Thanksgiving money facts: Turkey trivia to home fires

Did you know in 2019 alone, more than 227,650,000 turkeys were consumed, at an estimated wholesale cost of almost $6.5 billion. It's clear the nation goes turkey this holiday season.

thanksgiving money facts
The holiday season is just around the corner, starting with Thanksgiving. What a time to eat, be merry and thankful. With people focused on going on shopping sprees taking advantage of the many ridiculous sales that are usually offered by stores and brands, the holiday mood gets off to a great start every year.

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Thanksgiving is a wonderful time of the year indeed, however, there are some lesser known money facts about the holiday season you perhaps never knew. From how much turkey is going around to the odd connection with home fires, check out these financial facts below. You never know, these Thanksgiving money facts just might come in handy.

How much are people spending on Thanksgiving dinner?

Many people may find it tough to spend big bucks on a Thanksgiving dinner. The holiday season usually brings a lot of expenses with it so it’s understandable if the majority don’t want to splurge on a single dinner. But if you’re someone who is looking forward to a huge Thanksgiving dinner with your family and friends, you should know that there are some extravagant options for you to check out. 

There are restaurants where Thanksgiving meals could cost you more than a luxury car. For example, the Old Homestead Steakhouse located in New York City in 2019 charged $181,000 for a meal for 12 people. Apart from the obviously delicious food, they also gave the diners a luxury cruise for two, Superbowl tickets and two brand new iPhones. 

Now is that worth your money? We leave that up to you, but if you’re looking to go big this Thanksgiving, you know what you’re looking at. Moving on the other Thanksgiving money facts.

How much turkey goes around during Thanksgiving? 

Thanksgiving simply isn’t complete without the traditional carving of a turkey. Americans go crazy over turkey during the holiday season. Here are the numbers: In 2019 alone, more than 227,650,000 turkeys were consumed, at an estimated wholesale cost of almost $6.5 billion. This also means that this year will feature the most expensive Thanksgiving dinner ever.

If you think those are crazy numbers, look at what chickens went through in 2019. More than 9 billion chickens were consumed in that year. So, whether you’re a chicken person or not, you can be sure that America goes turkey during the Holiday season. However, make sure you stay away from debt this Thanksgiving with these tips.

Not many are planning to travel this year 

The Thanksgiving weekend, is when people usually tend to travel the most. But given everything that has happened in the last 18 months, not many are planning on traveling this year. About 75% of Americans are planning on staying put at home and even those who are planning a holiday trip are thinking of driving by car. 

Public travel may not be the safest mode of travel just yet. Till the COVID-19 situation dies down completely, we can expect most people to still be wary of traveling. 

Thanksgiving has the most reports of home fires

Sounds shocking right? Imagine a national holiday contributing to the most number of reported fires in the country. But that’s exactly what happens. About three times more fires from home cooking are reported on Thanksgiving compared to any other day. 

Most people cook Thanksgiving meals for their friends and families, so this statistic may not be surprising. But one of the main reasons for this increase in fires can be attributed to turkey fryers. The National Fire Protection Association says that people should avoid using fryers since they tend to cause damage when they are used without caution. 

How it all started 

It was President Abraham Lincoln who first started the tradition of celebrating Thanksgiving. After the Civil War, on the last Thursday of November, he announced a day of thanksgiving. It was later made official. Eventually, it created a shopping problem.

When first announced, the last Thursday of November was also the last day of the month that year. With the economy struggling due to the Great Depression, this meant a shorter holiday season shopping. 

President Franklin D Roosevelt moved Thanksgiving to the last Thursday of November so that it did not fall on the last day of November and gave Americans more shopping time for their holiday gifts. Ever since, this period has become that much busier and eventually came to be known as Black Friday. 

Celebration crunch

Black Friday sales usually see ridiculous numbers of people thronging various stores just to get their favorite goods at heavy discounts. However, this year is trending towards most people shopping online given the effects of the pandemic. Hence, brands and stores will have to change their sales strategies to suit the changes in shopping trends. Advertisements, marketing, promotions, and sales will all have to undergo strategic changes if brands are planning to keep up with demand and supply. 

We can also expect a drop in the number of people who may shop freely this year given that most of them have gone through severe financial crunches during the past 18 months. 

The Macy’s Thanksgiving Day Parade

The Macy’s Thanksgiving Day Parade first started in 1924. And it wasn’t shown on television because it hadn’t been invented yet back then. This year, however, everyone will have to watch it from home on their televisions. 

All those balloons flying high in the sky are a treat for the eyes for sure. But have you ever thought about how much it costs to participate in the parade? A new balloon will set you back $200,000. And if you already have one, be prepared to spend $90,000 to get the approval to participate in the parade. 

This page is purely informational. Line does not provide financial, legal or accounting advice. This article has been prepared for informational purposes only. It is not intended to provide financial, legal or accounting advice and should not be relied on for the same. Please consult your own financial, legal and accounting advisors before engaging in any transactions.

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