Today, Mak & G are looking at the cost of Thanksgiving and how we can save money during this holiday…
The average host spends nearly $400 just on Thanksgiving dinner, and that’s a lot of money for one meal!
Today, Mak & G look at what people are spending money on during this holiday, how we can bring the cost of Thanksgiving down, and why you should never put Turkey bones down the garbage disposal…
“Planning ahead really helps, if you know what you need and you find a deal, buy it.” – G
“The cost to you changes if you host Thanksgiving dinner or you’re just attending.” – Mak
00:49 – The cost of hosting Thanksgiving.
01:17 – How to decrease your Thanksgiving costs.
02:20 – The increased cost of Turkey and how to bring that cost down.
03:15 – Leah Ingram’s website and the budget-saving tips she shares.
04:14 – The ways people waste money on Thanksgiving.
04:50 – What not to put in the garbage disposal.
05:20 – The power of small portion sizes.
05:48 – Why you shouldn’t use paper plates.
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MAK: Welcome back to Money with Mak and G. Don’t forget to LIKE, SUBSCRIBE and COMMENT on the podcast.
GRANT: We’re getting deep into November, and that means:
MAK: But, we have a couple of decisions to make, when it comes to money. We know travel is a big deal, and many people take to the air…
GRANT: And the roads to see family and friends. It’s the biggest time of the year. For those of us staying put, without the travel hassle, you might get the hassle of doing Thanksgiving.
MAK: I saw you do the air quotes for “hassle”, which it can be, but it can also be fun. It does take some practice to go off without a hitch. The more you do it, the better you’ll be. So, let’s help build your:
GRANT/MAK: Financial IQ
GRANT: I’m right there with you sis. Let’s get started…..“to host” or “not to host” that is the question?
MAK: Nice play on words there William. But, you’re right. The cost to you changes if you’re hosting Thanksgiving dinner or just attending. If you’re being generous, that’s great.
GRANT: But, it doesn’t have to be ALL of your responsibility either. Don’t be afraid to pass it to the brother-in-law that gave you New England Patriot socks for Christmas.
GRANT: He definitely deserves to do some of the work. Seriously, if you’re hosting, there are several things to think about.
MAK: First, make sure to do a potluck, where everyone brings a dish. You may not always be lucky about what you get from uncle Herman, but it does cut down on the cost of food. So you might have to suck it up buttercup.
GRANT: Plus, you can’t have everyone bring a pie, and honestly, you don’t WANT everyone to. Do you remember the famous Thanksgiving of the “Egg-less pie”?
MAK: Yep, Aunt Lori was taking over pie duty from “grandma O” and forgot to put in the eggs. The pies didn’t rise like normal and didn’t taste eggssss-actly right.
GRANT: Nice play on the word “eggs”. But, Grandma O was so nice and said “Don’t worry Lori, that’s sooo nice”. We all laugh about it now, but it was a bit “touch and go” the day it happened.
MAK: What a great memory with Grandma O. Make sure to give out food assignments to get it all covered. You need to be respectful, but everyone can’t bring meatballs, and sometimes those meatballs just have too many cornflakes, so choose wisely and give some direction.
GRANT: Yep, there is only so much filler a guy can eat. That Thanksgiving made me “regular” for over a week. Now if you eat the traditional menu you’ll still have to supply a turkey as host.
MAK: Ok, we got you covered on that one. The cost of meat for any dinner table is rising fast. Turkeys doubled in price in two years. But, there are some things you can do if you want to keep Turkey Tom on the table
GRANT: Cashback on grocery shopping is big. We love Costco, and getting cash back from Costco, AND the Costco credit card, helps to grow the money we earn throughout the year.
MAK: The check around here is always 100’s of dollars. Be careful to ONLY buy what you really need. If you buy more than you need, it doesn’t save you any money.
GRANT: Dad says the price of wine is great at Costco too, and that’s why he always buys several bottles each visit.
MAK: G, I think you bought that excuse hook, line, and sinker. Does he need to buy some EVERY time?
GRANT: Ohhhhh. I didn’t even think about it. Dad and I are going to have to have a talk. Let’s name some other things you can do to save a bit of cash:
GRANT: Reward programs
MAK: Delivery service deals
GRANT: Other cashback programs.
MAK: Ok, we have to do a shout-out to “Leah Ingram’s” website. She had some great suggestions. Making a budget, and using some other savings programs are great. We’ll put a link in our notes.
GRANT: She also mentioned Ibotta. That’s “I-B-O-T-T-A”. They’re giving away free Thanksgiving dinners. Dad’s favorite four letter “F-word”… FREE. If you join the program, you can get a free turkey with all the trimmings.
MAK: It’s a pretty awesome deal, and shows how you can be frugal, and save for the other holidays coming. If you keep using it, you’ll continue to get more money back. Boom.
GRANT: Plus, planning ahead REALLY helps!! If you know what you need, and you find a deal, buy it. Join a cash-back program and take advantage of it. Also plan out how much everyone needs to eat, so you don’t overspend.
MAK: It’s ½ to ¾ cup for a serving. No need to spend more. You don’t want to have anyone break out the stretchy pants because nobody wants to see dad on the floor with those on!!
GRANT: You got that right. Ok, I know this is going to sound crazy, but it’s happened in the family, I’m told. We’ve wasted money. The first was having the wrong person cook the bird.
MAK: Yep, they burnt it, and that was clearly money down the drain. Hey, speaking of money down the drain, do you remember…
GRANT: The plumbing incident of 2014? Heck yeah. Plumbers are in high demand over the holidays because we get a little lazy and don’t think. I think it’s the food coma after eating.
MAK: Yep, we put too much down the disposal. Here’s some advice:
GRANT/MAK: Don’t do it!!
MAK: That’s right. If you Google it you’ll find it happens a lot over Thanksgiving. That was $395 of money that was NOT well spent! So, never put any of these in the garbage disposal:
GRANT: Coffee Grounds
GRANT: Egg Shells
MAK: Potato Peels
GRANT: Do people really put bones in there? Yikes!! I think potato peels were our issue. HomeAdvisor says plumbers are the TOP handyman for the holidays. So be careful.
MAK: Even though we had a pie incident several years ago, you should try to make your own desserts. I know we all have a tradition, like Taylor’s bakery here. You save money.
GRANT: Nice tip. Speaking of pies, make sure to cut them into smaller pieces. Your stomachs will thank me. Then you won’t eat as much, saving money. Aunt Lori cuts and serves the first piece.
MAK: If she’d give out pieces half the size, that would mean Uncle Tony would have to go back 5 extra times if he usually has three pieces. He’d be way too embarrassed to do that.
GRANT: So true. Those 3 pieces would turn into 6 smaller pieces. Love that idea. Plus, I’d actually have a shot of getting a piece of pecan…. You know we all want to make cleanup easier.
MAK: Yep, and having paper plates is great, but it’s extra money and not as good for the environment. Time to break out the real plates. Hey, a family that cleans together, stays together, right?
GRANT: When dad’s plate is licked clean there isn’t much to do. I know it’s not a ton of money, but if you add up each tip, it makes a difference. Here’s another… Reduce the number of guests you have.
MAK: Wow, you’re going out on a limb. I’d be careful. Sometimes I think we’d probably all like to.
GRANT: Yep, and it will reduce your overall bill.
MAK: Agreed. So, you’ve got several suggestions to get your Thanksgiving spending in check, even with the rising price of food.
GRANT: Couldn’t have said it better myself Mak.
MAK: Well, thank you dear brother. And thank you for being here. We’ll see you next time for more…
GRANT/MAK: Money with Mak & G. Bye!!