The three pillars on any holiday gathering are friends, family and food – and a generous bounty of the latter is certain to attract the first two.
However, putting out the welcome mat with a lavish and abundant spread on the dining room table doesn’t have to break the bank. Deidre Davis, chief marketing officer for Michigan State University Federal Credit Union, explained how families can be enviable and admired hosts while still operating within a holiday dinner budget.
“First, plan early. Set your menu as soon as possible to get an early start on saving. Not only will you catch early specials at the grocery store, you will also avoid the last-minute scramble that often means paying more,” Davis said. “Second, use coupons. When you plan early, you can take advantage of coupons and special offers. Stores are vying for your business, and often offer great deals. Third, keep it simple.”
By using recipes calling for items you already have, you can save money and make it easier to prepare your dishes. For example, instead of a 10-ingredient salad, make a fresh salad with a simple dressing of minced garlic, Dijon mustard, lemon juice and olive oil – all things you likely already have – and savor the full flavor.
“Finally, bulk up on your next visit to the warehouse stores to stock up on high-quality ingredients such as organic greens, olive oil, milk and butter in bulk,” she added. “Also look for bulk-quantities of meat and dairy you may use more of during the holidays.”
To help reduce costs, Davis said you can plan a fabulous menu including your guests’ favorites with some thoughtful planning. One idea is to incorporate some great fall vegetables into your meals. They will add to your overall dinner experience and could start a new tradition of saving money. Consider purchasing a small turkey and adding more seasonal veggies to your menu.
“Another idea is to ask your guests to bring a side dish or dessert representing their own family traditions,” she said. “This can help them feel more a part of the celebration. A bounty of your guests’ favorite recipes brings extra warmth to the table. Your guests could also bring the beverages. Suggest a festive punch or hot spiced cider as possibilities. And don’t forget about leftovers. Think about the leftovers – and savings – you will enjoy as you stretch your holiday dinner beyond the big meal. Offer to share leftovers with your guests too.”
While this time of year is a time to look forward to for many of us, the holidays can put extra strain on your budget. Many financial institutions offer savings options to help you put a little extra away for these occasions. MSUFCU has many savings options where members can set up automatic withdrawals from their checking accounts and then access the funds at the time when they need them.