Host the Thanksgiving you want—without going over budget
Whether you serve turkey and potatoes, or wine and chips, here are 7 tips for making holiday memories without overspending.
By ATB Financial 7 October 2024 5 min read
The pumpkins are out and the leaves are changing colour. That means Thanksgiving, a time to share a meal and quality time with family and friends, is around the corner.
But rising food costs and the pressure to create a picture perfect-holiday table to post on social media has some Albertans feeling stressed.
You want to host Thanksgiving for the people you care about, but you also don’t want to overspend.
It is possible to stay on budget, whether you’re planning a traditional Thanksgiving gathering with a white table cloth, turkey, and yams, or a Friendsgiving with bread, wine, and charcuterie. But it takes a bit of planning.
We asked ATBers to share their best advice for hosting a budget-friendly Thanksgiving —based on their own lived experiences. Here are their top tips.
1. Plan according to your budget (not the other way around)
Consider what really matters to your celebration. The answer will be different for everyone, but for lots of us, good food and good company matter the most. It’s OK to keep your Thanksgiving simple on purpose.
Next, compare what you’re able to spend to your guest list, and calculate the cost per person. If the size of the list makes your budget unmanageable, consider hosting a more intimate gathering or asking your guests to pitch in by bringing a dish or a bottle of wine.
Don’t feel pressured to increase your budget to include extra items like fresh flowers, bakery desserts, or cranberry cocktail ingredients.
Make sure you factor in the money you’ll save by eating leftovers after Thanksgiving dinner. Those turkey and stuffing sandwiches and that mountain of mashed potatoes will help reduce your grocery bill for at least a few days.
Even with a fixed budget, paying for each part of a Thanksgiving celebration can feel like a lot all at once. If you set aside a small amount of money from each paycheque in advance, your expenses will feel more manageable when it’s time to buy ingredients.
If it’s too late to set aside money for this year’s Thanksgiving, try it for Christmas, Hanukkah or New Year’s Eve. Or, tally up what you spent on Thanksgiving this year and make a plan to save the same amount before your celebration next year.
2. Get creative with the food you’re serving
Some people love Brussels sprouts, but there’s no rule that says you have to serve them. Same goes for a whole turkey. If the cost of roasting a turkey is too much, try serving chicken thighs instead.
If you’re a vegan or vegetarian group, you could serve a big pot of bean chili or lentil soup with root vegetables. Root vegetables are in season in Alberta and relatively inexpensive, and a big soup can easily feed eight people.
If your group prefers to graze, skip the plated meal altogether and plan to serve bread, crackers, cheeses, apples, meats and your favourite $20 bottles of wine.
When deciding what to make, weigh the pros and cons of baking a dessert like a pumpkin pie from scratch versus buying one. If you don’t already have flour, butter, a rolling pin, and a pie pan, it may actually be more budget-friendly to buy the pie at the grocery store.
3. Create a shopping list and stick to it
As you build your list, check your pantry and your freezer for items you might already have. There could be packets of gravy sitting on your shelf or dough for rolls in your freezer from last year. If you’ve got green beans on your list but there are frozen peas in your freezer, just use the peas.
When it’s time to shop, consider visiting a more affordable grocery store like No Frills or buying in-season produce from your local farmers’ market.
If you’re worried you’ll impulse buy extra items while you’re shopping, even with that list you made, remove the temptation by ordering what you need online and getting the groceries delivered.
Don’t forget to shop early. The closer you get to Thanksgiving, the more crowded stores will get. If the ingredient you need is sold out, you might have to increase your budget to purchase an alternative.
4. Turn the gathering into a potluck
When you invite your friends and loved ones to a potluck-style Thanksgiving feast—where everyone brings a dish to share —it helps everyone stay on budget. It takes the pressure off a single person to host and prepare an elaborate spread.
It’s also a heartwarming way to bring your community together, meet new people, and try new foods.
If you’ve got a theme in mind, assign each guest a dish. Or, create a shared Google doc so that your guests can sign up to bring their preferred dish, share allergies and dietary preferences, and swap recipe ideas.
If your guests don’t cook, they can always contribute items like flowers, paper plates, napkins, drinks, or ice.
5. Get crafty with your decor
You can save money by leaning into nature-inspired decor you could gather from outside. Pine cones, leaves, and branches make simple, rustic centerpieces.
If you decorate with squashes, pumpkins, and apples, you can add each item to soups and pies after your Thanksgiving gathering is over.
You don’t need new decor every year, but if you’re hunting for something specific, try your local discount or thrift store for vases and harvest-themed wreaths before paying full price somewhere else.
6. Start preparing early
No one likes to feel stress on Thanksgiving Day. By preparing early, you’ll avoid spending money to solve last-minute problems.
If you plan to bake, get it done a few days before your gathering to make sure you’re not competing for oven space—or putting in a frantic order at your local bakery for three pies that weren’t part of your original budget.
Count your chairs a week ahead, so that you can grab an extra one from a neighbour or ask your guests to bring spares.
7. Ask for help
No matter your budget, Thanksgiving is a time to enjoy your friends and family and gobble up delicious food.
Ask your guests to pitch in with food prep and clean-up, so that you get a chance to make memories too.
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