{"id":17720,"date":"2026-01-23T04:06:00","date_gmt":"2026-01-23T10:06:00","guid":{"rendered":"https:\/\/www.discover.com\/online-banking\/banking-topics\/?p=17720"},"modified":"2026-02-06T17:31:06","modified_gmt":"2026-02-06T23:31:06","slug":"how-to-do-thanksgiving-on-a-budget","status":"publish","type":"post","link":"https:\/\/www.discover.com\/online-banking\/banking-topics\/how-to-do-thanksgiving-on-a-budget\/","title":{"rendered":"How to do Thanksgiving on a budget"},"content":{"rendered":"\n

Every November, family and friends gather to reflect on what they\u2019re grateful for and indulge in a home-cooked meal. But with food costs steadily increasing, Thanksgiving can easily be one of the most stressful and costly holidays of the year.<\/p>\n\n\n\n

The good news? You don\u2019t have to break the bank to host a holiday dinner that leaves your guests full and impressed. Here are some tips for hosting Thanksgiving on a budget without compromising on the warmth and joy of the holiday season.<\/p>\n\n\n\n

1. Get a head start on planning<\/h2>\n\n\n\n

It\u2019s never too early to start preparing for the holidays, especially if you\u2019ve volunteered to host. Haley and Justin Brown-Woods, financial coaches and hosts of the Price of Avocado Toast podcast, recommend thinking about what type of Thanksgiving you\u2019d like to create. Will it be casual or elegant? A full, traditional meal or just heavy appetizers?<\/p>\n\n\n\n

Most importantly: How big will the celebration be? Having a rough idea of how many people you\u2019ll be hosting will provide a better sense of how much food and drink you\u2019ll need, which can help you set a realistic budget.<\/p>\n\n\n\n

One tip: If you\u2019ve previously hosted Thanksgiving, review bank statements from those years to approximate your expenses<\/a> for this year\u2019s dinner. <\/p>\n\n\n\n

2. Keep your guest list in check<\/h2>\n\n\n\n

The more, the merrier, right? Not necessarily. Too many Thanksgiving guests mean more mouths to feed\u2014and more money spent. \u201cOne of the first steps we\u2019d suggest when doing Thanksgiving on a budget is being modest in who you invite,\u201d Haley says. More guests can mean you might need to plan for considerations like dietary restrictions or picky kids. To keep it simple, invite only close family members or just your immediate household.<\/p>\n\n\n\n

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\u201cAs you add to the list of guests, you need to ask yourself how much more of each dish you\u2019ll need to make,\u201d Haley says. \u201cBoiling a few extra potatoes is wildly different from making an entire new casserole pan of dressing. Do you plan on giving out leftovers to all? Do you have disposable containers to send it all home in? Ask yourself what kind of post-meal situation you\u2019re comfortable with and then build around that.\u201d<\/p>\n\n\n\n

3. Commit to a budget and build your savings fund<\/strong><\/h2>\n\n\n\n

Once you\u2019ve figured out the guest list and your overall style, determine a budget<\/a> for food, decorations, and other expenses based on how many guests you plan to invite. Then, pad your final budget to cover any unexpected costs that might pop up.<\/p>\n\n\n\n

Try to keep your budget limited to the essentials. \u201cYou do not need to buy or serve everything,\u201d Haley says. \u201cPotatoes don\u2019t need to be curated into four styles, and you don\u2019t need every extra casserole you saw on social media.\u201d<\/p>\n\n\n\n

Having a rough estimate for expenses is the first step toward building your holiday fund. To help your savings go even further, consider opening a high interest rate online savings account to take advantage of the compound interest it earns every month.<\/p>\n\n\n\n\n\n\n\n

\u201cWe suggest having a sinking fund in a high interest rate savings account built specifically for holidays that you can add to each month and then pull from when needed,\u201d Justin says. \u201cThis could be for things like groceries, gifts, excursions, or any other expenses that come with the holiday season. When we save in advance<\/a> for our goals, not only do we feel empowered, but we spend more intentionally because we recognize the work and planning that went into getting to that point.\u201d Not to mention, you\u2019ll experience lower overall stress if you come out of the holidays<\/a> without considerable debt to pay back in the new year.<\/p>\n\n\n\n

4. Take inventory of what you have<\/h2>\n\n\n\n

One simple trick to ensuring a successful Thanksgiving dinner on a budget? Figure out what you already have at home to reduce unnecessary expenses. Pantry staples, like sugar and flour, can last for many months, and there\u2019s no need to buy them brand new just for one dinner. If you\u2019re missing a certain-sized pot or baking tray, consider borrowing cookware from a guest before the big day. Thrift stores are also an inexpensive place to find what you need to help keep your Thanksgiving spending under control.<\/p>\n\n\n\n<\/div>\n\n\n

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“Remind yourself of what your values for the holiday are. If feeding people is a value, then how can we do that comfortably without breaking the bank?”<\/p>\n