About a year ago I stopped drinking for good. I started developing allergic reactions to alcohol, which forced me to quit. I would get a huge, painful rash and have an upset stomach for hours after drinking. Once I finally realized mixed drinks were making me sick, my partner and I got rid of all our alcohol and became a dry household.
I was never a heavy drinker, but I enjoyed going out to dinner on the weekends and having a mixed drink or two. I also had a stocked liquor cabinet in case I wanted to make a cocktail during the week. I didn’t realize just how much money having a few drinks a week was costing me until I quit. Here’s how much money I estimate I’ve saved since I stopped drinking a year ago.
Dinner Without Drinks – $40 Savings Biweekly
My partner and I usually go out to eat once or twice a week. We eat at sit-down restaurants about half the time and opt for fast food when we want something quick. Before we stopped drinking, we would order one or two drinks each whenever we ate at a sit-down place.
The average price of a cocktail is about $10 in our area, so sometimes we’d spend $40 on alcohol alone during a night out. That’s like buying two extra entrées! At the time I didn’t think much of dropping $40 on alcohol. I just thought it was the price I had to pay to enjoy a fun night out.
But since I quit drinking for my health, I’ve realized you don’t need cocktails to unwind and enjoy the company of the people around you. You can still have a great time even if you’re completely sober. And as a bonus, my partner and I have been able to significantly reduce our spending on restaurant meals by cutting out alcohol.
Lyft Rides – $30 Savings Biweekly
On nights when we planned to have a few drinks, my partner and I would also take a Lyft to the restaurant and back so we didn’t have to worry about driving. That would cost us about $30 roundtrip, bringing the total price of a date night up to $100 or more. I estimate that we save about $70 every time we go out now that we don’t drink and can drive ourselves home safely.
Occasional Liquor Purchases – $200+ Savings Per Year
In addition to drinking when I went out, I made occasional alcohol purchases to keep my liquor cabinet stocked. I’d also buy a case of beer or a bottle of wine now and then, especially if I was going to a friend’s house.
Although I didn’t spend much on these small trips to the liquor store, the cost adds up over time. Looking back at my bank statements, I spent at least $20 per month on liquor and wine. Now that I don’t drink, I save over $200 per year on occasional alcohol purchases.
Other Benefits
For years I heard that drinking wine is good for your health and lowers your risk of heart disease. But new research is calling into question whether drinking alcohol is beneficial.
A recent study showed that even moderate alcohol consumption increases your risk of traffic accidents and developing certain cancers. The authors of the study concluded that the risks of drinking outweigh the modest cardiovascular benefits you get when you have a glass of wine per day.
Alcohol is also pretty high in calories and can contribute to weight gain. It’s even been linked to insomnia and can affect your sleep quality. I also get painful symptoms like rashes, stomach pain, and migraines when I drink, which usually leads to a visit to urgent care. So quitting drinking may improve my health and enable me to save money on medical care over time.
You can also get a discount on car insurance if you don’t smoke or drink. However, only certain insurance companies provide this benefit. My current provider doesn’t offer a discount, so I’ll be shopping around for a new policy soon to secure some extra savings.
Wrapping Up
Let me be clear—there’s nothing wrong with enjoying alcohol! But drinking does have some downsides that I never considered until I was forced to stop.
For one, alcohol is expensive. Even though I only drank a few cocktails per week, I still saved well over $1,000 this year by cutting it out. If you drink more frequently or buy top-shelf liquor, you could save even more money by reducing your alcohol intake or going cold turkey.
There are also health risks to drinking alcohol I didn’t know about, such as weight gain and insomnia. Plus, you can save money on car insurance by cutting out alcohol and cigarettes.
I’ve determined that drinking isn’t worth the cost for me, especially because it makes me sick. But drinking is a big part of our culture and social life here in America, so it may be worth it to you.
What are your thoughts on alcohol? Would you quit drinking to save money? Let me know in the comments section below!
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Vicky Monroe is a freelance personal finance and lifestyle writer. When she’s not busy writing about her favorite money saving hacks or tinkering with her budget spreadsheets, she likes to travel, garden, and cook healthy vegetarian meals.
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