Five Tips for Saving This Thanksgiving

by Kaitlyn Ranze |

According to agricultural economists, farmers and grocery executives, nearly every component of the Thanksgiving dinner, from the disposable aluminum turkey roasting pan to the coffee and pie, will cost more this year. How can you save this year, when prices are on the rise?

Here are five ways to save on Turkey Day.

1) Map out a menu

  • Plan your ingredients by taking stock of recipes AND what you already have in the pantry. 
  • Rather than going the traditional route, use what you have to inspire new traditions and side dishes.
  • Budget about a pound of turkey meat per person and consider using turkey breasts instead of buying the whole bird.
  • Thanksgiving leftovers are an essential part of the holiday, but spare yourself the headache of preparing too much!
  • Have a headcount and find recipes that fit your serving sizes to reduce waste and unnecessary expense.

2) Decorate with costs in mind

Moria Lawlor of Moria Love Interiors has budget-friendly and festive Thanksgiving decor.

  • If your pumpkins (not the ones you have carved) or gourds are still alive you can reuse them for a table setting or on your front porch. 
  • If you live somewhere where there are still pretty fall leaves – gather some and run them down the center of a long table 
  • Acorns are another free gift from mother nature that you can make a nice fall arrangement with 
  • Chrysanthemums bring a nice holiday feel to a house and are usually on sale at your local grocery store
  • Put on the stove some apple cider with cinnamon sticks or something that elicits the smells and feels of the holidays for your guests when they walk in 

3) Shop around.

  • Go beyond couponing. Explore store promotions and take advantage of price-matching opportunities.
  • Buy generic and store brands.
  • Take advantage of bulk discounts from warehouse stores if you’re expecting to feed a small platoon.
  • Stick with in-season produce

4) Skip spending and start giving – Volunteer instead!

Check local organizations for volunteer opportunities. Keep an eye out on bulletin boards and social media sites like the Nextdoor App or Facebook. Source community leaders and find out where the greatest local need is and see where you can fill the gap. Your skills may be better suited to something BESIDES scooped mashed potatoes, so consider your skill set as you explore volunteer opportunities.

5) Change your mindset

As an app that offers mindset tracking to promote your financial wellness, of course, we’re going to tackle your mindset. Though you may enjoy the travel, engorging yourself with food, and being surrounded by a room full of loved ones, we celebrate Thanksgiving ultimately to express our gratitude. Focus on smaller, more meaningful moments (and maybe tastier higher quality side dishes) this Thanksgiving. Not only will it benefit your finances, but it will also improve your overall emotional and physical wellness.

Related articles:

Psychology and Gratitude: How Being Grateful Can Improve Your (Financial) Wellness

The Three-Step Guide for Making This the Best Thanksgiving Yet


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