Your Thanksgiving turkey could cost a lot more this year

Shoppers should expect to pay more for holiday turkeys this year.

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Key points

• Now is the time to start thinking about your Thanksgiving meal plans.
• If you plan to serve a turkey, you should expect to pay more than last year.

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Now that Halloween is over, it’s time to think about the upcoming holiday season. If you don’t have a plan for your holiday party yet, you might want to start thinking. The cost of food continued to rise throughout the year, which had a significant impact on all of our grocery budgets.

When thinking about how you’re going to celebrate the holidays, remember to prepare for higher food costs. You should expect to pay more for your holiday meal essentials, including a Thanksgiving turkey. Being aware of this before heading to the store can eliminate some disappointments.

Planning ahead for rising costs will ensure you get everything you need and give you more time to find the best budget places to do your essential vacation shopping.

Turkey prices are up 27.8% from last year

While most of us are used to higher prices at the grocery store, shoppers may be shocked when they head to their local grocery store to pick up a turkey for Thanksgiving dinner.

According to the USDA, this week’s average price per pound for a frozen turkey is $1.47. Last year, the average price per pound of a frozen whole bird was $1.15.

This is an increase of 27.8%, which is likely to be noticeable for buyers on a tight budget.

In addition to higher prices, there may not be enough turkeys to meet consumer demand. If you plan to cook a turkey this year, consider buying one sooner rather than waiting.

If you’re already starting your Thanksgiving dinner shopping, pay attention to the sales flyers provided by your local grocery stores. You might be able to get a better deal on a turkey and other ingredients needed for your holiday meal.

If you have multiple stores nearby, it might be a good idea to shop at multiple stores to save money – as long as you won’t be wasting gas driving to and from each store.

Another way to keep more money in your bank account is to use coupons. Many grocery stores offer clip-on virtual coupons through their free mobile apps.

Be creative to spend less

With the holidays fast approaching, you may feel stressed about rising food costs.

Many Americans feel the same way and have continually adjusted their grocery budgets and shopping habits.

While you may be tempted to stick with tradition, remember that there’s no right or wrong way to celebrate the upcoming holidays. If you’re ready to create new traditions or want to do things differently this year, you can get creative to lower your holiday meal bill.

Serving a different entrée and side dishes could result in a lower grocery bill. Plus, it will make a Thanksgiving dinner more memorable.

Another option is to organize a potluck dinner. Asking each guest to bring something to bring will help everyone, including you, keep their holiday food expenses to a minimum. Plus, no one will be stuck cooking all day.

Are you looking for ways to improve your financial situation? Check out these personal finance resources for additional tips.