This year's Thanksgiving will cost $1000, making it the most expensive holiday ever.
The average Thanksgiving holiday will cost nearly $1000 this year, according to New York PostThe survey, conducted among 2000 American adults across generations, found that they said they would spend an average of $175 on groceries alone and an additional $110 on beverages this year.
Food isn't the only expense. On average, survey respondents plan to spend $83 on holiday home decorations and another $291 on unexpected purchases, such as appliance repairs or new clothes.
A third of respondents don't plan to spend any money on travel, but those who do plan to travel expect to spend an average of $293. This brings the total holiday spending to $952. The average host will host eight people, and one meal will cost approximately $21,88.
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A survey conducted by Talker Research for the banking app Chime took a detailed look at how Americans are adapting to the financially challenging season and how they are saving for holiday gatherings.
It turns out that Americans aren't preparing for just one holiday. The average person will attend three different gatherings: a small family dinner (58%), a traditional large family gathering (51%), and so-called "friendsgivings" (30%). Two-fifths of Generation Z will attend two family celebrations.
For this reason, 59% of respondents believe that this is no longer just Thanksgiving, but an entire season.
About two in five respondents (43%) plan their holiday budget in advance, with millennials doing so more often than others (53%). About half (49%) begin planning and saving money in advance, and 39% do so several months in advance. More than a third of respondents (35%) plan to spend an average of 41% less this year.
To cut costs, respondents are reducing the number of guests (31%) or asking guests to bring some dishes instead of cooking everything themselves (28%). Millennials intend to take a more minimalist approach (36%), while Generation Z is keeping their usual menu but choosing cheaper brands (28%) or skipping travel (24%) to save money.
According to Janelle Sullenave, director of expenses at Chime, 63% believe that family gatherings on Thanksgiving are too expensive, which undermines the very purpose of the holiday. She notes that, regardless of budget, you can reduce the cost of preparation by planning the menu in advance, setting a spending limit, and not being afraid to ask guests for help. She emphasizes that the main idea of the holiday is connection, not expense.
Attitudes toward cost sharing vary across generations. One in three baby boomers believes the household should pay for everything, while 33% of Generation Z believe expenses should be split equally.
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Almost half of participants (45%) admit that they feel pressure to create the “perfect” holiday.
As Sullenave emphasized, even small financial adjustments can make a significant difference. Whether it's splitting dinner costs or setting a pre-set budget, the goal is to celebrate the holiday without unnecessary stress.
Talker Research surveyed 2000 Americans celebrating Thanksgiving: 500 each from Generation Z, Millennials, Generation X, and Baby Boomers with internet access. The survey was conducted online from October 17 to 23, 2025.
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