It’s near the holiday season, as Thanksgiving is only weeks away. A time when family and friends gather and express their gratitude for one another. However, behind all the excitement and joy, some expenses hit.
Oftentimes, families travel from all across the country during the holiday season, so booking flights is important. However, not every home fits everyone, so getting hotel rooms is also crucial. Plus, of course, having enough food for everyone at the dinner table to eat.
What do all these things have in common? They come at a steep price.
Planning for Thanksgiving requires saving some money in families’ pockets.
To begin, covering hotels. Of course, the biggest priority is to find a place to stay with decent quality at a reasonable price.
Last year, the average hotel cost around the Thanksgiving holiday was $150.49. However, it’s looking different this time around.
According to STR, the average cost is projected to be $147, partially due to the current government shutdown. With the lack of events and conferences, there’s been no need for bookings.
Additionally, people often opt for Airbnb listings instead of hotels, a massive cultural shift.
As mentioned earlier, families fly all across the country to reunite over the holidays. According to NerdWallet, over 2.7 million people were at the airport a day before Thanksgiving.
However, when the demand gets higher, so do the prices.
According to Hopper Media, the average cost of flights last year was $273.
However, it’s projected to go up to $305.76 this year. It should come as no surprise that there’s a projected increase, given how many flights are taking off during the holidays.
The combination of travel and hotels, plus fees, could leave a massive hole in some families’ pockets.
Giovanna Parra, 26, a former elementary teacher, elaborated on her financial situation for the holidays this month and last year.
“I try to maintain a budget of $200, but end up spending $500,” she said. “Thankfully, my family is already here, so travel expenses are not a worry.”
Parra actually expects food prices to go down this year, given the situation with the government shutdown.
“Not everybody is going to be able to buy food at high prices, and it can’t just all go to waste,” she said. “I hope they go down or at least get donated.”
According to Market Intel, last year, food prices went down, averaging around $58.08 for a Thanksgiving meal. It’s projected to be a little higher this month, but given the government shutdown situation, there could be some work to help with that.
It’s important that everyone makes the most of their situation and enjoys the holidays in the best way that they can.
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