SACRAMENTO, Calif. — Thanksgiving is coming up and many shoppers are starting to gather key items for their holiday feast.
Although inflation is lower than last year, certain things are still expected to cost more this year, but there are ways to make the most of your budget.
“Develop a plan and actually set a dollar amount limit for how much you feel comfortable with spending for your Thanksgiving celebration,” said financial coach Maureen Paley.
Thanksgiving dinner is likely one of the biggest meals shoppers will plan for this year and Paley says there’s lots of temptation to spend during the holiday season.
“Not planning and maybe leaving things to the last minute might be a trouble area because when we don't have the time to do the planning. We're left with whatever's available or the quickest option to get to fill that need for ourselves,” said Paley.
When it comes to shopping, look closely at the price tags.
“It is still sticker shock this year over last year. Prices are up about 2.4%, but that's on top of the 11.4% from the year before that,” said consumer analyst Phil Lempert.
The Bureau of Labor Statistics said eggs are down nearly 29% compared to last year while other staples still cost more.
Ham and potatoes are going to be more expensive and canned green beans are up almost 9%. As for the star of the show, turkey, it’s about $1.27 a pound, which is a 22% decrease from 2022.
“Last year, bird flu caused panic with over 60 million birds having to be culled. Now, so far, it's only hit about 180,000 birds, so it could be that turkey is going to be less expensive this year than in previous years,” said Lempert.
Some retailers are already promising to help a bit this year. Aldi said it’s slashing prices up to 50% on a list of 70 Thanksgiving items like gravy, potatoes and pumpkin pie. Walmart also announced it’s offering ready-to-bake or from-scratch Thanksgiving meal options at prices lower than last year.
Experts said now is a good time to buy things that won’t spoil if you want to maximize your dollar. People can also consider buying generic brands and keeping their eyes peeled for new sales.
Another money-saving tip Paley suggests is hosting a Thanksgiving potluck. Have everyone bring a dish instead of one host providing everything.
WATCH MORE ON ABC10: Is getting a Costco membership worth it?
