Worried your holiday budget will be stretched too thin to get all the gifts on your list this year? Before we even get to Christmas and Hanukkah, we’ve got Thanksgiving next week, and new research reveals just how expensive it can be. It finds the average American will spend nearly $1,000 this Thanksgiving between the meal and everything else.
According to a survey of 2-thousand U.S. adults who celebrate the holiday, the food alone will cost an average of $175 this year.
- That doesn’t include drinks, which will tack on an additional $110.
- Americans also like it to look festive for the holiday, spending an average of $83 on decor.
- Add another $291 for miscellaneous items, like a new outfit to wear to Thanksgiving dinner or to fix an appliance before guests arrive.
- People who are traveling will also spend an average of $293 to get to their Turkey Day destination.
- And that brings that Thanksgiving spending total to $952, on average.
- It turns out, Americans aren’t planning to attend just one celebration for the holiday, the average person will be going to three this year, including dinner with just those in their household (58%), traditional full family gatherings (51%) and friendsgivings (30%).
- That may be why more than half (59%) don’t just think of it as Thanksgiving “Day,” but a whole Thanksgiving “season.”
- To stay on track with all their spending for the holiday, 43% set a Thanksgiving budget, while 49% start planning and saving for it months in advance.
- Just over a third (35%) plan to spend less this year than for Thanksgiving's past, spending an average of 41% less.
- To keep costs down, people are hosting smaller gatherings (31%), and having guests bring some dishes (28%) instead of cooking everything themselves.
- No matter how much they spend, nearly half (45%) admit they feel pressure to host the “perfect” Thanksgiving.
Source: Talker⠀
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