Today is Cinco de Mayo, a holiday celebrated by drinking lots of margaritas, Corona, and tequila.  I'm sure it's also a day that people drop a lot of money out at the bar no matter how good the drink specials!  I'm not much for bars anymore, but I used to go every Friday and Saturday night and I remember it always taking a big hit on my finances.  While I fell out of the bar scene early, a lot of twenty-somethings are still going out regularly and that leads me to the question... how does going out to the bar affect your budget?  To you set aside extra money for drinking and cabs?  Do you set an amount that you're allowed to spend each night before you go out?  How do you avoid putting too many rounds on your credit card?

When I used to go out, I would take between $20 and $30 of cash with me, as well as my debit card in case of emergencies.  I tried not to spend more than I had in cash, but sometimes it was unavoidable.  But by not taking my credit card with me, I was never able to start buying shots and rounds for everyone I met out... and ultimately, that saved me a lot of money.  Even so, I've been able to save a lot more money since I stopped going out on a regular basis.  And I don't feel so guilty now when I go out for a nice dinner that costs me $30... because I could have easily dropped that much on 3 or 4 drinks.

It's your turn to weigh in... how does the bar affect your budget?



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