Cooking at Home vs. Eating Out on Thanksgiving: Which is More Cost-Effective?
As Thanksgiving approaches, many Americans are faced with the decision of whether to cook a traditional meal at home or dine out at a restaurant. While the convenience of dining out may be appealing, the cost can be a significant factor in this decision. So, which option is more cost-effective? Let’s delve into the details to find out.
Cost of Cooking at Home
Preparing a Thanksgiving meal at home can be a cost-effective option, especially if you’re feeding a large group. According to the American Farm Bureau Federation, the average cost of a home-cooked Thanksgiving meal for 10 people in 2020 was .90. This includes a 16-pound turkey, stuffing, sweet potatoes, rolls with butter, peas, cranberries, a veggie tray, pumpkin pie with whipped cream, and coffee and milk.
Factors Affecting the Cost
The size of your guest list: The more people you’re feeding, the more cost-effective it becomes to cook at home.
Your menu: If you opt for more expensive dishes or ingredients, your costs will increase.
Where you shop: Prices can vary significantly from one grocery store to another.
Cost of Eating Out
Eating out on Thanksgiving can be more expensive per person than cooking at home. According to a survey by LendEDU, the average American spends .59 per person when dining out on Thanksgiving. This cost can increase if you choose a high-end restaurant or opt for additional courses.
Factors Affecting the Cost
The restaurant: Upscale restaurants will have higher prices than casual dining establishments.
The menu: Choosing more expensive dishes or adding extra courses will increase your bill.
The number of people: Unlike cooking at home, the cost per person generally doesn’t decrease significantly with more people when dining out.
Conclusion: Which is More Cost-Effective?
Based on the average costs, cooking a Thanksgiving meal at home is generally more cost-effective than dining out, especially if you’re feeding a large group. However, it’s important to consider other factors such as the time and effort required to prepare a meal at home, and the convenience and experience of dining out. Ultimately, the decision will depend on your personal preferences and circumstances.
Remember, Thanksgiving is about more than just the food. It’s a time to give thanks and spend time with loved ones, whether that’s around a home-cooked meal or a restaurant table.
