Steaks can be more expensive than other cuts of beef, such as chuck roasts or ground beef. However, you can use less steak by incorporating the meat into other dishes -- an economical alternative to serving each diner their own steak.

Use steaks to make wraps, sandwiches and subs. One of the most famous steak sandwiches, the Philly cheesesteak, can be recreated in your home by layering steak slices, Swiss cheese, caramelized onions and green peppers on a soft submarine sandwich bun and heating in the microwave. Substitute steak for roast beef in a classic Reuben on rye or concoct your own creation using your favorite ingredients. Try different varieties of bread and condiments to find a combination that complements the steak.

Cut up a few grilled steaks and add it to Mexican dishes. Make fajitas by sauteing diced steak, peppers, onions and spices; serve with warm tortillas. Add steak to burritos and tacos for a hearty alternative to chicken and ground beef. Add diced beef to queso or nacho cheese and serve with tortilla chips.

Use strips of steak to make stir-fry. Mix slices of steak with your favorite vegetables, such as snow peas, green beans, carrots, broccoli or water chestnuts. Cook steak and vegetables in a saute pan or wok. Add your favorite sauce or season with soy sauce, citrus or ginger before the steak finishes cooking. Serve with steamed rice or noodles.

Traditionally, tougher and cheaper cuts of beef are used in stews because the stewing process tenderizes the meat and develops rich flavors. To make beef stew, cook steak pieces, carrots, celery, onion and potatoes in beef stock. Allow the stew to cook for two to three hours until the meat is tender and reaches 145 degrees Fahrenheit. Add burgundy wine to the steak, vegetables and stock to make beef bourguignon, but make sure the alcohol has cooked off before serving. Serve over biscuits, dumplings, potatoes, rice or noodles.