Thanksgiving on a Budget

Budgeting for Thanksgiving doesn’t have to be stressful. It’s more about staying flexible and informed than it is about sticking to a strict plan. For example, the average, the average cost of the average Thanksgiving meal for 10 people in 2024 was about $58.08, or roughly $5.80 per person, according to the American Farm Bureau Federation (AFBF).

What this tells us is that while food inflation has somewhat decreased, holiday meals are still noticeably more expensive than they were before the pandemic, which is roughly about 19% higher than in 2019.

One the most expensive item is turkey. The price of a 16-pound turkey in 2024 was $25.67, or $1.60 per pound. Prices can vary depending on where you live. To save money, look for early store sales which are often less expensive than the freshest ones.

Many side dishes, like sweet potatoes and milks have gone down in price, but some items like rolls and stuffing have gone up. This means planning is key. Make a list of your needs before shopping and look for discounts and coupons on grocery flyers or apps. You can also save money by purchasing generic or store brand items instead of name brand ones.

Another way to budget is to plan your meal around what’s on sale. If potatoes or green beans are less expensive, make a recipe that uses them, rather than something more costly. Instead of buying everything at once, you can spread out your shopping over a few weeks to take advantage of various sales.

Buy things like non-perishables ahead of time, like canned cranberry sauce, canned green beans, instant mashed potatoes, canned yams, canned corn, boxed stuffing mix, and canned pumpkin. Check out a list here of more non-perishable items. And if you’re stuck on what to make, there are various recipes online to help you out. Don’t be afraid to throw a potluck! Ask a guest to bring a dish, drink or ingredients to help out with the cooking. Not only does it help share the cost, but it also adds variety to the meal. 

Lastly, consider using the Thanksgiving leftovers for upcoming meals. Using leftover turkey in sandwiches or soup allows you to make use of what you already bought, which saves money.

You can enjoy a tasty Thanksgiving dinner without going over budget if you prepare ahead and use your creativity. Shop early, compare costs, use coupons, and don’t be scared to simplify your menu, because the purpose of Thanksgiving is to spend time with each other, not about how much you spend.