Rich Americans flock to fast food

Yahoo Finance ^ | Monday February 28, 2011 | Jessica Dickler

[wbill]

When it comes to cutting back, the rich are learning a little secret the rest of us have always known: fast-food is cheap and good (if not good for you).

Quick service restaurants, such as McDonald's and Subway, saw a bigger rise in spending by ultra-affluent consumers than any other restaurant type last year, according to the most recent data by American Express Business Insights.

Lori and Santiago Riviere are among those that have recently been turned on to fast-food dining.

They call themselves "dinks" -- as in dual income no kids. She's an attorney, he works in finance and together they make "well over six figures." Still, she says the recession has changed her mindset about spending.

(snip)

"I think it's a sacrifice, but when you have to choose between that and a pair of Jimmy Choos, I'm going to choose the Jimmy Choos." (snip)

[wbill]

Posting to see what kind of commentary this gets. Especially the bolded money quote... I feel like $40 on a pair of new sneakers (that I wear more or less everyday) is a spending spree.

Truly, these people live in their own world.

[Luke21]

I taught this “dink” stuff twenty years ago at a college. It isn’t new. But if the rich have to start eating at McDonalds and driving used cars at six bucks a gallon, maybe they’ll have their boy president go play somewhere else. We can hope.

[Clock King]

Nobody knows how to cook anymore? Leftovers are real cheap.

[LearnsFromMistakes]

My kids quit eating fast food 3 years ago, on a dare from me. It has been tough at times, but we always find a way to eat a little bit better...and almost always cheaper.

Now, driving by a McD, the smell is almost enough to make all of us sick.

[GunsareOK]

Don’t understand why fast food is so “bad.” All of the places have low calorie choices but personally, I like two plain double burgers with NOTHING on them. I’ll bet they’re no worse than if you made them at home.

[NEMDF]

Call me ignorant, but I have no idea what Jimmy Choos is/are. And I like the occasional quarter pounder with cheese or Big Mac. (but it is a treat, not a sacrifice...)

[petercooper]

Subway is awesome.

[Bloody Sam Roberts]

fast-food is cheap and good (if not good for you).

Bullshiite. For the same price one would pay at McDonalds for a Big Mac, a shake and a large fries, I could EASILY eat for an entire week. You just have to know how to cook a little. Fast food is not cheap anymore. Now, that's not to say one cannot eat cheaply at a fast food joint. But what they advertise on menu placards as Value Meals are nowhere near that at all.

[wbill]

My wife and I were "dinks" (you're right, it's not a new term) for a few years. The article is right about one thing, we were never richer, financially, then during that period of time.

We didn't drop it on Jimmy Choos (I'm assuming those are shoes of some sort) though. Fools and their money....

[Mashood]

“For the same price one would pay at McDonalds for a Big Mac, a shake and a large fries, I could EASILY eat for an entire week.”

You can eat for a week on $8? Really?

[Honorary Serb]

.....Riviere says they order take out most evenings instead of dining out in order to save some extra money for luxury goods.....

Why not do something radical--learn to cook. The food is usually less expensive than take-out, tastes better, gives you more variety, and you know what's in it. You can even learn how to make meals that take about 30 minutes to prepare.

[sueuprising]

Evidently this “dink” couple prefer to eat out anywhere, every day, then eat out somewhere where the food and abience are appealing, on occasion. They sound utterly obnoxious with their Jimmy choo’s and their So. California palate. What snobs.

[dinoparty]

Ruin your body while preserving your gorgeous other possessions. I would think pure vanity would prevent this, if nothing else. Healthy people are better looking.

[MarineBrat]

Subway is great if you’ve got $5 to spend. In fact... you guys got me hankering for a Spicy Italian on Italian herb and cheese. BRB! :)

[trillabodilla]

Fed my family of four on a large round steak, gravy w/ spaghetti, corn and rolls last night and spent MAYBE $10 on the whole meal!

[lormand]

I could use an In-N-Out burger Animal Style right now, but have to wait until they build more here in Texas.

[Paladin2]

~ $800 (/pr, I assume):

[ponygirl]

Choos are designer shoes that start at $500 a pair. That’s a lotta hamburgers.

[samiam1972]

Feeding my family of 7 on homemade chicken and dumplings tonight for less than $3 total. There will be leftovers for one or two tomorrow, too. :0)

[MaxMax]

I eat them the same way and I also like the wendys dollar salad on the cheap.