Hey Taylor – I’m trying to get ahead on my holiday budget and just had a terrible epiphany: before I even get to Christmas time, Thanksgiving dinner has already dealt my bank account a significant blow. We always host a group of 15-20—any crafty ways I can cut costs on this event? – Penelope

Hey Penelope – Panicking about Thanksgiving while there’s still time is actually a good thing. Don’t let it ruin your entire Fall, but if you start doing some of the shopping and menu planning now, you’ll actually avoid the usual financial hit. Here are a few easy ways to save.

–1. Search for the sales. Two or three or four weeks before turkey day, you’ll see a lot of grocery stores advertising some pretty good sales. These bargains will be long gone the week of Thanksgiving; they’re trying to push inventory in early November to make room for all the food they need for the holiday week. That said, not every item will be cheap. Some years it’s going to be yams, other years it’s brussels sprouts, and still other years it’s green beans. If you can let the cheapest items dictate the side dishes you make and get a turkey in the freezer whenever prices are lowest, you’ll be in good shape.

–2. Shop your shelves. Cooking for 20 people can be overwhelming, so it’s no wonder you end up shopping too much and blowing up your budget. Before you make a grocery list and head straight to the store, look and see what you’ve already got in the cupboards. Maybe this is the year you make macaroni and cheese as a side dish, or a three-bean salad. It might not be a traditional part of your menu, but if the ingredients are already in the pantry and the recipe looks tasty, no reason not to make it happen.

–3. Dial it back and ask for help. You know what costs too much? Cooking too much. I know the great fear is that you’ll have all these people over and not enough food, but has that ever actually happened? Or do you have more leftovers than you know what to do with? If it’s the latter, make one less dish, or cut some of the recipes in half so you don’t have to buy as many ingredients. Better still, ask some guests if they wouldn’t mind bringing a dish or two. I bet people would love to help out, knowing that you go through the trouble of hosting year after year. Making one thing isn’t a big deal for someone else, while taking those ingredients off your grocery bill will be a big deal for you.

At the end of the day, it’s not about how fancy your table looks or how many dishes you serve—it’s about the people around it. Focus on that, find ways you can save in the upcoming weeks, and you’ll have an awesome Thanksgiving at a fraction of the cost you’re used to. Good luck!

 

Taylor Kovar, CFP®

CHIEF EXECUTIVE OFFICER