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We’ve all had a little sticker shock at the grocery store this last year as our go-to purchases have gone up, seemingly overnight sometimes. So it might not surprise you to learn that your Thanksgiving turkey is going to weigh a little heavier on your wallet this year. The same goes for a lot of other holiday staples.
But you don’t have to skimp on your holiday feast in order to save your bank account. These tips can help you plan your big meal on a small budget.
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How much will the average turkey cost you in 2022?
The average 16-pound Thanksgiving turkey cost about $23.99 in 2021, or about $1.50 a pound, according to the American Farm Bureau Federation. That was a 24% increase over 2020, and that trend is expected to continue this year.
Inflation, increased demand, and a highly pathogenic avian influenza (HPAI) outbreak have driven average turkey costs to record highs. The typical cost of a frozen hen between eight and 16 pounds hit $1.72 per pound in early September, according to the Farm Bureau. At that rate, a 16-pound turkey will cost the average family about $27.52 this year.
That’s a 14.7% increase over 2021, and some larger birds could cost even more. And then there’s increased costs on other Thanksgiving staples, including stuffing, potatoes, and pumpkin pie to account for. All this can leave your budget feeling uncomfortably tight, but there are a few things you can try to keep costs down.
3 ways to save on your Thanksgiving meal this year
Here are three tips to enjoy your Thanksgiving meal for less this year.
1. Shop smart
Make a list of what you need for your Thanksgiving meal and then hop online to see if you can find any coupons for them. You can also check with your local grocery stores to see if they’re running sales on popular Thanksgiving meal items.
Unless you’re strongly attached to a particular brand, don’t be afraid to swap your preferred item with a cheaper store brand. And use a grocery store rewards card at checkout, if you have one, so you can get some of your money back as rewards points.
2. Get help from family members
There’s no rule saying you have to pay for the entire Thanksgiving meal on your own. If you can’t afford to buy everything, talk to the other family members who will be attending your Thanksgiving meal and decide how you’ll split costs.
You could have everyone contribute some money toward the dinner or you could opt for a potluck instead where everyone brings a portion of the meal. One person makes the turkey, another brings the pumpkin pie, and so on.
3. Skip turkey altogether
Turkey might be traditional, but you can choose something else if it doesn’t suit your palate or your wallet. A lot of groceries have gone up in price this year due to inflation, but turkey costs are especially high due to the reasons outlined above. You might be able to prepare a different meal for less, and it could save you some time in the kitchen, too.
The holiday is still a few weeks away so there’s time to think through all your options. But if you’re planning a traditional Thanksgiving feast, you might want to start keeping an eye on costs now. Knowing what to expect will help you avoid an unpleasant surprise when you finally buy all your ingredients.
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