To save money when purchasing filet mignon steaks, purchase a larger cut of meat that includes the filet mignon. For example, a porterhouse steak includes a filet mignon, and a whole beef tenderloin can be cut into several filet mignons, according to About.com
Filet mignon is considered a delicacy due to its tender quality. However, each steer or heifer only provides up to 500 grams of filet mignon. Thus, a limited supply combined with its desirable tenderness make the filet mignon the most expensive cut of beef. Filet mignon is often sold wrapped in bacon, so the discerning buyer must be careful not to overpay for this addition.