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5 Ways To Save Money On Thanksgiving Dinner

According to a report from the American Farm Bureau Federation, you’ll spend 13% more on Thanksgiving groceries than you did in 2010. The report also mentions how the average cost for a Thanksgiving dinner to feed 10 people in 2010 was $43.47 and this year, it’s expected to be $49.20.   I’m not sure what town the Farm Bureau got this data from, but I don’t think I’ve ever been able to pull off a Thanksgiving dinner for $4.92 per head.  Of course if you’re drinking two buck Chuck from Trader Joe’s than it possible to hit this number as long as nobody gets second helpings of stuffing.    With the rising costs of milk, turkey, and other consumer staples, you are likely to pay more this year if you are hosting Thanksgiving Dinner.   Here are a few tips that might save you some money and still pull off a nice meal.

  1. Go pot luck with your relatives or friends  Ask each member in your family to either bring an appetizer or bring a dessert.   You can keep costs down by just sticking to the main meal and drinks.   This may mean you suck it up and eat your Aunt’s least favorite spinach dip as voted by everybody at last Thanksgiving meal.
  2. No green peas or pumpkin pie  These two items were up over 15% in price over the past year.   I know pumpkin pie is a favorite of many people during this holiday, but it’s just a pie.   This may shave a few dollars off your bottom line.
  3. Use your smart phone for coupon saving apps   You can also get our 100 Money Saving Idea websites from www.oxygenfinancial.net, but just use the search function for Thanksgiving and coupons and see what pops up on the phone.  Just double checking for coupons before you do the big shopping can put money in your pocket.
  4. Don’t buy that store bought bundle of wood Make a game with the kids for picking up twigs, loose wood, or spend some time the day before splitting some wood in your backyard.  Those store bought bundles of wood usually only carry 6 to 8 sticks of wood and sometimes it isn’t even the best burning wood.  This is a big waste of money due to lack of planning.
  5. Use decorations from your backyard – Rather than buying a big centerpiece and a whole bunch of Thanksgiving items you are just going to throw away, use the beauty of the fall around you to make some homemade centerpieces.  You can use items like leaves, pine cones, acorns, and much more to serve its purpose.  You won’t win any awards, but nobody will care after their second glass of wine!

There a few holidays better than enjoying some football, food, and family.  However, with a little bit of communication and planning you can pull it off without denting a hole in the family budget.

Go to www.oxygenfinancial.net to request a consultation with the leading financial experts for Generation X in the country.

Written by:

Ted Jenkin, CFP®, AAMS®, AWMA®, CRPC®, CMFC®, CRPS®

Co-CEO and Founder of oXYGen Financial, Inc

Ted Jenkin is one of the foremost knowledgeable professionals in giving financial advice and Smart Money Moves to the X and Y Generation.

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About the author  ⁄ Ted Jenkin @ Your Smart Money Moves

Ted Jenkin @ Your Smart Money Moves

Hey!

My friends and family all think I’m a workaholic, but I say I’m just a guy that loves to help people do better in life.

My mother is still the only one that calls me by my real name Theodore Michael, my wife calls me Teddy, but for the rest of you it is just plain old Ted.

Ever since I was a little kid, I always loved money and being an entrepreneur. In fact, I still have cassette tapes of me talking to my grandmother at the age of five and my mother tells me all the time how much I played with money as a kid...

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Ted Jenkin is a frequent guest columnist for the Wall Street Journal and Headline News Weekend Express. He is the co-CEO of oXYGen Financial. You can follow him on LinkedIn @ www.linkedin.com/in/theceoadvisor or on Twitter @tedjenkin.

Securities offered through Kestra Investment Services, LLC (Kestra IS), member FINRA/SIPC. Investment advisory services offered through Kestra Advisory Services, LLC (Kestra AS), an affiliate of Kestra IS. oXYGen Financial is not affiliated with Kestra IS or Kestra AS. Kestra IS and Kestra AS do not provide tax or legal advice.

The opinions expressed in this commentary are those of the author and may not necessarily reflect those held by Kestra Investment Services, LLC or Kestra Advisory Services, LLC. This is for general information only and is not intended to provide specific investment advice or recommendations for any individual. It is suggested that you consult your financial professional, attorney, or tax advisor regarding your individual situation. 

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