I have a confession to make. I broke my rule of not buying food on campus (an extension of the no campus coffee rule). On Friday I paid $3.99 for some bland turkey breast, tough brussels sprouts, and so-so sweet potato mash from an eatery run by the university. It tasted okay.
I didn’t even break the rule for a good reason. Sure, I had to eat my lunch during a meeting, and most of the time I pack pretty pungent lunches. But I certainly could have spent some time Thursday night making a non-smelly lunch for the next day.
I broke the rule because of a coupon. The normal price would have been $6.99, but I happened to have a coupon for $3 off.
Here’s the thing with coupons: they’re sneaky. If I had thought about it carefully, I would have realized that I wasn’t saving $3. I was spending $3.99. If I tallied up the cost of packing my own lunch, it would have come up to way less than $3.99, and I would have been able to control the portions, flavoring, and nutritional content.
Most lunch options on my campus cost around $7. Assuming that a term is 16 weeks, and that I buy lunch on campus Monday-Friday for the entire term, that is $35/week or $560/month on lunch. A generous estimate of what the average PhD student on my campus makes after tax is $1,800 a month. That is 31% of take-home pay going to weekday lunches!
And yet I see other graduate students buying lunch all the time. Some might buy coffee on campus, as well. They’re spending way more of their money on mediocre food than they should be. Often, they don’t even know how much money it is. It’s just an automatic decision. When I talk to them about bringing lunch, they all seem to be on board with the idea, but claim that they’re too busy to pack their lunch, or that they don’t know how to cook, et cetera, et cetera. The litany of excuses is never ending.
Just think about what you could do with an extra $500 or so a month. (I’m arbitrarily subtracting $60 to account for the cost of groceries that turn into packed lunches.) You could save it for retirement (Emily at EvolvingPF has a great overview of how and why to do this), pay down your student loans, or save it for a memorable trip. You could use it for a purpose that really matters to you.
With that said, here are some tips for saving money on lunch. Students, underpaid entry level workers, and everyone else, take note: