NATIONWIDE – The price of holiday cheer this Thanksgiving season is hitting an all-time high, according to new research, which found that the average American celebrating the holiday will spend nearly $1,000.
A survey of 2,000 U.S. adults who celebrate Thanksgiving, conducted by Talker Research on behalf of the banking app Chime, found that total holiday spending is expected to average $952 per person. With the average host serving eight guests, this breaks down to approximately $21.88 per plate.
Breaking Down the Cost
While food and drink form the core of the Thanksgiving experience, they account for only a fraction of the total budget.
| Category | Average Spend |
| Food Alone | $175 |
| Drinks | $110 |
| Travel | $293 (for those who travel) |
| Miscellaneous (Outfits, Repairs) | $291 |
| Decor | $83 |
| TOTAL AVERAGE SPEND | $952 |
The “miscellaneous” category, covering unexpected costs such as appliance repairs or new holiday attire, accounted for an average of $291 in expenses. Furthermore, while one-third of respondents aren’t traveling, those who are plan to spend an average of $293 on trips, pushing the overall total near the thousand-dollar mark.
The Rise of the “Thanksgiving Season”
The research also found that Thanksgiving is no longer just a single-day event. The average person will attend three different gatherings this year, including household dinners (58%), traditional family gatherings (51%), and Friendsgivings (30%).
This high volume of socializing has led 59% of respondents to note that it’s evolved into a whole “Thanksgiving season,” with two in five Gen Z respondents even splitting the holiday between different sides of the family.
Budgeting and Cost-Cutting Strategies
In response to the mounting costs—63% of respondents find it expensive to gather with family—Americans are adapting their financial strategies:
- Planning Ahead: 43% of Americans set a budget beforehand, with Millennials the most likely to do so (53%). Nearly half (49%) start planning and saving months in advance.
- Spending Less: 35% are planning to reduce their spending this year, opting to spend an average of 41% less than in previous years.
- Cost-Saving Tactics: Respondents are reducing costs by hosting smaller gatherings (31%) or adopting a potluck style, having guests bring dishes (28%). Gen Z is specifically opting for cheaper brands (28%) or skipping travel (24%), while Millennials are leaning into a more minimalist approach (36%).
“Results found that 63% of respondents find that it’s expensive to get together with family during Thanksgiving, which undermines the whole meaning of the holiday,” said Janelle Sallenave, Chime’s Chief Spending Officer. “No matter your budget, there are easy ways to make the season more affordable: plan your menu early, set spending limits, and don’t be afraid to ask guests to pitch in.”
Who Pays? Generational Divide
The survey also highlighted a generational split in how costs are managed:
- Baby Boomers: One in three believe the host should pay for everything.
- Gen Z: 33% believe the costs should be split evenly between everyone.
Regardless of payment methods, nearly half (45%) of Americans report feeling pressure to host the “perfect” Thanksgiving, adding emotional stress to the financial strain.
“The goal is to celebrate without financial stress,” Sallenave added. “Whether it’s sharing the cost of a meal or setting a clear holiday budget, small financial choices can make a big difference.”
Talker Research surveyed 2,000 Americans who celebrate Thanksgiving, split evenly by generation (500 Gen Z, 500 millennials, 500 Gen X, and 500 baby boomers) who have access to the internet; the survey was commissioned by Chime and administered and conducted online by Talker Research between Oct. 17 and Oct. 23, 2025. A link to the questionnaire can be found here.
