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The Average Cost of Thanksgiving Dinner: Ways to Save

Average cost of thanksgiving
This year is the first in quite some time that the average cost of a Thanksgiving dinner dropped. Last year the average price of preparing a Thanksgiving meal sat just above $50 and now it sits at $49.87 (a 24 cent decrease from the 2015). It may not seem like much but celebrating the day may be a little less costly than usual.

These figures have been decided for a family of 10. The menu for the family of 10 includes turkey, stuffing, sweet potatoes, rolls, peas, cranberries, a veggie tray, pumpkin pie with whipped cream and coffee with milk. That is a pretty impressive menu and only costs about $5 to feed each person at the table for the holiday. If your guest list is a little smaller you could end up spending even less celebrating Thanksgiving this year.

The Cost of Thanksgiving Dinner

Why did the cost of Thanksgiving drop this year?

Well, according to Investopedia, farm prices of turkeys throughout the United States have dropped from recent years. This is probably the key reason that the overall price of the holiday meal has dropped. A 16-pound turkey only costs about $22.74 this year, which is spectacular compared to previous years. Plenty of retailers have also offered shoppers incentives for purchasing freak or frozen turkeys as well.

Other costs have declined as well. Milk prices dropped to a national average of $3.17 (the lowest they’ve been in six years). Pumpkin pie filling prices also fell to about $3.13 a can. Rolls, pie shells and cranberries have also all seen price drops this holiday season.

While the overall cost of holding a Thanksgiving dinner may be a little lighter on your wallet this year, there are still plenty of ways you can save. Keep these ideas in mind when you prep for your Thanksgiving meal tomorrow:

  • Don’t buy name-brand items – Butterball and name-brand turkeys are more expensive. Other items, like rolls, pies, etc. are also cheaper when they don’t have a name plastered on them.
  • Hold a potluck – Having others chip in will cut your overall cost greatly. It is also a fun way to get to try your friends’ and family’s cooking.
  • Be creative – You don’t have to have a “traditional” Thanksgiving feast. Serve something a bit cheaper. It’ll be just as good and even better for your wallet.
  • Scale your celebration down – Don’t invite everyone you know over for Thanksgiving. Keep your celebration small. It will help your budget.
  • Wait until after Thanksgiving – If you are looking to be a little less traditional you may want to think about holding a “Friendsgiving.” You can hold a dinner after Thanksgiving and get discounted items (turkeys will be marked down). This is a great way to still celebrate the holiday without the cost.

However and whenever you decide to celebrate the Thanksgiving holiday you should remember that it is not all about how big or expensive your celebration is. What matters is showing your appreciation for your friends and family and spending time together.

Happy Thanksgiving!

Photo: Neil

Comments

  1. I wish I had read this post before Thanksgiving, but our spending of Thanksgiving was a bit low compared with that of last year’s too. Happy Thanksgiving!