Fourth of July Cookout: Here's How to Plan a Budget-Friendly Independence Day
The Fourth of July cookout will be way more affordable this year! A survey from the American Farm Bureau Federation found that each family is expected to spend $67.73 for a party of 10, down 3% from last year's record high. "The slight downward direction in the cost of a cookout doesn't counter the dramatic increases we've seen over the past few years. Families are still feeling the pinch of high inflation along with other factors keeping prices high," said Roger Cryan, chief economist at the American Farm Bureau Federation. This is still the second-highest finding recorded since the American Farm Bureau Federation started conducting this survey ten years ago in 2013.
Key Findings
The survey was conducted by volunteer shoppers who looked at the prices of Fourth of July essentials at more than 240 stores in every state and also Puerto Rico between June 1 and 8. The findings shed light on the year-to-year rise in the cost of hamburger buns, potato, and beef salad. It also saw a fall in the price of chicken breasts, lemonade, and cookies. The organization also found that drought conditions have increased the cost of feed and reduced their cattle volume which resulted in the beef prices going up. On the other hand, the higher potato prices were caused by the drop in production. Despite the price increases the President of AFBF said that "America still has one of the most affordable food supplies in the world." He attributed this to the fact that America has strong "farm bill programs."
Purchases Affected By Inflation
A survey conducted by ChainStore found that 87% of the 2600 respondents planned to celebrate independence day this year. The number is up from 64% last year, and 75% the year before that. More than 90% of the respondents plan to buy something for the upcoming national holiday. The top celebration plan is to watch the fireworks followed by indulging in some fine barbecuing or attending and hosting a gathering. Two-fifth of the respondents believe that their purchase will be impacted by inflation and the majority are looking for a way to plan a budget-friendly celebration as per the survey. Twenty-Seven percent of people are planning to use more coupons and 20% said that they will buy their celebration items from dollar stores or discount stores. If you are among those looking forward to having a fun-filled celebration, check out below for some handy tips.
5 Ways To Host a Budget Fourth Of July Party
Shopping at the last minute: This strategy might help you as many supermarkets host last-minute clearance sales for staples. Having said that, keep an eye on the demand and make sure to grab the deal before it runs out.
Avoid themed collection: It's always a good idea to create your theme for the cookout or an indoor party rather than buy the themed items as they are mostly priced at a premium.
A potluck can always be a good idea: Asking your friends to bring along an appetizer or a dessert item can help you to save a few bucks but also adds variety to the party.
DIY Decoration: Not only can this trick help you save some money, but it could also be a cute activity for you and your kids. Keep it simple and fun.
Shop for Next Year: Okay not exactly a tick for this year, but shopping for decors and other items after the event is over can get you some amazing deals. The same can be done to stock up for any holiday.