How to host Thanksgiving on a budget

Hosting Thanksgiving can mean seeing loved ones you've missed, eating all your favorite desserts and even making new friends, depending on who your guests bring. But hosting can also mean a massive grocery bill, and that is especially true right now.

Grocery prices have soared in recent years, putting strain on many Americans' budgets and making it hard for many to keep up with essentials like housing and utilities payments. When the holidays hit, consumers tend to spend even more than usual on everything from food to gifts to travel, and hosting can bump your spending up further. In fact, half of Americans say high prices at the grocery store make holiday hosting more stressful, and 78% say higher prices will affect their holiday spending, according to a recent survey from Omnisend.

Just because hosting Thanksgiving can be a handful doesn't mean it has to break the bank.

"People think that Thanksgiving has to be an expensive meal, but it really, really doesn't," says Joan Salge Blake, a dietician, nutrition professor at Boston University and host of "Spot On!," a nutrition and health podcast. "Especially if you approach it with some forward-thinking strategies."

1. How early should you shop for Thanksgiving sales?

Start shopping for Thanksgiving as soon as you see the items you know you'll need go on sale, even if that's several weeks before the holiday. Buy them and freeze them, if necessary, Blake says. For example, if your favorite pie crust and apples come on sale several weeks before you're hosting, make your pie and freeze it.

Stores will often put turkeys on sale ahead of Thanksgiving to get customers in the door, Blake says. If you buy your turkey ahead of time on sale, she recommends allowing it to thaw in the refrigerator for 24 hours per four to five pounds. So if you're serving a 15-pound turkey, allow at least three days for defrosting.

"It takes a little bit of planning, but you could save a boatload of money getting a turkey that's on sale," Blake says.

The earlier you plan, the more you may be able to save, too. If you're concerned with the cost of hosting, consider setting money aside leading up to the shopping trip. With some savings accounts, you can even save specifically toward certain goals, like holiday spending. With Current's Savings Pods, you can create pods for different goals, and seamlessly move money from your pods to your available spending balance at any time and earn up to a 4.00% annual bonus on your funds.

2. Where can you find a free or cheap turkey for Thanksgiving?

Grocery stores and warehouse clubs often offer a free turkey to shoppers who spend a set amount in the weeks before Thanksgiving, so look out for those deals at your local stores, says consumer finance expert Andrea Woroch. Since you're already buying groceries for the holiday, hitting the spending threshold may take less effort than you'd expect.

Retailers have historically run promotions like these. BJ's Wholesale Club members have been able to get a free Butterball turkey with a $150 purchase during a select promotional window. WinCo has offered a free frozen Honeysuckle White or Jennie-O Grade A turkey to shoppers who spent $125 during a select period leading up to Thanksgiving. Check your local stores to see whether these or similar deals are running this year.

"This may require that you spend a certain amount on food purchases before Thanksgiving, but it can be a great way to offset some of the meal cost," Woroch says.

3. Are pre-cut and pre-made Thanksgiving items worth the cost?

Pre-cut and pre-made Thanksgiving items usually cost more than the ingredients they're made from, so skipping them is one of the simplest ways to trim your grocery bill. Plan your Thanksgiving menu ahead of time so you can jump on deals and don't have to rely on ready-made items at the last minute.

For instance, Blake says if you want to serve a crudités platter with raw vegetables and dip, go for regular carrots that you can cut up as opposed to baby carrots, which will likely be more expensive. She also says there's no issue buying canned and frozen vegetables for recipes, since they're typically cheaper than the fresh options.

"Nutritionally, they're all the same," she adds.

4. How do you compare prices and save with store brands?

Once you have your meal plan and shopping list, compare local grocery store advertisements to see who has the best deals on the ingredients you need, and plan your shopping trip accordingly, Woroch says. She also recommends downloading the store app and checking for any additional digital coupons before you go, so you're organized and don't miss out on extra savings while shopping.

Purchasing store brand items instead of name brand ones can help you save as well.

"Store brands have come a long way over the last decade, featuring high-quality ingredients and healthy options at significant savings of 20% to 30% compared to name brand alternatives," Woroch says.

5. Does serving Thanksgiving dinner earlier save money?

Yes. Moving the big meal from around 4:00 p.m. to around 1:00 p.m. is one of the best things you can do to save money, Blake says. An earlier mealtime means you don't have to serve as many hors d'oeuvres, wine and appetizers before dinner, and those extras can get expensive.

If people are hungry later, you can always have leftovers, she adds.

6. How can cooking less lower your Thanksgiving grocery bill?

Cooking less is a quick way to reduce your grocery spend for Thanksgiving, because you only buy what your guests will actually eat. Woroch says to think about who's attending and how much leftover food you've had in previous years. Perhaps you can reduce portion sizes, skip less popular side dishes and request that guests bring a favorite dish or drinks, she adds.

Guests will likely ask what they can bring anyway, so a little strategy can make the day much easier (and cheaper) for you. Create a list of what you want on the table so that when someone asks what they can bring, you can give them a specific assignment, like mashed potatoes.

"This way, the price is kind of spread out to everybody who's eating," Blake says.

What are the quickest ways to host Thanksgiving on a budget?

Hosting Thanksgiving on a budget comes down to planning early and buying intentionally. Here is a recap of the six strategies above:

• Shop sales early. Buy Thanksgiving ingredients when they go on sale, even weeks ahead, and freeze what you can. Set money aside for the holiday as you go.
• Score a free or cheap turkey. Watch for grocery store and warehouse club promotions that give you a free turkey when you hit a spending threshold.
• Skip pre-cut and pre-made items. Whole vegetables, plus canned and frozen options, cost less and are nutritionally the same.
• Compare prices and choose store brands. Check store ads and digital coupons before you shop, and reach for store brands to save compared to name brands.
• Serve the meal earlier. A 1:00 p.m. dinner means fewer appetizers and drinks to buy than a 4:00 p.m. one.
• Cook less and share the load. Right-size portions, drop unpopular sides, and give guests specific dishes to bring.