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Your money goes far on Thanksgiving

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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D. Abraham Ringer is a CERTIFIED FINANCIAL PLANNER practitioner and a Financial Adviser with Morgan Stanley Global Wealth Management in Boston. He is registered in MA, NH, NY and several other states to which his articles are directed. For more information please visit www.morganstanleyfa.com/ringer
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