Thanksgiving is a time to reflect on the past year and appreciate your blessings and opportunities. However, your festive feast could be gobbling up your budget. In 2019, the average American spent an estimated $186 on Thanksgiving – an over 5% increase from the previous year1. Of this, 82% is spent on food, drinks and other meal expenses1. Additionally, Americans purchase over 700 million pounds of turkey for their Thanksgiving meals each year – 35% of which goes to waste2.
Let’s take a look at a few ways you can trim your Thanksgiving spending and celebrate without starving your wallet.
- Go lean on meat
Avoid excessive leftovers and turkey ending up in the trash by sticking to no more than one pound of meat per person. It may seem sparse, but appetizers, sides and desserts will likely fill any extra space on the plate.
- Simplify the sides
Having too many side dishes may cause your food – and money – to go to waste. Try limiting your meal to a maximum of two or three sides.
- Skip the decorations
Many Halloween decorations such as pumpkins, leaves and harvest-décor can serve a dual purpose for Thanksgiving. Skip the extra work – and cost – and leave a few Halloween decorations up for your big feast.
- Cut down on desserts
By the end of the meal, many are no longer hungry for dessert. Save your time and money this year by paring down to one or two sweet treats. Plus, less food means less time spent boxing up leftovers!
- Pay smarter and earn more
Leverage an APGFCU® Credit Card to earn cash back on purchases or gift cards and other rewards, which can go toward helping you cover your Turkey Day feast. Find the card that’s right for you and apply today.
- Unlock extra funds
If you need extra cash this holiday season, we are here to help. Apply for a low-rate personal loan or take advantage of our debt consolidation options to get the cash you need to cover holiday expenses.