Tag Archives: Thanksgiving budgeting

Hosting Thanksgiving on a Budget

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Thanksgiving is a time for family, tradition, and, of course – lots of food. But if you’ve ever hosted a Thanksgiving dinner, you know the holiday can be a bit stressful and expensive. Between buying all the ingredients, spending time cooking, and making sure your home is ready to accommodate others – there’s a lot to plan and budget for.

The holiday season might already be a burden on your budget, and throwing inflation into the mix doesn’t make it any easier this year. According to the USDA, grocery prices have increased by over 13% from 2021 to 2022. That’s why it’s so important to consider cost-effective alternatives to the traditional Thanksgiving meal.

Here are 4 ways you can host Thanksgiving on a budget this year.

Plan your budget and menu

Before hosting any party or gathering, you should always create a budget. Don’t just consider which ingredients you need, but rather what you can reasonably afford. Start by listing out your expenses and income to determine what you have left to spend. From there you’ll have a better idea of what your menu will look like based on your budget.

Ahead of going to the grocery store, you should know what your main course will be and the types of sides you’ll be serving. Knowing any guest dietary restrictions will be helpful before you shop as well.

Shop generic brands

According to News 12 New Jersey, Thanksgiving turkeys typically take up 40% of the holiday budget and are one of the most expensive parts of the meal. And while turkey may be a holiday staple, you can always find a more affordable bird when comparing brand prices. For example, a ShopRite 24-pound fresh turkey could cost $40, Butterball is $52, and organic brands cost around $77. If you’re feeding fewer people, consider buying a turkey breast instead of the full bird. Also, don’t forget about your grocery store rewards or coupons. If you frequent ShopRite, be sure to take advantage of the free frozen turkey or ham you may be able to get this time of year.

Try something new

With a 28% cost increase per pound this year, you might want to consider nixing buying a turkey entirely. Sure Thanksgiving is all about traditions, but what better opportunity to start a new ritual with your loved ones – especially if it’s saving money? We recommend trying a different cut of meat like roasted duck, beef, or even plant-based options – all of which won’t be as heavily priced this time of year. You can even challenge yourself to try new cuisines by making Native American staples to honor the history of the holiday.

Turn it into a potluck

Get your guests involved and host a potluck! Sharing the burden of cooking not only saves you time, but it’s also easier on your wallet. Even if you don’t want to do a full-blown potluck, you can ask your guests to bring beverages or desserts. Start a conversation with your group to see what they would be comfortable bringing and make sure you have all the fixings for the main course, sides, and appetizers.

No matter what your plans are this Thanksgiving and holiday season, the team at First Financial is here to help with financial resources, accounts, loans, and more. Talk to us about becoming a member by calling 732-312-1500 or stop by our local branches.

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Last Minute Thanksgiving Savings Tips

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Thanksgiving is just around the corner, are you prepared? You might be slightly panicking right now if you didn’t set aside money or create a budget for the upcoming holiday. With Thanksgiving quickly approaching, everything associated with the holiday can become very pricey at the last minute.

Don’t worry, you’re certainly not the only one who feels this way. Thanksgiving might almost be here, but there are still various ways to celebrate the holiday without breaking the bank – especially if you didn’t plan ahead. Keep reading for some last minute Thanksgiving money-saving ideas that may just be all the help you need.

Save on Thanksgiving Travel

Thanksgiving is a time for family and friends to get together. As a result, travel is often required and might also be costly. Additionally, COVID-19 restrictions can add to the dilemma. Group gatherings may still be limited, and this could also reduce the number of usual participants. Not to mention, many cities still have travel restrictions in place.

To save money, you may choose to avoid traveling all together this year. Perhaps you’ll instead be able to host a small gathering with close friends or relatives who live nearby, and arrange for a video call with loved ones who live far away. Spending Thanksgiving virtually may not be ideal, but it still has its advantages – especially in this time of an ongoing pandemic. You’ll save money on airfare and gas costs, and also avoid the hassle of meeting the pandemic’s travel guidelines.

If you still want to travel, several airlines and websites do provide lower-cost flights. Keep searching the internet looking for last minute travel deals. Yes, as Thanksgiving approaches – everything may become more expensive, but there are certainly some last minute discounts available if you do your research.

Save Money on Thanksgiving Dinner

Whether you plan to make your Thanksgiving meal from scratch or buy ready-to-eat food, preparing this meal can be costly. One tip to save money is to keep your food menu small and simple, especially if you’re on a budget and won’t be hosting a huge gathering. People are likely to be on the move most of the day, visiting various friends and family. Some also tend to over-prepare, making too much food. A lot of food will likely go to waste if you take this route, so plan accordingly for the number of people in attendance – keeping in mind that most guests will only sample a little bit of everything and not eat large portions.

Save Money on Decorating

Preparing and decorating for Thanksgiving can be fun, however at full price – decorations can be expensive. Flex your creativity and make your own decorations if you can. This is an easy method to save some cash and show off your inner artist too. If you are not crafty at all, check out your local dollar store or the sale section of a nearby craft store.

You can also use what you already have in the house too. For example, reuse last year’s Thanksgiving decorations or search around the house for items that you can use for a centerpiece. You may also want to print a banner you can hang up inside, or purchase a small bouquet of fresh flowers from your local grocery store. You can save money while still having a festive Thanksgiving.

In Conclusion

Having a Happy Thanksgiving doesn’t have to be a drain on your wallet. Whatever your decorations are and no matter what the menu is, as long as you spend the holiday with the people who matter most, it’s more than enough to make it a memorable Thanksgiving Day. And being thankful is what the day is truly all about.

Wishing you and yours a very Happy Thanksgiving!

 

Article Source:

https://moneypantry.com/thanksgiving-money-saving-tips/

4 Ways to Save on Your Thanksgiving Feast

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The countdown to Thanksgiving has begun. We all look forward to preparing a great meal for friends and family, but the costs (in both time and money) – can sometimes be hard to digest.

If you are hosting this year’s feast, here are few ways to keep the financial and emotional stress to a minimum.

Make a plan: Decide on your menu early. List all the ingredients you need and start looking for deals. When it comes to food shopping, the earlier the better. Many stores have already started their holiday season specials, so keep an eye out for coupons and discounts. Break up the Turkey Day shopping list and pick up a few items during your regular supermarket runs. Speaking of turkey, it’s time to get your pre-orders in. Spare yourself the stress of hunting down a turkey at the last minute by reserving a frozen turkey now. If you’re feeding a crowd, don’t limit yourself to just your local grocery store. Membership warehouses like Costco, Sam’s Club, and BJ’s are great places to find deals on bulk wine, beer and other drinks, as well as produce, frozen items, and desserts.

Buy the right size turkey: According to the Natural Resource Defense Council, about 204 million pounds of turkey, worth a total of $293 million, is tossed in the trash each year. The general rule of thumb to figure out how much turkey you need is 1 to 1 ½ pounds of turkey per person. Don’t worry, you’ll still have leftovers.

Sharing is caring: Who says you have to do all the cooking? Maybe this is the year you go potluck. As the host, you can provide the main meat dishes like turkey, ham, lasagna, or whatever your family traditions include. Then, ask your guests to each bring a side dish, dessert, or a bottle of their favorite beverage to complete the spread. But be sure to confirm what each person is bringing, or you may end up with five green bean casseroles.

Outsource the meal: Do you want to host Thanksgiving dinner but you’re not up to cooking this year? Check out mail-order meal kits. Some consider it the best of both worlds. It’s still a home cooked meal, but the menu and ingredients are all delivered right to your door. If you prefer to have someone else do all of the cooking, start scoping out local restaurants and grocery stores for Thanksgiving Day catering deals. You will likely spend more money than going the DIY route, but the savings in time and stress may be worth it. The most important thing this time of year, is to enjoy the holiday season and spend time with loved ones.

Happy Thanksgiving!

Article Source: Myriam DiGiovanni for Financialfeed.com