While the day after Thanksgiving is the official kick-off for the holiday shopping season, spending usually begins before Turkey Day even rolls around. Not only does the gift-giving season hurt our wallets, but those hefty grocery bills don’t feel so great either.
If you’re looking to celebrate Thanksgiving on a budget, here are five ways to reduce the financial burden.
1. Budget and compare
Before shopping, make a budget and a grocery list with every item you need. This can help you stay focused on purchasing only what you need. Unlike most items in high demand, turkey prices actually go down in November, and large chain stores typically try and outdo each other with discounts and promotions. Shopping around for the best deal can help you save some dollars, and don’t forget to look for coupons to save on sides.
2. Ask everyone to pitch in
There’s no reason you should have to make everything yourself. Ask your guests to each bring a side and a beverage. This way, you won’t spend your entire day in the kitchen or foot the whole bill.
3. Pare the menu down
Keep it simple by going with the staples or favorites. You can also save money by using seasonal fruits and vegetables and finding simple recipes that don’t require a ton of ingredients.
4. Make use of leftovers
Leftovers are sometimes the best part. But you can make use of them in different ways, including baking cranberries and other fruits and veggies into breads or muffins. Meats like turkey or chicken can be frozen or used in soups, sandwiches, quesadillas, and more.
5. Don’t shop just to shop
With the kickoff to the holiday shopping season starting the very next day (or that night), it can be hard not to give into a splurge. But while taking advantage of sales is good if it saves you money, just buying something because it’s on sale is not. Make your gift-giving list early, so you know what sales make sense to jump on and what you should pass on.
Put your savings in the bank
Once you’ve made it through Thanksgiving with some savings, put those extra dollars in the bank or pay more on your credit cards to help you kick off the holiday season with a healthier financial mindset and wallet.