Hosting Thanksgiving dinner? 9 smart ways to save money

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Sandra Lee talks Thanksgiving turkey, stuffing and sides

Chef and television host Sandra Lee shares with Fox News Digital what her favorite Thanksgiving side dish is and why she prefers two smaller turkeys to one big bird.

The cost of a Thanksgiving meal is expected to be cheaper than last year, which can be a big relief for families.

Between preparing the house for guests, planning a menu and putting that menu together without overcooking your turkey or having clumpy gravy, a great deal of responsibility falls on the shoulders of the dinner host — not to mention the financial burden. 

But there are things you can do to cut down on the costs.

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Below are nine ways you can put money right back in your pocket (and possibly save for Christmas) when hosting Thanksgiving dinner this year.

Check out these tips.

There are ways to save money when hosting Thanksgiving dinner this year. (iStock)

9 ways to save cash this year

1. Stick to what you know

2. Share the responsibility

3. Create the menu before you shop

4. Browse through your kitchen first

5. Limit last-minute purchases

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6. Look for coupons

7. Have leftover plans

8. Try BYOB

9. Use DIY decor

1. Stick to what you know 

Experimenting with different recipes can be fun, yet Thanksgiving may not be the best time to try out the new dessert recipe you saw on TikTok. 

From a financial perspective, trying new recipes could result in a lot of wasted ingredients if what you try to create doesn't turn out the way you planned it. 

Stick to familiar recipes, which helps limit wasted ingredients.

2. Share the responsibility 

Your home may be the setting of a beautiful Thanksgiving feast, but that doesn't mean you are solely responsible for it. 

Don't be afraid to ask your guests to bring a dish. Having others bring side dishes and desserts can be extremely helpful to you and will also save you money. 

Don't be afraid to ask others to bring Thanksgiving dishes to dinner. Family and friends are usually very willing to help out.  (iStock)

Most of the time, loved ones will be very willing to help out and may even offer to do so. 

Just make sure you know who is bringing what ahead of time, so you don't end up with two pans of stuffing and no sweet potato casserole.

3. Create the menu before you shop 

Once you know what everyone is bringing, it's time to figure out your menu and what you need to make. 

Shop with a list – or you'll end up buying more than you need. 

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Create a clear menu of the dishes you want to have and then write down all the ingredients you'll need to create the dish. 

Be sure to create a list of the items required to make your Thanksgiving dinner. That way, you won't wind up buying more than you need. (Kara Hawley/Rockford Register Star/USA TODAY NETWORK)

4. Browse through your kitchen first 

Before you shop at the store, shop in your own kitchen. You probably have a lot more ingredients than you realize. 

Buying duplicates of items, especially things like spices, can really add up. 

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Be extra sure that you don't already have an ingredient before purchasing it.

5. Limit last-minute purchases  

The price of staple Thanksgiving items may go up and be in very limited quantities too close to the holiday. 

The closer it gets to Thanksgiving, the more expensive certain foods may become. (iStock)

Try to get the bulk of your shopping done in advance to save yourself money and stress. Additionally, when it comes to buying a turkey, make sure that you are buying the proper amount for the number of guests that you have. 

While you want to have enough for everyone, you don't want to spend extra money on a turkey that is far too big for your guests. 

6. Look for coupons 

Don’t skip out on coupons. It may not seem like it, but using coupons can save you tons of cash. 

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Also, compare prices of products at different grocery stores to make sure that you are getting the best price possible.

7. Have leftover plans 

Have plans for your leftover food so that it doesn't go to waste. 

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Thanksgiving food is great to put together in a delicious turkey sandwich the following day. 

There's likely going to be leftovers no matter how much you plan ahead. Don't throw out leftovers. Send them home with guests instead. (iStock)

Take some leftovers for yourself and also have a plan for how to distribute them to your guests. To save money, ask your guests to bring their own Tupperware with them for any leftovers they'd like to take home. 

8. Try BYOB 

Buying alcohol for guests can quickly become an enormous expense. Buying less expensive drinks like soda and lemonade will help keep beverage costs low. 

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If guests want to have alcoholic beverages, simply let them know that it will be a BYOB event. That way, those who want alcohol can bring whatever they prefer with them and anyone who doesn't want it will have other drink options. 

9. Use DIY decor

There's no need to dump loads of cash into decorating your house for the occasion, since there are many inexpensive ways to make your own decorations. 

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Plus, putting them together yourself is more rewarding and can be a fun activity for you and your family members to do together. 

Cortney Moore contributed reporting.