It’s time to make your grocery list for Thanksgiving, but things might cost more than you think this year. Spending close to $1,000 for the annual fall holiday sounds like a lot — and it is. But, on average, that’s the amount that Americans are spending this year, per Chime.
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Part of the expense is that the average person will attend additional Thanksgiving events outside of dinner with their household, including traditional full-family gatherings (51%) and Friendsgivings celebrations (30%). Here’s how it all breaks down — and how you can spend less this year.
Food and Drinks: $285
According to the survey, Americans will spend an average of $175 on food and $110 on drinks. With the average host serving eight guests, that comes out to about $21.88 per plate. However, you can spend much less. According to Aldi, you can serve a Thanksgiving meal for about $4 per plate.
As far as drinks, the $110 probably involves alcohol, which is more expensive than making iced tea or serving sparkling water. To cut costs, purchase a couple of moderately priced bottles of wine, and when guests ask if they can bring anything, suggest bringing wine or other spirits. That way, you’ll have extra to serve and won’t be stuck footing the bill for alcohol you won’t use.
Decor: $83
Spending $83 on Thanksgiving decor could be extreme. Take the time to go through your drawers and closets to find fall or Thanksgiving-themed decorations you already have. Chances are, you’ll find what you need without having to purchase anything additional.
Another idea is to ask a close friend or family member who isn’t hosting Thanksgiving if they will let you borrow a few items for the day. If not, check out a few thrift stores in your area for cheap decor that will cost way less than $83.
Miscellaneous Expenses: $291
Miscellaneous expenses can include repairing an appliance or buying a new outfit, according to the survey. Although repair costs might not be avoidable, buying new clothes probably is. Search through your closet to find items you may have forgotten about; you might be surprised what you have.
Travel: $293
Some people are skipping Thanksgiving travel this year in an attempt to save. This includes 24% of Gen Zers who are opting to stay closer to home. To avoid traveling during the holiday, offer to host Thanksgiving at your place. If that’s not possible, find ways to reduce travel costs, including flying on Thanksgiving Day when fares are cheaper, according to UpgradedPoints. If you’re driving, avoid driving at peak times, pack your own snacks and drinks and book hotels that are outside of the city’s center to save money.
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This article originally appeared on GOBankingRates.com: The Average Thanksgiving Now Costs $952 — Here’s How to Cut That Down
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