Bake the bird without breaking the bank
Thanksgiving and yearend holidays bring the joys of gathering with loved ones, sharing festive meals, and creating lasting memories. However, inflation has put the squeeze on the banquet table the past couple of years, and many families are feeling the pinch as they prepare for the holiday season. This month, we offer some practical and effective strategies that can help you fight inflation at the supermarket without sacrificing the quality and abundance of your holiday feast.
Start with a Plan: Menu and Budget
The first step to saving money is to plan well. Thanksgiving and holiday meals can be extravagant affairs, and it’s easy to get caught up in the excitement of buying more than necessary. Avoid this by creating a clear and specific menu for your gathering, including appetizers, main courses, side dishes, desserts, and drinks. Know the number of guests you expect, so you can buy appropriate amounts. Don’t plan so tightly that you risk running short on food. It’s okay to have a reasonable amount of leftovers; just don’t buy so much that it results in waste. That’s like tossing money in the trash.
A realistic budget is also important. Set a limit on what you’re willing to spend and be disciplined in holding to it. Use grocery apps or store websites to check prices ahead of time, so you can estimate the total cost and adjust your plan, if necessary. Being conscious of your budget before you set foot in the store will prevent overspending.
“Impulse purchases are the quickest way to derail a budget, especially during the holidays”
Make a List and Stick to It.
Impulse purchases are the quickest way to derail a budget, especially during the holidays, when grocery stores are filled with tempting seasonal products and promotional displays. To avoid the impulse buying trap, always shop with a list based on your planned menu. A list not only keeps you focused and saves time in the store, it also helps you stay on budget.
Focus on Seasonal and Affordable Ingredients.
One way to keep your grocery bill under control is to focus on seasonal produce and affordable staples. In-season items—especially produce—tend to be fresher and more affordable, and they can add a burst of flavor to your holiday dishes without costing a fortune.
Turkey—the good news: The price for the traditional Thanksgiving main dish has actually decreased by double digits each of the past two years, running counter to the overall inflationary trend in food and grocery items. This is largely due to recovery from the avian flu outbreak that decimated turkey stocks and sent prices soaring in years prior. Regardless of the reason, it’s welcome news this season.
Seasonal produce for the holidays: Plan your menu around affordable options and get creative with recipes to make the most of what’s in season.
- Squash: Butternut, acorn, and spaghetti squash are versatile and inexpensive. They can be used in soups, roasted, or stuffed as a side dish.
- Sweet potatoes: A holiday favorite, sweet potatoes are usually affordable and can be roasted, mashed, or baked into casseroles.
- Cabbage and root vegetables: Cabbage, carrots, beets, and parsnips are budget-friendly and can be incorporated into salads, stews, or side dishes.
- Apples and cranberries: Perfect for pies, sauces, or even savory dishes, these fruits are often reasonably priced in the fall.
Shop Sales and Use Coupons.
Holiday meal planning can begin weeks in advance, which gives you ample time to hunt for deals. Many grocery stores offer discounts on traditional items like turkeys, stuffing, and canned goods leading up to the holiday season. Take advantage of these deals by shopping strategically. Here are some tips on how to do it:
- Look for store loyalty programs: Many supermarkets offer members-only discounts or points systems that can save you money on future purchases.
- Clip coupons: Use digital and paper coupons to reduce costs. Couponing apps like Ibotta or Rakuten can be especially useful during the holidays.
- Stock up on essentials: If you find non-perishable items like canned vegetables, gravy, or spices at a low price, stock up ahead of time to avoid last-minute price surges.
- Take advantage of loss leaders: These are items stores price very low (often below cost) to attract customers. Many supermarkets offer heavily discounted or even free turkeys when you spend a certain amount on other groceries. Sharpen your pencil and see if deals like this make sense for your plan and shopping list.
Look for Store-Brand Alternatives.
Name-brand products often come with a higher price tag, but the truth is, many store-brand alternatives are just as good—sometimes even better. Items like canned goods, baking staples, and spices are often produced in the same facilities as their name-brand counterparts but cost significantly less.
Opting for store brands can shrink your grocery bill by a third or even more. Considering the average household spends up to 12% of its disposable income at the grocery store, that’s nothing to sneeze at! Many retailers also offer upscale store-brand product lines as well that focus on organic or premium ingredients.
Buy in Bulk—But Only When It Makes Sense.
While bulk shopping can be an excellent way to save money, it’s important to be strategic about what you buy in large quantities. Focus on items that have a longer shelf life or that you can use for multiple meals during the holiday season. If buying in bulk leads to waste, it’s really no bargain, so shop wisely. Try bulking up on some of these items:
- Flour, sugar, and other baking essentials: These can be used for baking pies, cookies, and other holiday treats.
- Canned goods: Items like canned pumpkin, green beans, or corn can often be found at a lower cost when purchased in bulk.
- Spices and herbs: If you use a lot of specific seasonings during the holidays, buying them in bulk can be more economical than purchasing small containers.
“Opting for store brands can shrink your grocery bill by a third or even more.”
Use Cash-Back and Reward Programs.
Take advantage of cash-back apps and reward programs that give you a return on your grocery spending. Apps like Fetch Rewards, Ibotta, and Checkout 51 allow you to earn money back on your purchases by scanning receipts or shopping through the app. Major credit cards also typically offer cash-back rewards for grocery shopping, which can help offset costs. Many supermarket chains have their own branded credit cards and rewards programs that will help you save on your regular shopping year-round.
Host a Potluck and Share the Cost.
Hosting and preparing a complete Thanksgiving dinner is a huge undertaking, and most families and friends approach it as a potluck affair, sharing the labor and the costs. Keep in mind that potluck dinners require a different type of planning. Rather than you making an end-to-end menu and shopping list, you’ll need to coordinate what guests are providing. After all, you wouldn’t want half a dozen batches of green bean casserole showing up at your doorstep when what you really need is a good bottle of wine, some mashed potatoes and pumpkin pie. Turn on your organizational skills and prepare to herd cats when you plan a holiday potluck, but in return, you’ll save lots of money and hours in the kitchen.
Savor the Season without Breaking the Bank.
Inflation may be making it more challenging to prepare holiday meals on a budget, but with careful planning, smart shopping strategies, and a focus on resourcefulness, you can enjoy a bountiful Thanksgiving without overspending. By sticking to a plan, shopping sales, and making the most of seasonal ingredients, you’ll create a holiday feast that’s both delicious and affordable.
This holiday season, focus on what truly matters—quality time with loved ones and the joy of sharing good food together. With these tips, you’ll fight inflation at the register while keeping your celebrations just as special as ever.
BONUS—More Pro Tips:
- Shop early to avoid last-minute out-of-stocks during the peak-demand period.
- Prioritize your menu: Decide which dishes are essential and which can be modified or substituted in case items are unavailable or you run up against your budget limit.
- Build a cushion: Leave a little wiggle room in your budget for unexpected price fluctuations, so you’re not caught off guard.