Are you going to be celebrating Thanksgiving with traditional turkey dinner? 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?
Americans are beginning to plan Thanksgiving meals. Many Americans choose to spend less money on the holiday of gratitude. A survey conducted by Personal CapitalOne in four Americans will skip the traditional dinner altogether. 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. 53 percent of respondents lost their jobs within the last year. This is more than half the total. People who have experienced job loss are less likely to spend on traditional Thanksgiving meals.
How can Americans lower the cost of Turkey Day this year? Some people are opting for pizza as their Friendsgiving meal. Some Americans choose to keep their Thanksgiving dinner simple, while others are more adventurous. Many people view Thanksgiving dinner as a party. Friends and family often ask for a side dish, dessert or drink to share. Hosts are taking it one step further this year.
RELATED:How do you compare to the National Average Grocery Bill
You are going to Thanksgiving dinner. It is possible that you will be asked to pay the bill 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. Gen X is the most frugal generation. According to the survey 40% of Gen Xers intend to spend less $100 on their turkey day meal.
Keep these cost-saving tips in mind
How can Americans save on Thanksgiving dinners when they have tight budgets and high prices for sweet potatoes and turkey? People have a few options that might work. The survey showed that 38% of respondents paid attention to deals. Another strategy is to use coupons, compare prices and not travel. These strategies are common knowledge, but they are useful to remember during the holiday season.
Regardless of how you’re celebrating Thanksgiving this year, just be sure to keep the turkey, gravy, and mashed potatoes. These are the three main dishes people will never sacrifice for their Turkey Day celebration, no matter how tight the budget. We understand why these classics have survived.