Another way to cut your beef budget is to use less expensive cuts, like round steak, shoulder roasts, and eye of chuck. These cuts are generally leaner and not as tender as higher-priced filet, ribeye, New York strip, sirloin, t-bone, and Porterhouse. With a little work, however, the cheaper cuts can be delicious.

To tenderize cuts of beef, cover the meat with meat tenderizer. You might want to add garlic or garlic powder, onion powder, black pepper, or other seasonings. Do not add salt. Next, pierce the meat repeatedly with a fork. This helps break up tough muscle fibers and distributes the tenderizer. Do this to both sides of the meat.

Next, marinate the meat for several hours. Use a commercial marinade or make your own. Popular choices include Italian dressing, Worcestershire sauce, barbecue sauce, teriyaki, and jerk sauce. I've found that inexpensive red wine does a great job of tenderizing and adding wonderful flavor. I usually add slices of red onion and garlic to my wine marinade.

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Before grilling or roasting lean cuts of beef, brush the surface with a little oil to keep the meat from drying out. You can also wrap small cuts, like eye of chuck, with bacon before cooking. When marinated and wrapped in bacon, this cut is almost as good as a filet, at a fraction of the cost.