Are you planning on celebrating Thanksgiving with a traditional turkey dinner this year? If you’re like 25% of Americans who responded to a recent survey, your answer is no. With inflation impacting the cost of everything, including the main piece of any Thanksgiving meal, you may be ditching the turkey this year and opting for…pizza?
As many Americans plan their Thanksgiving meals, many are choosing to celebrate the season of gratitude without spending money. According to a recent survey from Personal Capital, one in four Americans will be skipping the traditional meal all together. But that’s not all, 88% of respondents will be cutting at least one dish to save money. That’s a lot of green bean casseroles that aren’t making it to your dinner table this year.
With the economy affecting many people’s bank accounts, 45% of people feel financially stressed by their Thanksgiving dinners. But it’s not just inflation that’s causing the strain. More than half of the respondents (53%) lost their jobs in the past year. Of course those who experienced job insecurity are also less likely to splurge on a traditional Thanksgiving meal.
Guests May Have To Foot The Bill
How are Americans reducing Turkey Day costs this year? Some are celebrating their Friendsgiving meals with pizza instead of turkey. Others are keeping their Thanksgiving dinner small, while some Americans are getting more creative. For many people, Thanksgiving dinner looks like a potluck. Friends and family are typically asked to bring a side dish, dessert, or drinks. But this year, hosts are going one step further.
Going to a Thanksgiving dinner? You may be asked to pay for your meal! That’s right. The survey found that 42% of people are asking their guests to pitch in with some green, and we’re not talking salad or green beans here.
This year, 33% of Americans are also reducing the cost of their Thanksgiving budget from last year’s expenses. When you look at the generational breakdown, Gen X is being the most frugal. According to the survey, 40% of Gen Xers plan on spending less than $100 for their turkey day meal.
Cost-Saving Strategies To Keep In Mind
With tight budgets and the rising cost of everything from sweet potatoes to turkey, how are Americans saving on Thanksgiving dinners? There are a few strategies that people plan to use that could work. Paying attention to deals topped the survey at 38%. Other strategies include using coupons, comparing prices, shopping the pantry first, not traveling, and buying a smaller turkey. While these are strategies most of us know, they can be helpful to keep in mind during the holiday season.
Regardless of how you’re celebrating Thanksgiving this year, just be sure to keep the turkey, gravy, and mashed potatoes. Those are the top three dishes that people would never cut from their Turkey Day feast, even when on a budget, and we understand why the classics have survived.