“Eat, drink and be merry” is a familiar refrain come the holiday season. Hosting a holiday dinner is a great way to welcome family and friends and encourage them to embrace the festive nature of the season. However, the high cost of foods and other essentials may have certain holiday hosts rethinking their menus and their guest lists this year.
A 2024 Pew Research Poll showed Americans worried about the state of the economy cite the price of food and the cost of housing as their foremost concerns. More than 90% of Americans say they are “very” or “somewhat” concerned about the cost of food and consumer goods.
Average annual food-at-home prices were 5% higher in 2023 than in 2022, according to the USDA Economic Research Service. Inflation has been a key topic of discussion for much of the last three years. While data from the U.S. Bureau of Labor Statistics indicate inflation continues to cool off from all-time highs, consumers are still anxious about how food prices are affecting their bottom lines and their holiday entertaining plans. According to Farmdoc Daily, which offers agriculture-based data analysis, 68% of U.S. consumers expected rising food prices to impact their holiday meals in 2023. Similar concerns may prevail in 2024.
Stretching holiday entertaining dollars comes down to being savvy. With that in mind, hosts can consider these meal modification strategies this holiday season:
- Replace a high-cost protein with a more affordable alternative. Sometimes a holiday meal calls for pulling out all of the stops, and that may mean spending more on a special main dish. Rather than a luxury like beef tenderloin or prime rib roast, consider a less expensive dish, such as a pork tenderloin, roasted chicken or even seafood.
- Add extra side dishes. Incorporate an inexpensive item like rice, beans or an extra vegetable side dish into the meal so that plates can be filled with the less expensive foods and fewer high-cost items.
- Shop the sales. Plan meals around a supermarket circular. While you may have had one holiday dinner idea in mind, once you see what the stores are putting on sale you can stock up on those items and build the dinner around them. If you find a good deal ahead the holidays, buy the items and freeze them until they’re needed.
- Buy generic or store brands. Chances are no one will notice if you use generic or store brand ingredients, which can be considerably cheaper than their brand-name counterparts. Many are even manufactured in the same facilities that produce the name brand stuff.
- Make an affordable drink. Alcohol costs can add up when you try to cater to everyone’s tastes and preferences. Make one or two bulk drinks, like a holiday punch or signature cocktail, so you can keep alcohol costs in check.
- Stretch the snacks. Instead of a charcuterie board filled with expensive cheeses and meats, opt for dips and raw vegetables or a low-cost cheese ball made with cream cheese and herbs with crackers. Keep snacks to a minimum; otherwise, guests may fill up and then not have room for dinner.
Holiday hosts can embrace various strategies to save money on family meals this season.
