Many people who have outstanding debts may be feeling the pressure these days especially when collectors start giving them notices or calling them at home and at the office. This can indeed be a stressful situation but this is the reality for those who continue to accumulate debts and are not paying attention to settling their financial obligations on time.

You may have heard stories of collectors threatening to inflict physical harm to customers who don’t take immediate action in paying their loans. Some of them even make calls during inappropriate hours and even while at work thereby causing more stress to borrowers.

One of the most effective methods of cutting down on debt is to spend less. This means not spending much on unnecessary items such as watching movies and eating out several times a week. A latest research commissioned by Suncorp Bank has showed that in Australia, the Queenslanders are guilty of dining out up to three times every week spending an average of $50 to $100 on quick meals. And so as some 50 million people in Queensland are found to be doing this, the amount can blow up then to a whopping $50 million.

The recent survey also revealed some revealing demographics. People belonging to this group are mostly those aged 18-24 as well as those 35 to 44 years old. The older ones specifically those above the 50s are the thrifty types maybe because of the fact that they’ve been through tough times before and have learned their lessons well. Additionally between the men and women, the study found men to be much guilty of eating out often compared to the females.

Digging more into this subject, it’s not surprising why men showed up to be the most frequent fast food and restaurant diners compared to women. Firstly, as most of them are the breadwinners in the family, they’re very busy people who want to just take a quick breakfast, lunch or dinner outside rather than bring home cooked food to their offices. Secondly, many men whether single or married are not very interested in cooking the reason why they’d rather eat out. Thirdly, men love to socialize which is why they opt for dining out.

But this lifestyle could lead to more debts, according to financial advisors. They point out that if only this $100 expense each week is channeled to paying debts including home and personal loans such as cash advance and payday loans, people can better manage their finances and lessen their debts. If not for paying debts, they could also start saving the amount for future use.

Some may reason out that they earn well and can afford to eat out but nevertheless, this should not be reason enough to splurge. Having the right attitude towards finances is ideal in order to cut down on debt and save for the future. This means if you’re used to eating out three to four times a week, why not make it once weekly or say, twice a month just to reward yourself for the good job you’ve done for the entire week.