10 Finance Lessons You Can Learn This Thanksgiving

Thanksgiving can be an exciting holiday and also teach you about money. Thanksgiving is the time when friends, family, and loved ones gather for a meal and reflect on what they are thankful for. This Thanksgiving, learn these ten important financial lessons that will help you spend wisely.

Thanksgiving Finance Lessons

  1. You need a budget. Planning a big meal for a large group costs money. To pull it off without spending a fortune, you need a budget. Aim for a per-person budget or a total budget so you can splurge on some things and look for discount options for others.

  2. You need a plan. Planning is one of the big Thanksgiving finance lessons when it comes to budgeting and buying. Shopping sales, buying in bulk and even buying before the Thanksgiving rush can teach you that a good plan is worth its weight in gold.

  3. You can’t plan for everything. Last minute guests, store outages and more can ruin your Thanksgiving plan. You’ll have to improvise, but if your budget is prepared right, you’ll see that a good plan ensures you have wiggle room at the end of the day.

  4. You always need reserve resources. The best plans can fall away quickly, and in a pinch, you may need to spend more. Keep money in reserve as part of your budget.

  5. You should pay yourself first. Having loved ones for dinner is ideal around this time of year, but you need to take care of yourself first. Pay bills before planning a big feast.

  6. Be smart with every penny. Being frugal is essential around Thanksgiving, and even a small savings per-person can go a long way when shopping.

  7. Money doesn’t equal happiness. Thanksgiving illustrates that the love of friends and family is far more important than the money spent on preparing a meal.

  8. Value different opinions. Your guests may have varied opinions, but you need to deal with those calmly to avoid getting into an argument. Similarly, when planning your finances, you need to respect different opinions but ultimately make the right decision for you.

  9. Budgeting for more than you need. Planning for a Thanksgiving dinner helps you learn to plan for more than you need. For example, maybe you have planned for six guests but two more guests show up unannounced. Likewise, always plan your finances the similar way and make sure to have funds in hand in case of last minute changes. Always budget for more than you think you will need.

  10. Help the next generation learn financial discipline. Encourage your kids, grandkids, nieces, and nephews to help you build the Thanksgiving budget. Ask them to calculate the costs of ingredients and look for coupons on those ingredients. This way, you can show them the importance of having and keeping a budget.

Also Read: 6 Gift Ideas for the One You Love Most on Thanksgiving

Enjoy the holiday and learn these Thanksgiving finance lessons at the same time.

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Robin Williams

Robin Williams is an Executive at CashOne, a reputable financial services company that helps consumers tide over their short-term financial crises. Our fast, convenient, and secure online loan application eliminates the unnecessary hassles or time required to procure payday loans online.

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