Gravy and thanks will not be the only things doled out in large quantities this Thanksgiving. A new study shows that Americans expect to spend more money on this year’s holiday than in previous years — and not just on new belts.
On average, Americans expect to pay $186.05 in total expenditures this Thanksgiving, according to a study from financial services website LendEdu.
So where is that money being spent?
According to the study, Americans expect to spend around $33.49 on travel expenses and $152.56 on the meal itself.
LendEDU has been conducting this Thanksgiving survey since 2016. Back then, Americans expected to pay just $165.14. In 2017, that rose to $175.65. That’s around an 11% increase from 2016 and an average increase of $10.46 a year.
The study notes that some respondents said they were going to host more elaborate, pull-out-all-the-stops Thanksgiving celebrations with upward of 20 people in attendance. Those respondents likely skew the overall average upward.
A sample of 1,000 Americans were surveyed.
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