How to Host Thanksgiving without Going Broke

In a moment of weakness (or insanity), you agreed to have all your relatives over for Thanksgiving, but now you’ve got plans to make and details to manage.  You have to clean the house like crazy for a week, and it’s important to make sure that everyone knows what time to be there. 
 
Most important, though, you have a lot of food to buy and a lot of cooking to do.  With all these details, it’s very easy to get caught up in the moment and spend way more than you should.  Having family over can be a lot of fun, especially if there are relatives coming that you rarely see.  That doesn’t mean it’s all right to splurge beyond your financial means.  The good news is that, with a little extra effort, you can have a wonderful dinner within a reasonable budget. 
 
The biggest mistake people make when preparing for Thanksgiving, or any large gathering for that matter, is that they feel they have to impress people.  Naturally, you don’t want your relatives to walk away feeling as though they had not enjoyed the event, but it is possible to go overboard.  So don’t feel you have to buy the most expensive of everything just to impress people.  It's often impossible to tell the difference. 
 
For example, the cost of the turkey, which is probably the most expensive single food item you’ll purchase, can vary quite a bit between brands.  Do a little comparison shopping between the nationally known brands and the store brand.  You may find about a 20 to 25 percent difference, saving five to ten dollars. 
 
The same can be said for most of the food you’ll be serving.  If you’re making several pies and you need to buy sugar, do you think there’s a difference in flavor between the national brand and the store brand?  After all, you’ll probably prepare a lot of the food from scratch, so we’re talking about very basic ingredients, like flour, butter, margarine, potatoes, spices and eggs.  For some items, the difference may be even less than a dollar, but overall, the savings will really add up. 
 
In addition, take some time to read the coupon section in the paper a week or two ahead of time.  Coupons can save between five and ten percent on your total grocery bill.  Don’t get carried away--only clip a coupon if it’s something you need.  Don't try something out just because you see a coupon for it. 
 
Another great way to save money is to hold back on the decorations.  If you think about it, as long as your home is clean and tidy, who cares if you put up brown and orange bunting across the living room, or use the little napkins with the turkeys on them, or put out the paper turkey centerpiece on the table.  The same can be said of spending money on little turkey shaped dishes.  Your relatives are coming to see you and your family and to enjoy a nice dinner. 
 
Finally, if your budget is a little tight this year, but you still want to have a nice Thanksgiving at your house, cook the turkey and ask everyone else to bring a covered dish or dessert.  In addition to helping to share the financial burden, everyone will feel as it they've contributed to the experience.  It is, of course, a good idea, to ask everyone in advance what they plan to bring, so you don't end up with five green bean casseroles and no mashed potatoes. 
 
Article written by Morgan Gee, Consumer Credit Counseling of Central Illinois.