5 ways to keep tradition this Thanksgiving without breaking the bank

If you give thanks for all the tradition surrounding the Thanksgiving harvest festival, you’ll appreciate this list on how to pay homage to the Thanksgiving tradition without paying much out of pocket.

1. Watch the Thanksgiving Day parade. Since 1924, Macy’s has been entertaining crowds with the sounds of marching bands and sights of whimsical floats parading down Broadway. Luckily, you don’t have to spend the money to travel all the way to New York to experience this Thanksgiving tradition. The parade was aired nationally for the first time in 1947 and is a visual treat viewers still enjoy from the comfort of their couches today.

2. Feast. The Thanksgiving holiday is known for its food. Turkey and stuffing, cranberry sauce, and honey baked ham are enough to set any Thanksgiving traditionalist’s mouth watering. Shop smart this turkey day by going to the store with your coupons and shopping list in hand.

3. Break the wishbone. Everyone in your family gets to enjoy turkey on Thanksgiving Day but only two lucky members get a chance to break the wishbone. The tradition goes like this: two people (usually kids) each grab a side of the ‘Y’ shaped turkey bone and pull. Whoever gets the “lucky break,” the side of the wishbone that is longer, gets to make a wish. Sometimes the simple, inexpensive pleasures bring the most joy!

4. Shop smart on Black Friday. If you must partake in the shopping tradition on Black Friday, take care to keep your finances in the black! Stores are known for offering big discounts on the Friday following Thanksgiving so take advantage of them. Clip coupons, shop sales, and check out the abundant online resources dedicated to bringing you deals on Black Friday.

5. Be thankful. Giving thanks for what you have is perhaps the most time-honored tradition of the holiday season. As your family and friends gather around the table this year, ask each one to offer up one thing which they are truly thankful for. Another low-cost way to keep this tradition alive is by crafting a Thanksgiving tree centerpiece. Each guest writes what he or she is thankful for on leaves cut from paper to hang on a decorative tree in the center of the table.

5 Ways to Break Tradition this Thanksgiving without Breaking the Bank

Would you rather be breaking tradition instead of wishbones? If you are not a keen observer of the turkey tradition and would rather be spending your Thanksgiving trying something new, here’s a list of five ideas to help you plan a thrifty Thanksgiving celebration to suite your alternative taste.

1. Try a progressive dinner. All guests will meet at one home for appetizers then progress to a new home for salad. Dinner is served at yet another location and, afterwards, the whole party will move on to another spot for dessert. The point of the progressive dinner is that each course is hosted at a different home.

The key to a successful progressive dinner is to coordinate with all who will be attending the event. Set up times when you will arrive at and leave each home so your hosts will have a heads up about when they will be serving their spread. Progressive dinners are inexpensive since responsibility of paying for food is split up between multiple homes.

2. Give back. Traditionally, families gather around to give thanks on Thanksgiving. This year, do more than give thanks for all you have, give others something to be thankful for. Visit VolunteerMatch.org, a database for nonprofits looking for volunteers, to search for opportunities to give back this holiday season.

3. Dine out. Another alternative dinner idea to the at-home meal is to have your Thanksgiving dinner at a restaurant. If you have a big family, split the bill so financial responsibility is not being shouldered by just one person.

4. Get out and play. Forgo the Thanksgiving Day spent vegging out in front of the TV watching football followed by a turkey-induced nap. This Thanksgiving, get out of the house to enjoy the crisp autumn air. Visit a local park and engage your family in your own football game. After all, the average person consumes a 3,000 calorie Thanksgiving feast—time to start burning those calories!

5. Try a vegetarian Thanksgiving spread. The turkey is usually the most expensive part of the meal. Spend less by serving up some cost-friendly starches.

For more ideas, download our free Thrifty Thanksgiving eBook.

The Nissan GT-R has been a hot car this year, winning prestigious industry awards such as Motor Trend’s “Car of the Year.” If you’re looking to save on insurance costs, don’t expect to be cruising around in this sports car anytime soon because Nissan’s GT-R takes first place in another arena: insurance costs. The GT-R is ranked 2009’s most expensive vehicle to insure, totaling in at an average premium of $2,533 according to Insure.com. Your best bargain insurance-wise would be the Hyundai Santa Fe, which has the lowest insurance premium averaging at just $830.

While auto insurance can be pricey, many financial emergencies are caused by major life events such as car accidents or medical conditions, so maintaining adequate insurance is one good way to stay protected from financial ruin. With all the different types of auto insurance available, understanding what you are getting for your money is important.

-Liability is the most important type of insurance and is required by state law. It covers costs associated with property damages or bodily injury caused by you or a member of your family in an accident.

-Collision insurance will pay for the repairs if your car is damaged in an accident.

-Comprehensive insurance pays for damage to your car from factors other than collisions, such as damage from fire or vandalism.

-Uninsured motorist coverage protects you if you are ever in an accident caused by an uninsured driver. It may also protect you against a hit-and-run.

-Personal Injury Protection (PIP) pays medical expenses and lost wages for you and your passengers if you are injured in an accident. If PIP is not required in your state, and you have good health and disability insurance, you can skip purchasing this type of protection or just get the minimum coverage.

-Medical payments (MedPay) will guarantee immediate medical payments regardless of who is at fault. It also covers you and members of your household in any accident involving an automobile, even if you are walking or riding a bicycle.

-No-fault insurance is required in many states. With no-fault, your insurance company would cover your expenses in an accident regardless of who was at fault. Other drivers would be covered by their own policies. This type of insurance eliminates the need for accident victims to establish another’s liability in a lawsuit.

When taking out an insurance policy, finding coverage that meets your needs and the requirements of your state is a top priority. Remember that your insurance must also be affordable.

-Ask your insurance company about discounts. You may be eligible for discounts for being a safe driver, good student, or college graduate.

-Remember, your credit matters. Car insurance companies take your credit rating into account when creating a policy for you. Insurance companies view credit reports as predictors of risk: if you’re responsible with your finances, you’ll be responsible with your car.

-Shop around. Web sites like Insurance.com and Esurance.com let you comparison shop major auto insurance providers to find the best policy for you.

For a child born in 2008, middle-income families can expect to spend $221,190 to raise that child from birth through age 17 according to a report released by the U.S. Department of Agriculture called Expenditures on Children by Families. When adjusted for inflation, that number soars to a staggering $291,570.

While parents can’t clip a coupon to cover the expense of their child’s life from birth to their 18^th birthday, they can make an important lifestyle choice: frugal living. Living frugally means being economical about when and how you spend your money. The beauty of frugal living is that one poor purchase decision isn’t going to make or break you, but a lifestyle of making wise financial decisions can add up to great savings for you and your family.

Here are some helpful saving tips and strategies for each expense category the USDA used in calculating the $221,190 price tag of raising a child. This is a short list, but hopefully these ideas will get you thinking of the many ways you can begin living frugally to help offset the cost of raising a child.

Housing expenses include shelter, utilities, house furnishings and appliances. 

·         Consider the cost of living in your geographic location. For example, living in California is more expensive than living in North Dakota.

·         Make your home energy efficient. Things like energy saving appliances and light bulbs, solar screens, and remembering to turn off the water and lights when not in use can save you money.

Food expenses consist of grocery store purchases, restaurant dining costs, and expenditures on school meals.

·         Cook it yourself. Whether you are pureeing baby food, packing lunches for the kids, or making dinner at home, being your own chef is less costly than having someone else prepare your food for you.

Transportation expenses include payments on vehicles, fuel and auto maintenance costs, insurance, and public transportation costs.

·         Start a carpool with other parents to get kids where they need to go.

·         Invest in a hybrid vehicle to save on the price of gas.  

Clothing expenses include everything from diapers to alteration costs on that prom dress.

·         Remember that kids outgrow clothing quickly. Buy reasonably priced pieces that they can mix and match instead of expensive, trendy brands.

·         Consider enrolling your child in a school that requires uniforms.

Health care expenses include medical and dental services not covered by insurance, prescription drugs, and other services related to physical and mental health.

·         Make sure that your child is eating healthy, nutritious foods loaded with the vitamins and minerals they need to keep their bodies healthy.

·         Teach your child proper hygiene. Washing hands and brushing teeth regularly can help kids be less frequent visitors to the doctor’s office and the dentist’s chair.

Child care and education expenses consist of day care, babysitting, school tuition, and school books, supplies, and fees.

·         Buy school books from used book stores or borrow them from your local library.

·         Enlist the help of family and friends (or start a babysitting co-op) who are willing to watch your kids for free or at a cheaper rate than pricey day care.

·         Before you shop for back to school supplies at an expensive retailer, take a look around your home to find supplies you already have.

Miscellaneous expenses include personal care items and entertainment.

·         Involve your children in hobbies that don’t have high equipment costs. Swim team, for example, costs less than dance once you tally in all the costumes, shoes, and lessons.

While raising children is expensive, frugal living helps offset the costs and encourages you and your family to focus on something of much greater value: time together.