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This plate of turkey, mashed potatoes, stuffing, green bean casserole, cranberry sauce and pumpkin pie is not cheap.
According to a LendingTree survey, more than one in four hosts report that Thanksgiving represents a financial burden
TREE, -4.27%
This should not surprise you, considering the high cost of organizing a feast for the annual vacation.
On average, Americans plan to spend $ 334 to welcome 11 people this year, including $ 251 in food and $ 83 in household items. Knowing that the average consumer should spend more than US $ 1,000 during the holiday season in gifts, decor and food, Thanksgiving can be a good choice.
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Here are some tips from savings experts on how to reduce the financial stress of your vacation:
Create a menu – and stick to it
Create a menu to not make excessive purchases. Discover promotional gifts in grocery stores, said Mark Hamrick, Senior Economic Analyst at the Bankrate Personal Finance website. Some stores, including ShopRite, offer Turkey a free turkey if they spend enough money by a certain date.
Remember to make the most of dishes from nothing. If pre-made dishes like mashed potatoes or green beans can save you time, they can quickly exceed your budget. Canned pumpkin is less expensive than fresh pumpkin and can be just as tasty if used as a pie.
Avoid name tags
Supermarket flyers promise discounts on popular ingredients like cranberries or sweet potatoes, and include famous brands. Do not be afraid to become generic. "It is likely that the store brand is cheaper," said Jen Smith, personal finance expert of The Penny Hoarder's savings website.
Skip the whole turkey
Turkey, the centerpiece of most Thanksgiving tables, accounts for nearly half of the average family's food costs for Thanksgiving, according to the American Farm Bureau Federation. The average price of a turkey dropped by 3% over last year to reach about $ 1.36 per pound for a 16 pound bird.
"If you have fewer than six people or less, you'll probably be better off buying turkey breasts or thighs rather than a whole turkey," said Jon Lal, founder and CEO of the coupons website. and BeFrugal cash back. (The average turkey costs about $ 21.71.)
Another option for people who need to save a few dollars: cook an entire chicken instead. In New York, a whole chicken costs only 99 cents a pound, while an entire turkey can cost double that price, depending on prices available on Instacart.
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Do not cook too much
In the same vein, Thanksgiving hosts should not start vacations with the remnants in mind. Leftovers help spread the cost of the Thanksgiving meal, but they also risk getting lost if they are not eaten on time. One solution: limit the number of dishes and desserts.
"You do not need the full range to have a lavish Thanksgiving," Smith said.
Think about making a potluck
This is especially true for the perennial host. "If you do not take turns and still find yourself organizing a Thanksgiving dinner, a potluck could be a good way to share the responsibility for lodging," Lal said.
Make it a family affair, even with friends. By separating food, customers can spend as little or as little money as possible. The potluck does not have to be limited to food. Drinks, paper plates and decorations can also be shared between guests.
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