NEW YORK - This year's Thanksgiving dinner will cost a lot more than last year with prices soaring at the grocery store. Personal finance expert Bobbi Rebell joined Good Day New York with some tips on how you can save:
Shop Your Pantry First
- Before you start shopping, do a scan of what you already have on hand.
- Check your freezer and pantry for things that might be hiding that you can repurpose and use, such as breadcrumbs, chicken broth, spices, seasonings and frozen vegetables.
- Some recipes you can even make easy swaps. If your dessert calls for pecans and you have walnuts, use those instead.
Set Your Menu Based on Deals
- Be open-minded: Embrace saving money and go for the deals when you set your menu.
- Aldi, Lidl and Walmart have all rolled back their prices on staples for Thanksgiving. Aldi is matching Nov. 2019 prices, Walmart is rolling back to last year’s prices and Lidl is offering a basket that can feed up to 10 people for under $30.
- Some grocery stores even offer free turkey’s if you spend a certain amount of money.
- Get creative with your menu based on what’s on sale.
- Ask guests if they will eat turkey or other "pricey" foods. For example, lots of people are vegan and you may not need a big turkey. You can load up on veggies instead.
Commit to Cash/Debit
- Swiping a credit card may seem like a good option so you can deal with the bill later, but debt is getting more and more expensive, so it’s a terrible time to add to your debt. Commit to using a debit card or cash – assess your budget beforehand and stick to it.
- If you already have credit card debt, use resources such as Tally, where you can get a lower interest line of credit and then pay off your debt the most efficient way possible. This also frees up cash since you’re not paying such high interest that you can apply to your Thanksgiving meal.
Delegate Dishes or Consider a Potluck dinner
- Take the pressure off of yourself to pay for everything on your own and go potluck this year.
- Ask your family and friends to bring their favorite side dish or dessertm but be specific so they don’t all bring the same thing. This makes everyone feel included and proud of what they bring and can be a conversation starter.
- For non-cooks, assign things such as "a centerpiece" or wine. This frees you up to not spend your whole day cooking so you can enjoy making memories with your family and friends.