Americans Will Spend Over $300 Hosting Thanksgiving This Year, According to a New Study
One in three Americans will spend approximately $310 hosting the feast for family and friends.
If you're hosting Thanksgiving this year, you've likely already begun the preparations. From choosing which dishes you're going to cook to making sure there is a place setting for every guest, a lot of work goes into making the feast happen. And you'll shell out more than just effort in order to bring this holiday to life. There's also a high cost associated with hosting Thanksgiving; a new survey conducted by LendingTree revealed that Americans will spend approximately $310 on food, drinks, and décor for a 10-person Thanksgiving dinner. They're expected to spend $227.42 on food and drink and $82.75 on houseware items, such as dishes, furniture, linens, and festive décor.
LendingTree surveyed more than 1,000 Americans and found that about 25% will spend whatever it takes to host the feast without a hitch; 30% set a strict budget to cover the costs. Given the high cost associated with Thanksgiving, three in ten noted that they found hosting to be financially straining.
In order to save money, LendingTree recommends that hosts set a budget and stick to it; shop early and keep an eye out for coupons; and try crafting DIY decorations, which can be more affordable than store-bought arrangements and décor.
The pressure to clean, decorate, and cook an entire meal for a large party is high. Of the survey's participants, 54% said they found hosting to be stressful. Still, most agree it's worth it. Despite how much money and effort it takes to host a beautiful and delicious Thanksgiving, nearly 75% of those surveyed said they love hosting. And if you're not hosting Thanksgiving this year, be sure to show the person who is just how grateful you are by offering to cook a side dish, do a round of dishes, or by bringing a small gift.