More NJ families may cancel Thanksgiving to save money

Faced with rising food prices and tight budgets, more families are planning to scale back Thanksgiving dinner or cancel plans entirely.

Inflation has hit many New Jersey families hard, forcing them to cut back on many expenses. Will that include canceling holiday plans in November?

While specific numbers for the Garden State are unclear, a new survey from Personal Capital claims one-in-four Americans plan to pass on Thanksgiving this year to save money.

The cost of turkey has been rising

Bird Flu decimated turkey flocks at farms in many parts of the U.S. Coupled with labor shortages and rising prices for feed, the per pound cost of turkey as risen to nearly $2.00.

New Jersey 101.5's Dino Flammia has been tracking the cost of a basic Thanksgiving menu for years, and put the cost of last year's feast at around $50 for 10 people.

The Personal Capitol survey said more than 1-in-4 Americans will budget around $100 for this year's dinner.

That figure does not include alcohol, and that is an area where many may ask their guests to chip in.

42% say they are willing to ask guests to pitch in money for the meal or ask guests to bring food or booze.

75% said they would ask friends and family to bring alcoholic beverages.

The survey also showed a growing in the trend of "Friendsgiving" celebrations, where turkey was not the center of the menu. For a third of those celebrations, pizza was the top choice.

Eric Scott is the senior political director and anchor for New Jersey 101.5. You can reach him at eric.scott@townsquaremedia.com

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