Author: Edeh Kelechi
Thanksgiving is a widely observed holiday in the United States. It’s not surprising, though, because if you enjoy a nice meal and want to spend time with family and friends, Thanksgiving provides the best of both worlds.
However, due to inflation, many people may be unable to celebrate the holidays as they would like. A Thanksgiving dinner, for example, will cost about 20% more this year than it did in 2021, according to data from the American Farm Bureau.
Aside from Thanksgiving dinner, you’ll have a slew of other holiday expenses to consider. So, what can you do? For one, there are ways to save money while still having a wonderful Thanksgiving, and we’ll show you how.
Let’s get started!
1. Create a shopping list and budget
Everything that involves saving money must begin with a budget, right? Then, make one for your Thanksgiving plans, complete with a shopping list.
It’s one thing to make a budget and a list and another to stick to them. The good news is that if you stick to your list and budget, you can avoid buying more than you need and wasting money.
Include on your shopping list everything you’ll need to entertain your friends and family, from food items to hosting basics. Furthermore, hosting can be pretty expensive. As a result, if you intend to entertain family and friends, you can earn credit card rewards on your purchases.
Furthermore, if you intend to use your credit card to make purchases, ensure you have a sound repayment structure, or the interest will exceed the rewards you receive.
2. Shop early
It will be easier to begin shopping now that you have your shopping list and budget. Also, starting your shopping early will not only save you money but will also save you the stress of rushing around the mall at the last minute.
It’s worth noting that several retailers begin selling Thanksgiving staples early. All you need to do is keep an eye out for these businesses and compare prices to ensure you get the best deal.
3. Look around for discounts and sales
Thanksgiving is both an expensive and enjoyable holiday. However, you can make the most of it by taking advantage of discounts. For example, you can look for discount/sale flyers at your neighborhood grocery store to save money on major Thanksgiving food items.
You could also look online for the best deals. For example, when shopping for Black Friday or Cyber Monday deals, you could buy gift items – but remember to stick to your budget!
Another tip is to buy generic brand-name products instead of brand-name items. After all, generic name products typically contain the same ingredients as brand name items, but they spend less on advertising and branding. According to Consumer Reports, they also cost 20-25% less than brand-name items.
4. Spend less on decor
Yes, Thanksgiving is your favorite holiday, but you don’t need your house to look like it’s on the cover of a magazine, especially if you’re trying to save money. You can still have a wonderful holiday without spending a fortune on decorations.
This Thanksgiving, you could use your creativity to make a DIY decoration or go to the Dollar Store for inexpensive decor items. This year, you might want to focus on what truly matters and what Thanksgiving is all about: gratitude and family.
5. Plan your trip
Good for you if you’re going to travel this holiday season! According to a Bankrate 2022 survey, you’ll be one of the 43% of Americans planning a trip for this holiday. However, due to inflation, ticket prices are at an all-time high, forcing you to change your plans, such as driving to your destination.
If you must fly to your destination, however, you can save money traveling on off-peak travel days. The American Automobile Association (AAA) recommends avoiding travel on the Tuesday or Wednesday prior to Thanksgiving in favor of Monday.
In addition, AAA recommends booking your flight two weeks ahead of Thanksgiving to get the best deals. Remember that booking your flight at the last minute not only increases the cost but also makes it more difficult to find a flight.
Plan your Thanksgiving right!
It is not impossible to have a fantastic Thanksgiving on a budget. All you have to do is make a shopping list that reflects your budget, shop for items early, look for discounts, and start looking for tickets early if you’re planning a trip. All of these things will help you save money and stay organized during your holiday.
