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Survey: Thanksgiving hosts will spend more than $300 this year, but most guests won’t chip in
About 3-in-10 said that hosting Thanksgiving causes them financial strain.
LOS ANGELES - One in three Americans will host Thanksgiving this year, and they’ll spend $310 on average between food and decor.
LendingTree surveyed more than 1,000 Americans about their Thanksgiving plans to learn more about who hosts Thanksgiving dinner, how much it will cost them to host, how they plan on managing the cost and how they feel about being host for the holiday.
When it comes to cost, Thanksgiving dinner hosts will spend an average of $310.17, or about $31 per guest. The LendingTree team broke that down to about $227.42 on the food and drinks, and $82.75 on housewares, such as dishes, furniture, linens and decor.
Despite these costs, 64 percent of hosts won’t receive any offers from guests to chip in.
About 30 percent of hosts said that they have a fixed budget going into the holiday meal, 45 percent said that their budget is “very flexible,” and about 25 percent said that they’re willing to pay whatever it takes to put together their ideal Thanksgiving.
About 3-in-10 hosts said that hosting places financial strain them, and 27 percent reported that they will be using a credit card or loan to cover some or all of the costs. For those who are planning on using credit or loans to finance Thanksgiving, about 20 percent said that they will incur debt by doing so.
For the majority of people who host Thanksgiving dinner, it’s an annual tradition — 56 percent said that they plan the holiday dinner every year, and only four percent reported being a first-time host.
While more than half of all hosts say that the experience can be somewhat stressful, nearly three-quarters said that they love hosting Thanksgiving.