Key Takeaways
- Thanksgiving costs more than the dinner: in an October 2025 survey Talker Research ran for Chime, people planned to spend an average of $175 on food and $110 on drinks, and $952 in total once decor, other extras and travel were added.
- Assign each guest who offers to bring something a specific dish, so you aren’t paying for everything or ending up with duplicates.
- Gasoline prices rose 27.4% over the 12 months ending in August, according to the Bureau of Labor Statistics, so price out travel early and skip the trip if the cost would derail your budget.
On paper, Thanksgiving might seem like a relatively affordable holiday. No gifts, no costumes and no elaborate decorations. Just a turkey, some sides and the people you love around the table.
Unfortunately, the receipts this year may tell a different story for one big reason: Groceries are becoming a luxury purchase that has the power to break the bank. Food at home prices rose 2.2% over the 12 months ending in August, according to the consumer price index from the Bureau of Labor Statistics.
More households are now actually financing the basics. According to a July poll of 1,164 likely voters from Data for Progress, 46% of buy now, pay later (BNPL) users have used the loans to buy groceries. Keep in mind that this is for everyday groceries, not special occasion products that might be on shopping lists for Thanksgiving.
This Risk of Putting Groceries on a Credit Card
Financing groceries carries risk of its own. A recent Federal Reserve survey found that one in five Buy Now, Pay Later users said they used BNPL for groceries and food delivery over the previous year. Those shoppers were also more likely than others to struggle with repayment. They also were more likely to get hit with extra fees.
That’s what makes keeping spending on track so important. Thanksgiving is in many ways the holiday that is the most forgiving for the budget-aware. You aren’t on the hook for gifts. That’s huge. However, Thanksgiving is also the warm-up act for one of the biggest budget threats of the year: Black Friday.
Holiday debt has a nasty habit of hanging around much longer than the celebrations. A few days of spending in late November can show up in statements well into the new year, often wrapped up with an ugly dose of interest attached. The money you don’t spend this Thanksgiving by being extra intentional is money you can use to pay off other holiday spending regrets in January.
Say ‘Yes’ When Guests Ask to ‘What Can I Bring’
When someone offers to bring something, our auto-reply is often something along the lines of “just your smile!” Wrong answer. Odds are they will bring something and it won’t be saving you any money. It will either be something you don’t want, or something you already have plenty of, like a dessert. While you may feel pressure if you are the host to provide most of the food, there is nothing wrong with having others contribute. The key is communication ahead of time. If someone asks what they can bring: Assign something. What you don’t want to happen is to pay the cost of everything, and then have people bring things you already have.
So be ready when they ask, and ideally make a wish list ahead of time. If you know your guests’ strengths and talents, you can be strategic. For the one that has a lot of style and creativity, ask them to bring a centerpiece or flower arrangement for the table. For the baker, dessert is perfect. Ask them exactly what they will bring so the other desserts are not the same. If someone has a garden, ask them to make a salad using some ingredients from their garden. Got a friend who loves wine? There’s an easy assignment. Each one takes something off your plate in terms of both time and money.
On the flip side, if you are going somewhere, proactively ask if you can bring something — and make the suggestion right in the moment. If you know you are already baking for another event, offer to bring that same thing. Your shopping list will be much more efficient and cost-saving if you can buy the ingredients in bulk and use them for multiple occasions. In both cases, the secret sauce is staying in control of what is being brought, so you can stay in control of your own budget.
Why Thanksgiving Costs More Than You Think — It’s Not Just the Food
Here’s the under-the-radar part of Thanksgiving that often gets overlooked. While there aren’t gifts for most gatherings, the costs do go beyond the food at the meal. There are very real costs not directly related to food that sneak up on holiday budgets.
- Travel
- Hostess Gifts
- Alcohol and Beverage costs
- Decorations
- Outfit
- Black Friday spending and more…
There can be travel, hostess gifts and, of course, the shopping weekend that follows, including stores that tempt us by being open online with heavily promoted sales on the actual holiday itself.
3 Ways to Enjoy Thanksgiving Without Taking on New Debt
1. Do a budget breakdown ahead of time
Before you buy even a single thing, refer back to your big-picture budget for the entire holiday season. It is still early days and you want to stay on track. Factor in not just the gifts you will buy, but also all the other things: hostess gifts, travel expenses and any clothing you will need for the season. Be honest: Will you be opening up your laptop or phone and glancing casually at those early Black Friday deals or will you have the willpower to go cold turkey?
Be candid with your family and friends when it comes to who takes the lead and hosts the holiday. Just because you have in the past doesn’t mean you can’t generously pass the baton and offer to bring a dish instead. Let someone else manage the meal, and give yourself the grace of redirecting that money toward your debt.
2. Get control of all the extras like travel
Fuel prices have been soaring and are threatening to be the early scrooge to the holiday season this year. Gasoline was up 27.4% over the 12 months ending in August, according to the Bureau of Labor Statistics. Travel can often be the single biggest Thanksgiving expense, but it also can be where you may be able to have the most flexibility. Plan early and take the time to do the math. If you have to fly, look at the less popular travel days. If that means you won’t be able to be in the office on the Monday or Tuesday after the holiday, ask if you can work remotely those days. If not, consider taking a couple of days off. The cost savings may be worth it, and you can enjoy a little extra time with your family.
If the costs are exceptionally high and you can’t realistically afford it without derailing your entire holiday budget, don’t just grin and bear it. Make a bold decision if you have to. Family and friends who love you don’t want you to have the anxiety that will come with the financial stress of the trip. You won’t be able to really enjoy the holiday knowing you will be under financial distress because of the cost. A video call may be a tough one to swallow, but you can make it up later in the year when costs go down. It’s not fair, but it may be the better choice in this situation.
3. Share your financial situation with your family and ask for help if you need it
One way to relieve the stress is to stop keeping secrets from those who love you most. It is perfectly natural to want to just stretch our budget and even take on debt rather than let others know you can’t afford to participate as much as you would like in the holiday. We don’t want to disappoint anyone. A recent survey from Accredited Debt Relief found that 37% of surveyed adults carrying at least $10,000 in debt say they haven’t told their parents the full extent of what they owe.
The truth is that you don’t have to share exact numbers and you don’t have to ask for help. You can say something as simple as “We are focused on paying down debt this year, so we are keeping things simple.” It is honest and does not invite anyone to share an opinion. It also gives someone else permission to share that they too are watching their money whether it is to pay down debt or to save up for something they want to buy. We all have our own unique money values and priorities.
Need to talk to someone about your debt? Asking for help is easier than you might think. Consider a free consultation with a certified debt specialist – they’ll review your eligible debts give you a personalized monthly savings estimate.
Frequently Asked Questions About Thanksgiving Spending
How much will Thanksgiving dinner actually cost?
A basic menu for 10 cost about $55 in groceries last year, according to the American Farm Bureau Federation. In an October 2025 survey Talker Research ran for Chime, respondents planned to spend an average of $175 on food and $110 on drinks, and $952 in total once decor, other extras and travel were added. With the average host feeding eight people, food alone works out to about $21.88 per plate, and adding drinks brings it to about $36 per person.
Costs can vary a lot depending on where you live, where you shop and what you serve. But prices are very much on the rise. Consumer price index data from the Bureau of Labor Statistics showed these Thanksgiving-table categories changing over the 12 months ending in August:
- Other uncooked poultry, including turkey: up 11.5%
- Coffee: up 6.1%
- Ham: up 4.2%
- Milk: up 4.1%
- Canned fruits and vegetables: up 4.0%
- Bread: up 3.8%
- Potatoes: up 3.6%
- Fruits and vegetables: up 3.2%
- Cereals and bakery products: up 2.6%
- Cheese and related products: down 3.8%
- Eggs: down 23.0%
Meat prices vary widely depending on which one you choose, and the category that includes turkey rose the most on this list.
Should you put Thanksgiving travel on a credit card?
Only if you can pay the balance in full. This could be a way to at least get something back for your spending, but with one very serious caveat: You must pay the balance in full. It can make sense to put travel on cards that reward the practice, but those perks can be very costly if they are paired with interest when the balance is not paid off on time. If you are already carrying a balance, that interest is going to hit immediately, so it is absolutely not worth it to charge travel on that credit card.
How do you avoid overspending on Black Friday, especially the early sales?
Make a specific list of what you intend to buy and share it with someone who will hold you accountable. If you are not absolutely sure, consider waiting 24 hours before buying anything that is not on that list. Odds are a good deal will be stretched out longer than you think. If you are worried about getting sucked into all the excitement, own that and do yourself a favor by removing the apps from your phone and unsubscribing from all the marketing emails and texts. Remove all your credit card info that is already in your phone so you have to manually input it each time you make a purchase.
Still feeling tempted? Consider handing your phone off to a trusted friend or loved one who can hand it to you for important calls but otherwise keep you focused and present on the celebratory meal and all the people you get to spend high-quality time with this Thanksgiving.
The information on this site is provided as a general resource and does not constitute legal, tax, or financial advice. While we strive to ensure accuracy, this content, including any third-party sources referenced, should not be the basis for any financial decision. For guidance specific to your situation, we recommend consulting a qualified professional. Individual results may vary.