With charts from the American Farmers Bureau

When it comes to knowing how much the cost of Thanksgiving dinner is going to increase this year, lets’ go straight to the experts, our friends at the American Farm Bureau Federation.

These are the folks responsible for growing and raising much of what we eat, and for 37 years they’ve been putting out a survey sharing the cost of a Thanksgiving dinner.

To any farmers reading this post,

thank you, for your hard work!

Because of you, we can raise a fork and enjoy time with family and friends this Thanksgiving.

This years Farm Bureau survey provides insight, information and charts helping us better understand and plan for our Thanksgiving feast. According to the Farm Bureau Survey linked above, the cost of a Thanksgiving dinner is up 20% from 2021.

But, what does that 20% increase in “cost,” translate to in terms of actual dollars spent? See below:

On a per person basis, that $64.05 rounds to $6.41 per guest.

The Farm Bureau survey also breaks down the per item cost of our favorite menu items. No surprise, the big cost is the Turkey. At $28.96 it’s the largest expense listed below.

Have you seen headlines this year talking about inflation?

Inflation is the increase in price of the things we buy and sell. The price of a Thanksgiving turkey, has risen 21% since this time last year. That’s an example of inflation. Over time, prices tend to go up.

Understanding inflation, and that you are likely to experience it, will help you plan and prepare for your financial future.

As we approach the Holiday Season, lest we not lose sight that the best part of any Holiday is spending time with family and friends. At Troutwood we define wealth, as having enough money to spend time with people you love, in places you enjoy.

Wishing you a happy and healthy Thanksgiving holiday.

Own your financial future