Thanksgiving – the day of the year that Americans set aside to be thankful and grateful for the things that they hold dear. It is often celebrated with family and friends, football and food…and those celebrations can be costly.
Did you know that it is estimated $3.4 billion (up 20% from 2020) will be spent on Thanksgiving costs – from travel to food and fun? 1
However, there are ways to slash the budget without sacrificing the Thanksgiving fun.
Did you know that Thanksgiving week is the busiest of the year? 2
AAA estimates that 50 million Americans will travel over 50 miles during the week of Thanksgiving (down 4 million from 2020). Save on Travel Costs by:
- Shop for flights. Use sites like Travelocity.com or hotwire.com to compare pricing.
- Fly on the Monday before to save around $77 or Thanksgiving morning to save around $100. The most expensive fight will be on the Wednesday before Thanksgiving.
- If it is less than 2 hours away, consider driving to your holiday gathering.
Did you know that Americans will purchase 45 million turkeys this Thanksgiving? 3
- BYOD (Bring Your Own Dish). By having everyone bring a dish, you save money on food…and time in the kitchen.
- Change the oven setting. By using the convection setting, which circulates the temperature around the food, you can cut your energy costs up to 20%.
- Keep it simple. Plan your menu with food that is already in your pantry, easy to find, and everyone likes to eat.
Did you know that over 114 million Americans will go shopping in-person over the long weekend (down 5million from 2020)? 4
- Pre-shop the ads. See what is on sale…and research if it is really a bargain.
- Make a budget for your holiday spending.
- Make a list of what you need.
Did you know that a Harris poll reported 95% of Americans state that Thanksgiving is about Family?
With its roots in our founding, many have said that Thanksgiving is the most American of holidays. It is a great time to reflect on that for which we are grateful. With a little pre-planning, we can enjoy what the holiday is about, without going into debt.
3 Bureau of Labor Statistic
4 National Retail Federation