5 Ways I Cut $40 From My Thanksgiving 2024 Grocery Bill

Thanksgiving is right around the corner, and anyone hosting a gathering is likely knee-deep in menu planning and food shopping. Whether you’ve already bought your groceries or haven’t hit the stores yet, one thing’s for sure: the price of a Thanksgiving dinner has risen considerably over the years.

In fact, the price of a classic Turkey Day feast for 10 is currently 19% higher than it was just five years ago, according to the Farm Bureau. The bureau reports the following average prices in 2024:

Depending on the size of the gathering, you could be looking at a three-figure bill, especially when you factor in ingredients like butter, eggs, cheese, spices, flour and sugar — as well as drinks.

This year, I tried to get a better handle on Thanksgiving dinner spending than in previous years. Below are five simple ways I managed to better manage the high costs of a Thanksgiving dinner in 2024—and one thing I wish I’d done differently in hindsight.

1. I made a budget for Thanksgiving.

I listed the dishes I planned to serve, along with the corresponding ingredients I would need to purchase. From there, I was able to work out roughly how much I would spend. I factored in the costs of the non-food items I needed to cook and serve the meal: a new glass baking dish and some new trivets.

Advice: When creating your Thanksgiving shopping list and budget, be sure to “shop” your pantry by checking off any necessary spices or canned goods you already have on hand.

Conclusion: I estimated my Thanksgiving bill to be around $130 before using coupons or any special offers I would find when reading the store ads. I challenged myself I respect my budget and I made plans for the money I was determined to save (more on that later).

2. We split the costs over two salaries.

While this step didn’t necessarily result in tangible savings, my Thanksgiving shopping in early November helped me split the total cost over two paychecks. Early on, I purchased things with a longer shelf life, such as beverages and some canned goods.

Advice: As luck would have it, November is a month of three salaries for many consumers this year—potentially creating an opportunity to share your expenses. These months can come in handy, whether you’re hosting a large gathering, building an emergency fund, or paying off debt.

Conclusion: Dedicating money from several paychecks to a Thanksgiving dinner (or any big purchase, for that matter) can keep you from feeling financially overextended in the days leading up to the holiday.

3. I saved $20 by shopping at 3 different stores.

In planning my Thanksgiving shopping, I looked up the online prices of three nearby stores: Meijer, Jewel, and Aldi. I noted which store offered the best prices for each item on my list and made my purchases accordingly. Each of these three retailers offered the lowest prices on various items I needed.

Advice: A recent study by Coupons4real found that Walmart has the lowest prices on own-label grocery products, with its products among the cheapest by 20% compared to other large retailers. After Walmart, in order from lowest to highest store brand price, were Aldi, Costco, Target and Kroger.

Conclusion: By my estimates, I saved around $20 doing research and shopping at all three stores versus shopping at one store for everything.

4. Saved another $20 using coupons.

The last time I shopped at Meijer, a store coupon was printed with my receipt for $10 off a future purchase. I was excited to be able to apply this to my Thanksgiving shopping trip to the store the following week. Plus, I also used a store coupon at Jewel for 20 percent off a future purchase (which I got after my flu shot at the pharmacy there).

Using the stores’ apps, I also clipped a few online coupons for the items I was buying to save a few extra bucks.

Advice: If you happen to have a store coupon to save a set dollar amount or percentage off your bill, consider timing it with your dinner. of Thanksgiving shopping.

Conclusion: Between store coupons and online coupons, I was able to save $20 on my grocery shopping.

5. I gladly accepted my guests’ offers to bring dessert and a side dish.

One of my relatives kindly offered to bring two pies and some gourmet coffee, while another offered to bring a savory side dish. I gladly approached them, which saved me not only some money, but also the time and trouble of preparing these articles.

Advice: Accept offers from your guests. who are willing to bring food, which will save you time and money.

Conclusion: I’m grateful that my family members bring meals, which not only lowers my grocery bill, but also saves me time in food preparation and shopping.

One thing I learned

I told my story in terms of how I carefully budgeted and planned my Thanksgiving dinner purchases. There is one thing I regret doing though: I rushed my turkey at the first store I saw turkeys for sale because I was happy with the selection of sizes offered. In retrospect, I wish I had compared prices first because it would have been cheaper elsewhere and other stores had plenty of turkeys available in the size I wanted.

What I did with my $40 savings

Thanks to shopping and using coupons, I saved around $40 on my Thanksgiving shopping. When all is said and done, I’d be remiss — especially as a banking reporter — if I didn’t transfer the money saved to high yield savings accountso now earn one of the best rates around on deposit accounts.

When it comes to people’s savings and spending choices, it can be easy to let spending get a little out of hand during the winter holidays, says Bankrate senior economic analyst Mark Hamrick. “Rather than skimping on holiday spending, there’s an opportunity to create a budget that includes meeting a range of financial goals. These should include adding to a high-yield savings account.”

With the year coming to an end soon, it may be a good idea to create a financial plan for the coming year. “It’s never too early to start thinking about budgeting and saving for spending needs in the coming year, including the 2025 holiday season,” says Hamrick. “With savings, as with loans, it always pays to shop around for the best rate.”