How much should I be prepared to blow?

Drez

So I am going to be picking up the tab for a steak dinner for five people in a couple of weeks. Steak/entrees are like 40-45 bucks each, sides are in the 10 dollar range each, and I have no idea how much good wine costs. Thoughts?

I'm really just looking to see if anyone has any experiences with this - I'm not often in a financial position to actually go out for something fancy so I am just trying to manage my financial expectations here.

SatanIsMyMotor

I would budget about $100 per person to be safe.

edit: that's factoring in wine and tip as well. Drinking will be the big driver of costs.

JHunz

If you are going out with four people who love wine, you could end up spending as much or more on the wine as you do on the food.

Sentry

While you're budgeting, based on recent posts you've made and how well you seem to be doing now, you may want to read this. These are definitely traps I find myself still in, and you would do well to be on the lookout for them.

http://www.cracked.com/blog/the-5-stupidest-habits-you-develop-growing-up-poor/

Edit: Also, The Outback has steaks too... just FYI this just seems like it's crazy expensive and I know you are probably trying to thank people for the help but it seems crazy to me.

cmsamo

Last year we went to a really nice steak place for my friend's 30th birthday. There were 4 of us. The bill was almost $700. We had cocktails at $10 each to start, an appetizer each, 3 steak meals, and a seafood dish. We also had a bottle of wine which was $100 alone.

If it was me, I would budget on $150 per person if you really wanted to pull out all the stops, maybe even more if you are all going to drink a lot

Deebaser

Drez wrote:

So I am going to be picking up the tab for a steak dinner for five people in a couple of weeks. Steak/entrees are like 40-45 bucks each, sides are in the 10 dollar range each, and I have no idea how much good wine costs. Thoughts?

I'm really just looking to see if anyone has any experiences with this - I'm not often in a financial position to actually go out for something fancy so I am just trying to manage my financial expectations here.

If the baked potatoes are $10 a pop, then the wine is going to be at least $40 a bottle (4 glasses).

Can you get out of this? Your checking account will be bleeding out its asshole.

Fyndir

For budgeting purposes boost the price of everything.

Call it 50 a head for a steak/entree, 15 a head for sides (and assume everyone gets at least one side, with two extra sides shared between everyone), and assume that you will spend about half of that again on wine to allow for ordering a fairly nice bottle if you want to.

So for 5 people I would budget it at 355 for food, or about 71 per person, I would then assume you'll spend around about 178 on wine or other drinks for the table.

Call it a 20% tip because you're going somewhere nice (possibly adjust based on country, I am speaking as a Brit on that part), round up a little and you get a rough total budget of 650.

This is just how I would work it out, personally, because I like to try and budget high to avoid nasty surprises, that way my finances are less likely to end up in a mess.

Alternatively, if you know where you'll be going, looking for a menu online can be a great way to get a clear idea of costs, or even calling and asking for a rough estimate when you book.

Deebaser

Where/When is this? Raz and I would like to get a nearby table so we can video you crying when the check comes and post it on H/A

Drez

Thanks all.

This group doesn't feature heavy drinkers. From what you guys are saying, having 1k on hand would be a more than reasonable?

@Deebaser: I guess I could always cancel, but it is important for me so I probably won't.

@Sentry: Thanks. I'm also saving but there are some things I want to do in the meanwhile.

Fyndir

1k should cover a 5 person dinner with plenty of room to spare, in my opinion.

Deebaser

Doing some quick math and guesstimations

Entree - 45
Side -10
Wine (3 glass $12 each) - 36
Coffee -5
Dessert - 12
Sub - 108
Tax+tip - 31
Total per head - 139

I'm calling $696 in the pool.

Drez

Cool. Thanks. Yeah, most expensive entree is $43 and even assuming two sides per person, this is not bad. It's what I expected, more or less.

Figgy

Drez wrote:

Cool. Thanks. Yeah, most expensive entree is $43 and even assuming two sides per person, this is not bad. It's what I expected, more or less.

Do you absolutely have to go to this restaurant? Are you perfectly fine with spending close to a grand on this dinner?

In my opinion, big, fancy, expensive dinners are for you and your significant other to celebrate something. When I go out with friends for dinner, we want to talk, laugh, drink, have a good time. I wouldn't want to sit in a restaurant with $50 entrees with a few of my friends because I'd be afraid of making too much noise, for one. If a friend was fronting the bill, I'd feel really guilty about ordering what I want, as well.

If you're totally okay with all this and you want to spend this kind of scratch, more power to you. Yes, have about a grand on hand. The booze bill will be 30-50% of the entire bill. A bottle of wine is only about four glasses. Most none wine drinkers are surprised by this, thinking a "bottle" is a large quantity to drink. Not really. If I went out for dinner with friends, I wouldn't blink if we went through a bottle each over the course of a couple hours. For food, budget for people ordering more than you think they might. And budget for a 20% tip.

Still, I think you could have just as good a time with your friends at a place that has $25 steak entrees.

As a last side note, typically at restaurants like these, a "side" is meant to be shared. A "side" of mashed potatoes, for example, would probably be enough for 2-3 people to have a bit. So two sides per person is a bit much, and I would actually hope your server would mention something to you should you guys end up ordering all that.

Even on our honeymoon last month in Jamaica, where I fully expected portions to be much smaller than I was used to, our server was kind enough to point out that the two sides each we ordered would probably go to waste. We brought it down to two, and he was right. With a "sampler" style appetizer, two entrees of filet Mignon, a side of vegetables, and a side of baked macaroni and cheese, we barely finished everything. We had to skip dessert.

The Crowing One

I agree with the ranges. I'd guess that $800, total, would be a reasonable expectation for the top point. That's a lot to drop on a meal that isn't being paid out of an expense account. Good luck!

Kurnea

The Crowing One wrote:

I agree with the ranges. I'd guess that $800, total, would be a reasonable expectation for the top point. That's a lot to drop on a meal that isn't being paid out of an expense account. Good luck!

That's the thing though, I've never heard of someone paying for a meal like this by themselves unless a company expense account was involved. The few times where I've got top-shelf alcohol or fancy restaurant food provided for me, it was paid for by the company, and not directly from any one person's credit card.

Drez

Figgy wrote:

Drez wrote:

Cool. Thanks. Yeah, most expensive entree is $43 and even assuming two sides per person, this is not bad. It's what I expected, more or less.

Do you absolutely have to go to this restaurant? Are you perfectly fine with spending close to a grand on this dinner?

In my opinion, big, fancy, expensive dinners are for you and your significant other to celebrate something. When I go out with friends for dinner, we want to talk, laugh, drink, have a good time. I wouldn't want to sit in a restaurant with $50 entrees with a few of my friends because I'd be afraid of making too much noise, for one. If a friend was fronting the bill, I'd feel really guilty about ordering what I want, as well.

If you're totally okay with all this and you want to spend this kind of scratch, more power to you. Yes, have about a grand on hand. The booze bill will be 30-50% of the entire bill. A bottle of wine is only about four glasses. Most none wine drinkers are surprised by this, thinking a "bottle" is a large quantity to drink. Not really. If I went out for dinner with friends, I wouldn't blink if we went through a bottle each over the course of a couple hours. For food, budget for people ordering more than you think they might. And budget for a 20% tip.

Still, I think you could have just as good a time with your friends at a place that has $25 steak entrees.

As a last side note, typically at restaurants like these, a "side" is meant to be shared. A "side" of mashed potatoes, for example, would probably be enough for 2-3 people to have a bit. So two sides per person is a bit much, and I would actually hope your server would mention something to you should you guys end up ordering all that.

Even on our honeymoon last month in Jamaica, where I fully expected portions to be much smaller than I was used to, our server was kind enough to point out that the two sides each we ordered would probably go to waste. We brought it down to two, and he was right. With a "sampler" style appetizer, two entrees of filet Mignon, a side of vegetables, and a side of baked macaroni and cheese, we barely finished everything. We had to skip dessert.

Ah, that's very good to know about sides. When I go there, I usually just order from the bar menu.

As for the other stuff: I don't have to go here, but I want to. I personally really like this restaurant (I drink there often - I know the maitre d' and half the staff - they can have all my business as far as I'm concerned).

Anyway, I had already budgeted for this based on my initial estimation +$300 so I was basically looking to see if my expectations were on point or not, and it seems they are. I am totally comfortable with this price and from what people are saying, I may even end up paying less than I anticipated. But I'm fine if it hits 1k or even a little more. Like I said, I expected about that much.

Thanks for the advice. I know it seems ridiculous to spend this kind of money on one dinner but I have my reasons.

Figgy

Well then have an awesome time!

Just for a quick comparison on what you can spend on the spectrum, our wedding rehearsal dinner was 20 people. I booked the top floor of a local restaurant. Prime rib dinner, salad, soup, dessert, open bar (it was a brewery as well, so that was a huge bonus), and it came to about $900 with a $150 tip. Seems inexpensive comparatively, with 4 times the attendance as your event, but don't think you need to spend a grand for high quality. It was some of the best prime rib I've ever had, and my wife's executive chef Father was complimenting the food all night.

Figgy

Kurnea wrote:

The Crowing One wrote:

I agree with the ranges. I'd guess that $800, total, would be a reasonable expectation for the top point. That's a lot to drop on a meal that isn't being paid out of an expense account. Good luck!

That's the thing though, I've never heard of someone paying for a meal like this by themselves unless a company expense account was involved. The few times where I've got top-shelf alcohol or fancy restaurant food provided for me, it was paid for by the company, and not directly from any one person's credit card.

Well, read my comment above. I footed that bill :P

Sentry

Well have an awesome meal Drez. Post some pics!

useless4

Went to Morton's last night...
had 1 drink, 1 ice tea, 2 soups, 1 salad split, 1 steak, 1 lamb, 1 cream spinach, 1 hashbrown, 2 desert

Came to 210 before tip. Don't forget your tip alone will probably range in the 100 range with 4 people.

Drez

I figure worst case: 250 for entrees, 150 for sides, 250 for drinks, 100 for dessert. That's 750 pre tax. Add 30% for estimated tax and tip (+225), and I'm looking at under 1k even with those fairly exaggerated estimates (for sides and dessert at least).

That was essentially my initial estimate. So if you guys are saying that is a fair estimate with some potential swing in the alcohol department, that's totally within my expectations, which is what I was hoping to confirm here.

P.S. How was Morton's? I'm going somewhere else but I've heard good things.

ceres

This was my wedding dinner.. us + 10 of our closest family and friends at our favorite place + whatever anyone wanted for drink or dessert. The whole thing ran us about $1200 after tip, and it was very, very nice. I would not hesitate to recommend this sort of thing for an occasion that's important to you.

useless4

Pretty good, I am not a big steak eater though (hence the lamb)... I will say my wife just reheated her Cajun steak and it was phenomenal a when a little less rare then she likes. Also @ lunch time or in their bar, the hamburger is outstanding in a way only a steak house can make it. If you are in the Northern Virginia area or Sarasota Florida area I can recommend a bunch of more (to me) exciting restaurants in this range or below.

I think you are on target with your estimate except of the sides (appetizers?) I would figure about 100 for sides/apps. Most restaurants in this range are family style sides in size... if everyone orders one there will be mad left overs... I wouldn't do five side dishes is what I am saying. My wife and I are little chubby eaters and we didn't finish our soups and brought home half of each appetizer and were still stuffed to the limit as we wrapped up dessert.