Is Dining Out for Thanksgiving Really Cheaper than Grocery Prices?
I always get the realization that the holidays are approaching and that I'm going to be even poorer around this time of year. Yes, it's the time of year when family gathers for a Thanksgiving feast that none of us can afford any longer. The cost of food has increased dramatically. The cost of our turkeys appears to be out of control due to inflation.
So it made me smile when I learned that dining out on Thanksgiving Day would really be less expensive. Then I remember how much my uncle drinks and what a fussy eater my child is, and I realize what a costly dinner this is going to be.
Thanksgiving Grocery Prices:
I simply can not believe that these days eating out is less expensive than cooking a meal at home. Thanksgiving at a restaurant, according to a "New York Post", might be the "Smart money move" this year. Is it possible that's true?
They based it on a Wells Fargo analysis that revealed that while grocery prices have increased by 10% since last November, restaurant prices have only increased by 6%. . . and 15% for meals specifically for Thanksgiving.
In other words, everything is more expensive, from potatoes and turkey to bread and butter. But is dining out for Thanksgiving this year truly less expensive?
The good news is that it IS cheaper to cook at home. The bad news? Even that is way more expensive now. Even when your Thanksgiving food comes along with the no-tip required feature, it is still more expensive but will always be more affordable than eating out.
Even that is acknowledged in the Wells Fargo report, which claims that it doesn't make sense unless you're out to dinner with a few friends AND you're purely trying to avoid work. Cooking at home makes more sense as the number of people increases.
In other words, if you want to spare yourself time and hassle, it might make sense. But from a financial perspective, cooking at home is still far more affordable.
The Farm Bureau has not yet made available its annual statistics on Thanksgiving meal.
However, the cost of a typical supper in 2017 was $5.33 per person. So even if it doubled, which it won't, cooking at home would still be much less expensive.
