Thanksgiving Spending: How Much Did Your Household Splurge on Turkey Day 2018?
As the leaves change color and the air turns crisp, many American households begin to prepare for one of the most cherished holidays of the year: Thanksgiving. This day of gratitude, family, and feasting can also be a significant financial undertaking. In 2018, the average American household spent a considerable amount on Thanksgiving preparations, from the traditional turkey and trimmings to decorations and travel expenses. Let’s delve into the details of Thanksgiving spending in 2018.
How Much Did Americans Spend on Thanksgiving Food in 2018?
According to the American Farm Bureau Federation, the average cost of a Thanksgiving dinner for 10 people in 2018 was .90. This estimate includes the cost of a 16-pound turkey, stuffing, sweet potatoes, rolls with butter, peas, cranberries, a veggie tray, pumpkin pie with whipped cream, coffee, and milk. However, this figure can vary significantly depending on the region, the specific items purchased, and whether or not the meal is homemade or catered.
What About Decorations and Other Thanksgiving Expenses?
Decorations are another area where costs can add up. According to a survey by LendEDU, the average American spent .88 on Thanksgiving decorations in 2018. Other expenses can include additional household items to accommodate guests, such as extra chairs, tablecloths, and dinnerware. Travel expenses are another significant factor for many families. The American Automobile Association estimated that 54.3 million Americans traveled 50 miles or more for Thanksgiving in 2018, with the average round-trip flight costing 8.
How Does Thanksgiving Spending Compare to Other Holidays?
While Thanksgiving can be a costly holiday, it is typically less expensive than other major holidays. For example, the National Retail Federation reported that consumers planned to spend an average of ,007.24 during the 2018 holiday season, which includes Christmas, Hanukkah, and Kwanzaa. This figure includes purchases such as gifts, food, decorations, flowers, and greeting cards.
How Can Families Reduce Thanksgiving Spending?
There are several strategies families can use to reduce their Thanksgiving spending. One approach is to share the cost of the meal by asking guests to bring a dish to share. Shopping sales and using coupons can also significantly reduce the cost of food. For decorations, consider using natural elements like leaves and pinecones, which can be collected for free. If travel is a significant expense, consider hosting a local “Friendsgiving” or using reward points to offset the cost of flights.
In conclusion, while Thanksgiving can be a significant expense, with careful planning and budgeting, it’s possible to enjoy a festive and delicious holiday without breaking the bank.
