Thanksgiving is a popular holiday, but the cost of celebrating can get out of hand if you’re not careful. Although the average price of ingredients for a Thanksgiving dinner is around $50, according to Statista, that number might not hold if you have a lot of guests.
Luckily, you can keep the cost of Thanksgiving dinner down with the right plan. Here are the best savings tips, from personal finance and shopping experts, for a full Thanksgiving meal that won’t ruin your budget.
[See: 10 Tasty Tips for a Frugal Thanksgiving.]
1. Make it a potluck. If you plan ahead, you can find many ways to save money on Thanksgiving dinner. One of the best ways to spread out the cost of dinner is to organize a potluck.
“Prepare the main dishes, but ask for some help with the sides,” says Kyle James of Rather-Be-Shopping.com. “Most family and friends are more than happy to bring side dishes, drinks, appetizers and dessert.”
A potluck can be a great tradition, with long-term benefits. “Over the years, it begins to run like clockwork, as everyone knows what their specialty is and everyone looks forward to Aunt Millie’s famous sausage stuffing,” says grocery expert Teri Gault. “No one has to do all the work. Everyone wants to have a part in making Thanksgiving something to remember.”
2. Plan and organize your dishes. Once you’ve decided on a potluck, you should assign dishes to your guests. “It’s a holiday, so let everyone contribute. Don’t be afraid to let them know what you need specifically for a well-rounded menu, and let them know how many [people] to prepare for,” Gault says.
Sides, such as potatoes and yams, will be on sale for Thanksgiving, Gault says. “They’re a must-have as they are a super cheap filler,” she says. “Even if not on sale, a 10-pound bag of potatoes with your butter on sale — and milk — will cost about $5 and will feed 20 people.”
But try to stay away from canned yams and boxed potatoes, she says. “Your best price and flavor are in the fresh produce section. Some may have limits, which indicates a loss leader,” Gault says. Loss leaders are items sold at huge discounts in order to lure customers in and get them to buy other, more expensive products.
[See: 20 Tips for Saving Money at the Grocery Store.]
3. Buy in bulk and save. Thanksgiving is one of the best times of the year to buy food in bulk, James says. “Take advantage of your Costco membership when buying for the big meal,” he says. “It’s one of the only times of the year where you might consume the cheap, and big, bag of potatoes or ginormous box of stuffing.”
Keep your eye out for loss leaders, and buy as much as you can. “If there is a limit of how many you can buy [for] the sale price … buy the limit,” Gault says. “There will be sales that save you something like $1 per item if you buy a specified number. The savings add up, and you can also use manufacturer coupons with these deals.”
When you do buy in bulk, be sure to seek out generic or store-brand ingredients, says Kendal Perez, a spokeswoman for CouponSherpa.com and contributor to the U.S. News My Money blog. “Popular ingredients like flour, sugar, spices, pumpkin puree and frozen green beans need not be purchased as premium brand names,” she says. “Consumers can save 30 to 50 percent by purchasing generic or store brands compared to brand names … without sacrificing flavor.”
4. Stack coupons and discounts. Buying in bulk can help you save, but don’t forget to stay on top of sales and coupons. “Thanksgiving dinner staples are on sale throughout November, so plan your menu early and stock up on ingredients when they’re marked down,” Perez says.
Thanksgiving is also a convenient time to stack manufacturer coupons, store coupons and sales, adding up to even bigger savings, Gault says. “Check the supermarket’s app for additional savings with digital coupons,” she says.
Another good way to approach shopping for Thanksgiving ingredients and dishes is to plan your menu based on store sales, Gault says. Although tradition can be tough to break, especially on Thanksgiving, you shouldn’t let it dictate what you prepare and serve, Perez says. “To avoid packing up leftovers of dishes you didn’t like well enough the first time around, consider what went untouched last year and make something else this year,” she says.
You don’t need to shop at a club store to score the lowest prices because most supermarkets will offer lower prices anyway, Gault says. “Choose your best supermarket — the deals are over-the-top fantastic for Thanksgiving and all of the supermarkets are running more loss leaders than [at] any other time of the year,” she says. “Take a glance at the front page of the sales circulars in your area and decide where you want to shop.”
[See: 8 Big Budgeting Blunders — and How to Fix Them.]
5. Stick to turkey. Many families like to cook up multiple meat plates, such as ham or cornish game hen, in addition to turkey. Although this can provide variety, it can be a drag on your wallet.
“Go for the turkey and pass on the ham,” James says. “Turkey is pretty darn cheap. Ham? Not so much, especially the honey-glazed variety.”
Turkey might be cheap around Thanksgiving, but that doesn’t mean you should settle. “Stores offer deals on turkey to compete for consumer dollars, so compare prices and offers before you shop,” Perez says. “In previous years, offers include a free turkey with purchase of $100 or $150 in groceries; or reduced-price turkeys when you spend at least $20 or $50. You can typically save 40 percent on the price of the bird when you buy frozen over fresh.”
There’s no reason to lose quality when you’re trying to save money on Thanksgiving. With these five simple steps, you can plan from start to finish an affordable Thanksgiving dinner that everyone can contribute to — and enjoy.
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5 Tips for Cooking a Full Thanksgiving Meal on the Cheap originally appeared on usnews.com
