With the rise of inflation and its vice grip on Americans' wallets, prioritizing "luxuries" like fast food simply isn't an option. And it seems that finally, these mega-chains are ready to acknowledge this.
After reports surfaced about McDonald's wild inflation markup, the chain announced it would offer a limited-time $5 value meal. Of course, once McDonald's committed to the leap, others followed suit.
The most recent contender? None other than McDonald's rival Burger King.
But now that the two are competitively going head-to-head, who stacks up as the better deal? We break it down here so you can stretch your fast food budget .
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McDonald's value meal
A recent study determined that fast food prices surged exorbitantly in the last 10 years. While the national inflation rate is 31%, many fast-food chains have raised prices even higher than "necessary."
In fact, the study determined that McDonald's prices surged over 100%.
So corporate did what they do best: They came up with a band-aid solution. Currently, the chain is dangling a $5 value meal over consumers' heads. The meal includes the choice between a McChicken or McDouble, four-piece chicken nuggets, fries, and a drink.
And considering the McNugget Happy Meal is $4.99, this is a "steal." The promotion will last until the end of 2024.
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Leaning on their long-time slogan, Burger recently announced their "Have It Your Way" $5 value meal.
In a bid to one-up McD's, Burger King's value meal offer includes a choice of three sandwiches, chicken nuggets, fries, and a drink. The deal will last until the end of October 2024, so you'd better hurry.
It's an interesting move, considering Burger King's price increases are marginally lower. According to the recent study, "the average cost for Burger King menu items has risen by 'just' 55%" since 2014.
Other sneaky competitors
Of course, McDonald's and Burger King aren't the only ones vying for people's money. Even competitors like Wendy's are getting in on the value offers. Recently this chain announced they'd be offering a $3 breakfast value meal.
Customers can choose between a bacon, egg, and cheese English muffin or a sausage, egg, and cheese English muffin, along with a side of small seasoned potatoes.
This admittedly is an effort to rectify some of the public image damage done by the alleged "surge pricing" Wendy's was accused of in April.
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Bottom line
When it comes down to it, Burger King's value meal is the current champion of the value meal wars.
Offering just one more option and running the sale longer, on top of already "reasonable" price increases, definitely makes it the clear winner.
Will you be hitting up a BK drive-thru soon to save money on groceries ?
Money tips that can work for everyone
No matter what your bank account balance is, there's always an opportunity to optimize and improve your finances. Here's a quick checklist of things you can look at today.
Focus on paying off your debt. Debt can hold you back from making progress with your overall financial well-being. Aside from cutting expenses, there are tools that can help you pay off debt faster like balance transfer credit cards and debt counseling.
Earning extra income can give you breathing room. If finances are tight, earning some extra money to supplement your income can make a huge difference. A new job is one option to consider, but if you're not ready to make a big change or already retired, a part-time side job could be a better choice.
Cut your expenses. It sounds painful and so not fun, but it doesn't have to be. Take a look at your biggest expenses because that's where you'll probably find the biggest savings. For example, auto insurance rates have been soaring so shopping around for a new insurance company can be the fastest way to cut your bill. Also, look for ways to cut your grocery bill (despite rising inflation).
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