Bang for your buck when going out

There was recently an article in the Washington Post about how much people from 21-35 spend when going out. Basically, a group of 20 and 30-somethings were asked to manage their personal budget for two months (Play Money) and then do a breakdown of their expenses. Some of the responses were astounding, "When Paxton Styles goes clubbing with friends, his drink of choice is Crown Royal whiskey. That, he says, is not good for his finances. In two weeks, he spent $680.43 on his social life. Much of that -- $296.16 -- went towards bar and nightclub tabs. Happy hours cost him $133. Dinners and late-night munching were another $94.92."

Two weeks at $680! That's 3/4 of a Prada purse, 1.5 IPhones, or, even better, contribution into your retirement or a new car or house. People of Generation Y are spending more and more of their personal budgets on eating out and going out, especially in Big Cities. In Washington, DC. , two drinks can often cost up to $30, depending on where you are. New York is much more. College towns are much less, but people tend to drink more, adding up quickly.

How can you get out of this rut? It's definitely important to go out for Happy Hours and network with coworkers, as well as release some stress on the weekends with friends, but here are some tips to do so while managing to stay within your budget.

Drink beforehand. Known as pregaming in college, it's known as "being smart and saving money" in real life. Of course, don't drive if you're doing this. But even having one drink can save you anywhere between $3-$10. If you're drinking at a restaurant, bring your own wine and split it among several people. Cheaper and enjoyable. Go to lesser-known, sometimes hole-in-the wall restaurants and bars that you know by word of mouth, or find on www.Yelp.com. They are eager for positive reviews, and you are eager for lesser-known cheaper drinks. Ask them for a discount if you bring more friends and spread the word. Order Stoli instead of Absolut. This goes for any brand name liquor. Absolut marks up because of advertising, but in reality is the same quality as many other vodkas. Look online for happy hour specials, which can be at least 2x or 3x cheaper than during other hours.

If all else fails, think about this article: "Murray makes about $90,000 a year. During his first week tracking expenses, he spent $201.30 on dinners and drinks with friends. He also travels frequently. He recently paid about $4,600 for a cruise on the Queen Victoria for himself and his brother. Yes, he acknowledged, if he cut back on trips he would probably own a house by now." Would you rather drink Grey Goose and live in your apartment for the rest of your life, or sip on Stoli and later have your own gorgeous mansion, or at least home? The choice is yours.