In a nutshell, yes.  To be fair to restaurants, though, it seems like the price of just about everything has gotten ridiculous.  In my research for this article, I found the website latestcost.com, which has a blog post on the average cost of a burger. The site has tons of pop-up ads that are a deterrent for spending much time delving into their blogs but I was intrigued with their vast list of average costs they discussed in their blog posts. According to their data, the average cost for just a hamburger with no sides or a drink is $3.50 – $12.00.  I don’t know about where you live, but in my neck of the woods, $3.50 is going to get you a burger that you would normally find in a kid’s meal with little to no nutritional value.  According to the website datassential.com, burger prices have risen by 14% since 2023 while beef production costs surged 32%. The average net profit margin a restaurant makes on each hamburger sold is 10 – 15% for a regular burger and 12 – 18% for a gourmet burger. 

There are ways to save when dining out. The easiest way to reduce your costs is to order water instead of a drink. According to moneydigest.com, the markup for a fountain drink at a restaurant ranges between 650% to 1,100%! Consider sharing a meal with your spouse, date, or friend. By sharing your meal, you’ll not only leave your wallet a little fatter, you’ll keep from growing your girth. You can also save on your meals by using coupons or discounts that may be available through your credit card or bank card. You may also find discounted gift cards at your local membership club or through gift card exchange websites. You can explore recommendations for gift card exchange websites at pcmag.com, which suggests you read a website’s FAQ section to determine if they offer a money-back guarantee before making any purchase.

Got a question about work, money, family—or just figuring life out? Ask Ida is where real people get real answers, served with humor and plain talk. Send in your question, and let’s make sense of life’s bumps together. ASK IDA