Thanksgiving budgeting tips for New Jersey residents

It can be very easy to get overwhelmed during the holidays. And with Thanksgiving right around the corner, it is only the beginning of what could be a stressful holiday season for many people across New Jersey. This can be especially true for people who are already trying to deal with unmanageable debt and looking for ways to limit their spending.

Rather than spending time being thankful this week, many people will spend this week worrying about finances. But there are a few ways that New Jersey residents can have a budget-friendly Thanksgiving holiday without adding to existing or eventual financial concerns. Hopefully staying conscious of these opportunities to save some money will help families avoid the anxiety that can come with this holiday.

  • Food: Thanksgiving is holiday largely celebrated with food. Elaborate spreads with enough food to ensure leftovers for days are not uncommon. However, rather than focus on making or buying as much food as possible, cut back on some extraneous items and don’t worry so much about sending every partygoer home with leftovers.
  • Drink: Celebrating, dining out and spending extended periods of time with friends and family can sometimes result in drinking more than a person normally would, and paying for drinks can quickly add up. Whether a person is dining out or hosting a party, keep liquor costs down by opting for less expensive brands or foregoing that last drink. Because alcohol is reportedly the second biggest expense during the holidays, it can be a good area to save some money.
  • Travel: There are many ways to save money on travel. Exploring the costs associated with driving versus flying somewhere can be very helpful. And hotels often have specials during this time of year, so finding a hotel may be easier than staying with friends or family. Researching these options is a good way to make economically sound and budget-friendly travel decisions.

These are just a few simple ways that New Jersey residents can save some money this Thanksgiving. They may not ease all of a person’s financial anxieties, but they may help by not adding to the problem. And hopefully that can provide some relief and help a person focus on being thankful and celebrating the holidays.

Source: Daily Finance, “Have a Happier Thanksgiving by Dodging These Spending Pitfalls,” Molly McCluskey, Nov. 23, 2013

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