While Thanksgiving will look a lot different this year, that doesn’t mean folks aren’t celebrating altogether, and many will be shelling a lot of dough to enjoy the holiday.
A new LendingTree survey finds:
- This year’s Thanksgiving host will spend an average of $475 on the holiday.
- That’s up from $310.17 last year, or a 53% increase
- Almost a quarter say they are spending more to make up for all the holidays missed this year.
- Overall, 41% of Americans will host guests this Thanksgiving, up from 33% last year.
- On average, hosts plan to serve dinner for nine, down from 10 last year.
- 40% of people say hosting Thanksgiving is financially straining.
- And it doesn’t just cost people money, it costs them in hours too.
- The average host will spend 8.6 hours preparing the holiday meal.
- 52% actually say they or someone in their house takes off work to get it done.
- As for hosts' biggest holiday concerns:
- 42% are worried about heated conversations at the dinner table.
- 22% are worried their will be a political debate.
- 15% are worried about arguments over the coronavirus.
Source:LendingTree