There’s no such thing as a free lunch, which is why Visa’s Practical Money Skills for Life program has launched a new app designed to help users keep costs down. The free Lunch Tracker app for iOS calculates the amount you spend on lunch over the month and year. You can take the app’s 30-Day Challenge to start saving money, learn cost-cutting tips and share foodie photos with friends to show off your budgeting smarts.
The inspiration: Visa surveyed 2,033 Americans and found that the average spend on lunch in the U.S. is $53 a week or $2,746 a year, and for some, more than $9,000 a year. "Small choices have a big impact,” says Nat Sillin, global head of financial literacy at Visa Inc. “Most people may not realize that they are spending over $50 a week on lunch. Paying attention to what you are spending is essential to financial wellbeing.”
Visa's survey also showed that men outspend women on lunch by an average of 60 percent and are more likely dine out. "Grocery store or gastro pub, don't bust your budget on your midday meal," says Sillin. "Clipping a coupon or choosing a less expensive item can save you hundreds over the course of a year.”
Learn more about Visa’s findings, including where people spend most regionally (you’ll be surprised!) and how often people brown-bag it, in this infographic on how Americans do lunch.
View the full When Lunch Bites Back ebook.