One in FOUR Americans can only afford to spend an average of $100 on Thanksgiving this year

More than 25 percent of Americans asked in a new survey say they have less than $100 budgeted for their Thanksgiving shopping, according to a new survey. 

Most Americans - 57 percent - say they have put aside between $100-$200 for their family gathering, according to a survey conducted by digital wealth management company Personal Capital.

About one-third of hosts say they plan on hosting a smaller dinner this year, and a stunning 88 percent are eliminating at least one dish from their table in order to cut costs.

The Personal Capital survey asked 1,000 Americans to detail their financial plans for Thanksgiving.

Last year, hosts spent an average of $391 on the holiday, according to a survey by Lending Tree. 

As inflation has surged and was running over eight percent through the end of September, the cost of classic Thanksgiving dishes has skyrocketed. 

Prices have risen a whopping 112 percent for fresh, skinless turkey breasts in the last year, and frozen turkeys are retailing for an average of $1.99 per pound, which is a 73 percent increase, according to the USDA.

Most Americans say they are prepared to spend between $100-$200 on Thanksgiving this year. Americans said they spent $391 on average last year

The cost of Thanksgiving each year since 2018 as the majority of Americans say they're prepared to spend $100-$200 this year 

Americans are poised to spend 12 percent more on Thanksgiving meals than last year as the price of turkey jumped to $1.99 per pound

Headline inflation rose 8.2% in September from a year ago, another slight decline from the recent 40-year high reached in June

As Americans contend with vastly inflated costs of Thanksgiving ingredients at the grocery store, 52 percent of hosts are asking guests to bring a dish to dinner. Three out of four are asking guests to bring their own alcohol, and 46 percent are asking guests to provide dessert.

Last year's price of a Thanksgiving turkey was already up 24 percent year-over-year from 2020, making this year's jump particularly painful as costs rise while salaries do not.  

Grocers and deli owners are also cautioning of a current turkey shortage that could impact the Thanksgiving supply of birds.

Businesses have been struggling to get their hands on turkeys as an unexpectedly long avian flu season killed off 3.6 percent of the country's turkey population.

The virus has brought new burdens to the already struggling turkey market that has contended with increasing operating costs and supply shortages. 

Turkey supplies began depleting in 2019 after prices crashed, and supply has remained relatively low during the pandemic as Americans cut back on holiday festivities as part of Covid lockdown mandates.  

Beyond the table's poultry centerpiece, the price of most other elements of a Thanksgiving feast have jumped as well. 

Everything from the price of vegetables to cranberry sauce has increased in price and Americans will be paying at least 12 percent more for their Thanksgiving ingredients this year than they did in 2021.

Americans detail where they will look to cut costs on Thanksgiving as inflation rates continue to soar turkey shortages threaten the widespread availability of birds this holiday season

Restaurants, grocery stores, and deli owners are already announcing that they have been impacted by the 2022 turkey shortage, just weeks ahead of Thanksgiving dinner, as avian flu killed 7.3million birds

The price of Thanksgiving turkeys already rose by 24 percent in 2021. This year's price jump will be especially painful to American's struggling to make ends meet

In order to attempt to cost cut where they can, nearly 40 percent of Americans say they will paying extra attention to deals on their shopping carts.

A third say they will strive unusually hard to stick to their shopping lists and 28 percent say they will be purchasing a smaller bird to try and mitigate costs.

Forty-five percent of the country say they feel financially stressed by Thanksgiving this year and 42 percent have asked family and friends to help pay for the meal.

Just under half (47 percent) of Americans say they will celebrate 'Friendsgiving' this year because of its more budget-friendly menu. At about one-third of those meals, groups say they will opt for a pizza on the table instead of a turkey.