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Your money goes far on Thanksgiving

Print Posted by Jill Boynton November 16, 2010 10:15 AM

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The American Farm Bureau Federation announced yesterday the results of their price survey of the cost of a traditional Thanksgiving dinner. This year the total came to $43.47, a $0.56 increase (1.3%) over last year but still less than the cost of the dinner in 2008.

The survey estimates the cost of a Thanksgiving dinner for 10 people and includes turkey, stuffing, sweet potatoes, rolls with butter, peas, cranberries, a relish tray of carrots and celery, pumpkin pie with whipped cream, and beverages of coffee and milk. The price of turkey per pound went down about 5% this year, while many of the other items increased.

At $4.35 per person that could make Thanksgiving the most inexpensive holiday we celebrate. Can you think of any other holiday that costs under $5 to celebrate? Certainly not Christmas or Valentine’s Day!

On a more serious note, if $5 can buy a full Thanksgiving dinner, think of the joy you can bring a family by donating $20, or an equivalent amount of food, to your local food pantry.

For more about the AFBF survey, click here.

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Andrew Chan is the founder of Integrative Financial Advisors in Framingham. He provides comprehensive financial planning advice and investment management services. He has been an adviser for over 12 years and works with clients to integrate all aspects of their finances including investments, retirement, education funding, and tax planning.

Cheryl Costa is a principal at Forteris Wealth Management which is an independent, fee-only firm with offices in Framingham and Purchase, NY. She advises clients on investing, education funding, taxes and retirement planning. She has a BS from Worcester Polytechnic Institute and an MBA from Boston University and she is a Certified Financial Planner.

Jamie Downey has been an accountant for more than 14 years. He's a partner at Downey & Co. in Braintree. Prior to joining the firm, he served as a manager in the audit department of accounting firm KPMG.