As Thanksgiving approaches, many American households are gearing up for one of the most cherished traditions of the year: gathering around the table with family and friends to share a festive meal. However, this year, the spirit of gratitude is tinged with the reality of stubbornly high inflation, which is impacting how much families are willing and able to spend on their celebrations. According to a recent report by LendingTree, the costs associated with hosting Thanksgiving dinner have surged by 19% compared to last year, placing additional strain on budgets already stretched thin.

### The Rising Costs of Thanksgiving

LendingTree’s survey reveals that the average Thanksgiving host plans to spend approximately $431 on food, drinks, and decorations for the holiday. This figure breaks down to about $265 allocated for food and beverages, while an additional $166 is earmarked for festive decor. Interestingly, hosts expect to entertain around 11 guests, maintaining the same number as in previous years. Yet, the rising costs are making many reconsider their plans.

Inflation is a significant concern for many, with 60% of respondents indicating that it has influenced their holiday preparations. The survey highlights that 27% of potential hosts are altering their food choices, 26% are increasingly relying on coupons, and 9% have decided against hosting altogether due to financial constraints. Alarmingly, 35% of respondents expressed that they might not open their homes next year if costs continue to escalate.

### The Emotional Toll of Financial Strain

The financial burden of hosting Thanksgiving is palpable, with 36% of potential hosts admitting that the expenses will create a strain on their finances. This has led to feelings of regret among some, with 14% wishing they hadn’t decided to host. The reliance on credit cards to cover Thanksgiving costs is also noteworthy, as 34% of hosts plan to use them to manage their expenses.

In light of these challenges, many hosts are looking to their guests for support. Approximately 60% of respondents expect their guests to contribute to the meal, whether through cash or by bringing a dish. This expectation underscores a shift in the traditional dynamics of holiday gatherings, where the burden of hosting is increasingly shared.

### The Importance of Contribution

Matt Schulz, LendingTree’s chief credit analyst, emphasizes the importance of guests contributing to the festivities. He notes that the social etiquette of bringing something to a gathering is more crucial than ever, especially in a climate where financial strain is prevalent. Schulz points out that guests who arrive empty-handed may be viewed unfavorably, as the collective effort to make the celebration enjoyable becomes a shared responsibility.

For those who may not have the means to contribute financially, Schulz suggests alternative ways to pitch in. Offering to help with setup, cooking, or even transportation can be valuable contributions that alleviate some of the pressure on the host. This approach fosters a sense of community and support, reinforcing the spirit of Thanksgiving.

### Strategies for Budget-Friendly Celebrations

Despite the challenges posed by rising costs, there are strategies that hosts can employ to make their Thanksgiving celebrations more budget-friendly. Schulz advises consumers to shop around for the best prices and to consider using credit cards that offer rewards or cash back. By leveraging these financial tools, hosts can offset some of their expenses and make the most of their holiday budget.

Additionally, being strategic about meal planning can lead to significant savings. Hosts can opt for seasonal ingredients, which are often more affordable, and consider potluck-style gatherings where each guest brings a dish. This not only reduces the financial burden on the host but also adds variety to the meal.

### The Changing Landscape of Thanksgiving

As Thanksgiving approaches, the landscape of holiday celebrations is evolving in response to economic pressures. While the tradition of gathering with loved ones remains steadfast, the way families approach the holiday is shifting. With inflation impacting budgets and altering expectations, hosts and guests alike are finding new ways to celebrate while navigating the realities of modern-day finances.

In this context, the essence of Thanksgiving—gratitude, togetherness, and community—remains intact. By adapting to the challenges posed by rising costs, families can continue to create cherished memories around the table, ensuring that the spirit of the holiday endures.