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.

Research shows that prices can vary for all types of products; therefore it makes good sense to comparison shop before buying. Comparison shopping is especially beneficial when buying expensive items, items you purchase often, or items where the product quality or prices vary greatly. Through the use of advertisements, catalogs, telephone inquiries, or the Internet, comparison shopping is easy and can save you money.

For household goods and groceries, compare the unit price (such as the cost per ounce, pound or other unit of measurement that stores are required to post for every product). That’s the best way to compare cost, but there’s more to the equation than price. For example, by reading the labels of two cartoons of orange juice, you might find that the more expensive brand has 120% of the daily requirement of vitamin C, while the cheaper brand has no added vitamins. If nutrition is a consideration, the more expensive brand may be a better buy.

Buying large sizes can often save money. Usually, the unit price is less for larger containers, but not always. And before you buy in bulk, be sure you will actually use a bulk of the item. It can be a good idea to stock up on items you need when they are on sale. Again, just be sure you can use up what you buy before the expiration date arrives.

Look for generic brands or store brands of items where it really doesn’t make a difference. For example, some products have the same taste and texture, regardless of whether it’s a name brand or the store brand. The difference in price, however, can amount to as much as a 50 percent. Paper products, dairy products, and canned goods are also good examples of products that are practically identical, whether you buy generic or name brands.

If you use coupons, it is important to only use them for items you would ordinarily buy. Also, make sure you compare the price of a product including the discount with the coupon to the brand you normally buy or a generic brand. You might be surprised to find out that the name brand product is still more expensive, even with the coupon.

Do not assume that all supermarkets have the same prices. If you have a few chains in your area and you do not know which ones are least expensive, check them all out. Make a list of the ten or so products you buy most often, and do some comparison shopping. Often you will find a huge difference between chains, and, if you can save just five percent, it adds up to hundreds of dollars over the long run.

And try to limit or eliminate shopping at the corner convenience store for items that could be purchased less expensively on your weekly supermarket trips. Along those same lines, don’t assume that the grocery store is the best place to buy non-grocery items such as batteries and laundry detergent.

Comparison shopping is not just limited to products that you purchase. Research and compare companies that provide services, such as utilities, telephone, cable, and Internet. And don’t forget to research and compare companies, coverage, and costs for all forms of insurance.

This information came from one of MMI’s Journey to Financial Security series of programs. For more information about the series, visit CreditEducation.org.  

For more about comparison shopping, also read Be a smart Internet shopper and Jumping on the coupon bandwagon.

Anyone who knows me knows I love to shop. There’s nothing like putting together a great outfit. I feel like I’ve created a masterpiece. I once told someone that “shoes aren’t just something you put on your feet; they are a work of art—like something to be admired in a museum.”

As much as I love to shop it’s important not to spend all my hard-earned money on fashion. There are many ways to dress well without spending a lot of money. According to the Consumer Expenditure Survey, the average household of 2.5 people spends $1,604 per year on clothes. Below are tips to help you save less on clothes and accessories.

Shop before you need something. Shopping on impulse or at the last minute can leave you with an overpriced item you don’t like. It’s best to plan ahead and give yourself time to research the best price and buy something you’ll love.

Look for end-of-season deals. The best time to buy a winter coat is after the winter season winds down and the spring shipment begins to come in. If you buy items during off-season you can save a bundle. The trick is to buy items you will wear and avoid buying something just because it is on sale.

Find bargains at resale shops. Resale stores carry stylish, gently worn pieces. You can resale your old clothes and earn a few bucks or just exchange what you own for something in the store of equal value. There is usually a fashion buyer on-site to personally inspect the clothes for wear-ability and style.

Checkout great deals online. Online shopping sites such as Ebay and Amazon are great places to buy clothes. To have a successful experience always purchase an item from a seller who has a solid reputation and lots of positive comments; check all measurements to make sure the item will fit you properly; and verify the price is reasonable by researching what it sells for now.

Mix and match pieces. Buy items that you can mix and match with a variety of pieces. Make sure you can wear the item for a variety of occasions. This will cut down on shopping trips and cost less money. *A good rule of thumb to buying shoes is to make sure you can wear them with at least five different outfits.

Invest in the basics. This is an old style rule. Everyone should have a nice, crisp white shirt; a good pair of black, tailored pants; a nice pair of blue jeans; and dress shoes. To cut down on shoe buying get one pair of silver, gold, black, flesh-tone, red, and your favorite color shoes. These are stable colors. You’ll be able to wear them with anything. Don’t buy shoes that are too trendy and I recommend investing in a really good pair since you won’t have to buy new ones for awhile (depending on how often you wear them).

Look for special promotions. Sign up with your favorite stores to receive coupons and special promotions through the mail or email. Many stores send out coupons to customers who have signed up. This will also inform you of special sales and clearance events.

Yes, fashion is an art. Managing money is a skill. Study styles in magazines and shop for similar, discounted items. Magazines such as Instyle offer a Fashion for Less section where the editors find inexpensive versions of some the season’s hottest pieces.