8 Best Tips For Hosting Thanksgiving on a Budget

'Tis the season to be hungry! Thanksgiving is only a few weeks away, and while many people like to start celebrating Christmas earlier and earlier every year, this November holiday is perfect for lovers of food and family.

Maybe you're one of those people who can't get enough of turkey and stuffing, but let's be honest - if you're hosting, Thanksgiving can run up a big grocery bill. While you may just bite the bullet and close your eyes while swiping your credit card, know that you don't have to!

There of plenty of ways to save money and still have a joy-filled, delicious Thanksgiving.

1. Head to the Store Early

Plenty of us are guilty of saving the grocery shopping for the very last second, but the closer it gets to Thanksgiving, the less options you have to buy.

Other budget conscious shoppers may have already bought the less expensive brands, leaving you to dish out the cash for more expensive name brands or opt for a different item on your menu.

2. Make a Shopping List

While you may think that shopping list in your head is good enough, not having an actual list of the items you need may cause you to impulse buy. Or buy more salt because you forgot you already bought a new container last week.

Making your list and sticking to it will help you get everything you need while helping you stay within budget.

3. Buy Frozen or Canned Foods

Fresh vegetables may seem like the better choice, frozen or canned foods can be just as fresh and less expensive! Buying the canned green beans over the ones in the vegetable isle won't ruin your casserole, and it's likely no one will even notice.

Not to mention, the frozen or canned veggies are typically already cut, saving you money and time.

4. Borrow From Your Family or Friends

If you want to save some money on cookware or serving dishes, ask your family or friends! There's no shame in asking your Thanksgiving guests to borrow things like a roasting pan, food dishes, or whatever else you may need.

Even though now is the month of giving thanks, the people you surround yourself with for the holidays will likely be happy to lend a helping hand.

5. Make it a Potluck

Make Thanksgiving a potluck this year and ask everyone to bring a dish of their own. Many people have specialty dishes they love to share anyway, so why not ask them to cook it?

This not only saves you time and money, but it can help the holiday become a little more personable with each guest bringing a little piece of themselves to the table.

6. Find Your Local Pantry

Food pantries are intended to help families who are in need not just during the holiday season, but all year round. If your family is in need this Thanksgiving, you can visit your local pantry to find the foods that you may not be able to afford this year.

7. Use Coupons

Have you ever watched those coupons shows on TV and wonder how they can save so much money? While they're coupon searching is more of a full-time job, it goes to show that using discounts provided to you really add up - or don't!

Check out the ads you get in the mail or online for coupons to your favorite grocery stores and save some money this year.

8. Shop at a More Affordable Grocery Store

You may be used to heading to your favorite grocery store, but depending on where you go, they're prices may be higher than others. Shopping at a more affordable chain could help you save some money, especially if you're buying a lot of food.

Some stores, such as Walmart, Target, and Aldi, even announced they're offering Thanksgiving meal specials better than those in 2022. Walmart and Target will be offering more affordable meal baskets, while Aldi is offering 50% off over 70 Thanksgiving food items.

Turkey Prices Are Dropping

There's more good news for you and your budget - turkey prices are dropping this year.

Michael Swanson, chief agriculture economist with Wells Fargo Agri-Food Institute says, “There’s been a big collapse in retail prices for turkey.”

For a 10-15 pound turkey, store prices have dropped 13% in October compared to the same time last year.

Swanson explains the drop is due to simply supply and demand. The farm industry has added 2-3% more turkeys in July to prepare for the November holiday. He also credits the more affordable turkeys to a drop in refrigerated truck prices. What was once $3.80 per mile dropped to $3.30 per mile.

Gobble Up the Savings

Thanksgiving doesn't have to burn a hole in your pocket this year. During the time of giving thanks, enjoy the holiday with your family and friends stress-free.