I hope everyone enjoyed their Thanksgiving yesterday! We had turkey and watched some football at my brother & sister-in-law’s nearby house with our broader family. Wonderful day.
When we were there, we got into the annual conversation about the Thanksgiving turkey, how much it weighed, and how much it cost this year. It got me thinking that most people do not probably realize what an incredible value today’s Thanksgiving turkey is compared to years gone by, but it mirrors overall food trends.
Food used to be the #1 spending category for US households in the 1940s, but it has dropped dramatically over the decades.
Related: Changes in Consumer Spending over 75 Years
As an example, Thanksgiving turkeys cost just over $0.50 a pound at our Target Store this year. You could get a big 16 pound bird for about $8. By comparison, that’s about 33% more turkey for the same price as it would have been in the 1940s.
I recently listened to an old ‘Our Miss Brooks’ radio show from 1947 where the cast lamented that they couldn’t get a 12 pound bird for less than $8. It’s incredible to think that despite 1138% general inflation since 1947, Thanksgiving turkeys cost less than what my grandparents paid!
Like holiday turkey, many essentials of life that have dramatically dropped in price relative to inflation. Our houses are tighter, are cars are more reliable, and our electronics are amazing. It’s hard to plan into your FIRE spending plan, but our quality of life continues to grow. What one generation views as an extravagant luxury, the following generations develop strategies to bring it to market in affordable ways.
Have A Great Holiday Weekend & Be Thankful for Our Blessings of Abundance!
Image Credit: Pixabay
5 thoughts on “Turkey Economics”
Thank you, that was a nice Holiday message — even though some of us buy organic turkey and spend more on it — yum!
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I’m not sure if they had organic turkey in 1947. I would guess it was all organic back then! Happy Thanksgiving, Carol!
I agree that our QOL continues to improve. For instance, I’d rather be in the middle class today than John D. Rockefeller of 100 years past in terms of medical care, food, transportation, internet, etc., it is not even a close comparison…one gentle correction, I’m sure you meant 1140% inflation from 1947 to now.
Yes & yes! So many niceties today versus in Rockefeller’s time. And, yes – I dropped a decimal place there (fixed)!