. 

2. Our readers love a good Sunday brunch or happy hour with their friends, but that can get expensive in major cities. What advice do you have for readers that love to eat out, but are on a strict budget? 

I think it’s important to budget out your fun money. You have to be willing to make your money goals a priority. In order for me to pay off all my debt, I had to choose to skip out on some brunches and happy hours because they add up. But I didn’t see it as sacrifice, I saw it as doing something my future self would thank me for. Decide which brunches or happy hours that you would really love to attend, then give yourself a certain amount of cash to spend. Once that money is gone that’s it. 

3. What’s your go-to amount for tipping so you’re fair to the server and to your pockets?

When I’m giving a tip I usually just multiple whatever the first number on the bill is by two. For example if my total comes up to $45, I multiply 4 by 2 so my tip would be $8. It’s just easier for me to remember what to tip this way without pulling out my calculator. 

4. When doing a group dinner, do you itemize the menu or split the bill evenly? What do you think is the “right way” to go about this? 

One fun fact about me I hate group dinners. If it’s a close friends birthday, I may recommend going to dinner just me and her rather than a group dinner of 15-20 people. If it’s a close group of 3-4 of my friends and or family I don’t mind splitting the bill evenly because if it’s the people I love, so I don’t mind paying extra for one of their meals or drinks. However, if it’s a large party, I usually only pay for my items that way I’m not in my feelings when I only had one glass of wine and an entree while someone else ordered a bottle, two appetizers, the main course and a dessert. 

5. When out for an occasion where a person is being celebrated should their meal be comped by the group? What advice do you have for someone stuck in this situation with little funds?

This is a tough one, if it’s a close friend or family member, I don’t mind paying. If funds are tight, maybe mention it upfront to the person being celebrated. I think sometimes people are ashamed of their financial situations. Instead of being real and letting people know what’s going on, they hide it and pretend like they have it all together. In order to reach your goals, you will have to pass up on a few events while you get your funds in order and if your friends are really your friends or family, they should understand.