Castle Law Office Blog | Missouri & Illinois Bankruptcy Legal Blog

Will Thanksgiving Cost As Much As It Did in 2008?

The costs of everything have risen. From shoes and phones to cranberries and yams, we’re all paying a little bit more these days. Last year, the cost of Thanksgiving rose 5.6%, going from $42.26 to $44.61. That is a bigger rise in pricing than we’ve seen in years with 2005 and 2006 both seeing an increase under 3.7%.

So why is it costing us more to have our feasts? Food is a necessity. When the going gets tough, the things that people don’t need are thrown out of the budget and we’re left with only what we must have. And we must have food. So, grocers can raise the price of food and we’ll still have to buy it.

Fortunately, economists aren’t predicting as high of an increase for 2009. Regardless of the predictions, we will still be spending more. And, most likely, spending for Thanksgiving will just be a precursor to the real debt that we’re left with after Christmas.

Are there any good solutions? I’ve actually helped many families with their holiday bills. Because so many people are buying the holiday supplies on credit, I can help them with a Chapter 7 Bankruptcy. In most cases, a chapter 7 can wipe the credit card debt that brings down a family’s holiday spirit and let them start fresh. Relieving the burden of debt makes it easier to give thanks for the things that really matter, like health, family and friends.