According to the American Farm Bureau, the average American family will spend $44.61 on a traditional Thanksgiving meal for 10 people this year. That’s a $2.35 increase from last year’s price, which is more than double the typical yearly increase of $1 and some change.

There’s been a lot of buzz about this increase in the news. You know what, though? That’s not too bad if you ask me. Try finding a restaurant meal of Thanksgiving proportions for under $4.50 a person. Not happening.

Thanksgiving really is the most frugal day of the year. What other day do the majority of American families stay home instead of going out to eat? Most stores are closed, so nobody is out shopping. Instead of spending money, we stay home eating a good home cooked meal and spending time with family.

I was curious about our Thanksgiving costs, so I took the time to add up the numbers for our meal. Here’s an estimate of what we spent this year:

12-pound turkey: $6
Potatoes: $2
Cubed stuffing: $2.50
Celery: $1
Fresh cranberries:$2
Canned pumpkin: $1.25
Miscellaneous cooking items (flour, sugar, eggs,milk): $3 (a very rough estimate)

Total: $16.75

It may look like we’re spending more than $8 per person, but don’t forget about the leftovers! We’ll be eating them all weekend long. :)

What about you? How much are you spending on Thanksgiving this year?