LendEDU released their annual Cost of Thanksgiving survey and the average American is expected to spend over $10.00 more than a year ago.  One thousand people were surveyed to determine how much Thanksgiving will cost the average celebrator.

 

On November 22, families and friends throughout the United States will come together to kick off the holiday season. Thanksgiving is not only a holiday to give thanks, but it is apparently a day to kick off the gift-giving season as well.

For the second consecutive year, LendEDU conducted a survey of 1,000 Americans to uncover how much Thanksgiving will cost the average celebrator.

The Thanksgiving spending statistics they came away with are very interesting.

Average American Anticipates Spending $175.65 on Thanksgiving

This survey was run in exactly the same manner as the previous year. Respondents were asked the following: "How much do you expect to spend on Thanksgiving this year?"

After averaging together answers from 1,000 Americans who intend to celebrate Thanksgiving this year, they found an average expenditure of $175.65 per person. The median value was $100.

This year's figure is a bit of an increase over last year's figure, where the average Thanksgiving expenditure was $165.14 per person.

One of the top expenditures is travel.  Whether by plane, train, bus,car or Uber, millions of Americans will be going somewhere to observe the Thanksgiving holiday.  AAA estimates that 50.9 million Americans journeyed at least 50 miles away from home last Thanksgiving, in addition to 4 million traveling in the sky and 1.5 million by train.  Average car rental rates spike to $70 per day during Thanksgiving.

The average respondent says they will allocate 21 percent of their total Thanksgiving expenditures to travel.  The percentage equates to $36.88 per person.

Obviously, food expenditures vary also depending on the size of the gathering for a meal.

All data found within the report came from a poll commissioned by LendEDU and conducted online by polling company Pollfish.