Cash Flow Saving Tips on Thanksgiving

One of the best times of the year is when the whole family gets to gather around the table and feast on some traditional fall treats and a big bird. What is not so great about Thanksgiving, however, is the market price of turkey this year has actually increased by 20 percent, according to the USDA. Last year, the price per pound of turkey was around $1.36. This year, expect to see the price per pound around $1.60. On top of all the other ingredients you need to buy, this percent increase can truly add up.

Since we can’t change the price of turkey, we’re going to give you some great cash flow saving tips on Thanksgiving.

  1. Get a Head Count
    Make sure you know exactly how many people will be joining you for your Thanksgiving dinner. This will help you to buy an accurate amount of food, especially help you to get the right size bird. When it’s costing you $1.60 per pound, you don’t want to overestimate too high and get a bird that’s ready to feed double your guests!
  2. Buy in Bulk
    Depending on how big your head count is, it may be thriftier for you to buy in bulk. There are tons of different stores that offer bulk options on everything from butter to potatoes and even gravy! By buying in bulk, you can save tons of money and get even more to feed the large crew that will be over for Thanksgiving dinner.
  3. Make a Plan
    It is never safe, even during your weekly grocery trips, to go in blind and simply start buying whatever sounds good on the shelves. Make sure you know every recipe you will be making before you go to the grocery store, and make a list to follow. It’s important to also include quantities so you don’t get home and realize you have bought way more than you need.
  4. Don’t Be Afraid to Shop Around
    Just because you buy the turkey at one grocery store, doesn’t mean you must buy everything at that store. Check the flyers from local stores and compare prices, then plan your grocery trips to each store based on who had the best prices for the items you need. It may be more time consuming, but it doesn’t hurt to visit three or four grocery stores to find the best Thanksgiving deals.
  5. Buy Generic Instead of Name Brand
    It may not have the same attractive label, or you may have never heard of that company before, but it doesn’t hurt to buy generic. Most generic food products are made and packaged in the same place as the name brands, they are simply cheaper due to their less attractive labels. Especially if your favorite grocery store has their own brand, buying generic is a great way to save money this Thanksgiving.

Saving money anywhere you can, including on Thanksgiving dinner, is an easy way to ensure you always have cash flow. With the steep increase in price on turkeys this year, it’s important to get the best deal on all the rest of your ingredients. After all, what would Thanksgiving be without a turkey at the center of the table?

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