No Memorial Day Plans? Here’s How Much Money You Will Save

Memorial Day weekend is just around the corner. It’s a time to honor those who passed in U.S. military service. For many, it’s also the unofficial kickoff for summer, and it’s a time to gather with family and friends, fire up the grill, hop in the pool or just go shopping. After all, Memorial Day is almost synonymous with pre-summer sales.

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A recent survey conducted by GOBankingRates found that 23% of respondents have no plans to celebrate Memorial Day at all this year.

The budget varies widely for those who do plan to celebrate, as well. The survey revealed a wide range for those planning to spend on Memorial Day activities. The largest percentage, 23%, said they plan to spend $50 or less, and 18% anticipate spending between $51 and $99. Another 16% expect to spend $100 to $199.

And 5% are ready to drop $500 or more on their celebrations this year.

What Are the Big Spenders Spending On?

Where is all this money going? Food and beverages are probably the biggest cost for many. Cookouts, picnics and backyard barbecues are practically mandatory on Memorial Day. If you’re hosting a gathering of your own, you’ll probably need to stock up on burgers, veggies, snacks and drinks to keep your guests happy.

If you’re celebrating away from home, this year, travel is another potential cost. You might take a road trip to visit family, the beach or a weekend getaway. Gas, hotels or Airbnbs, and other travel-related expenses can add up fast.

Concerts, festivals and sporting events, such as the Indy 500, are often happening over the holiday weekend. You’ll need to account for more than just the ticket prices, too — food, drinks and merchandise can really add up.

Memorial Day sales are another way to celebrate. You might choose to invest in new outdoor furniture or grills for your holiday party, or grab some too-good-to-miss deals on appliances or a new mattress.

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How Much Will You Save by Opting Out?

According to the survey, the average amount saved by not celebrating Memorial Day is about $150. And although that might not seem like a ton, it depends on your situation. If you’re on a tight budget, or want to make a big purchase soon, it’s all about incremental saving.

Free Alternatives for Memorial Day

Wanna save money but still want an adventure this Memorial Day? Here are some no-to-low cost options.

• Take a hike. Visit your local park or trails to enjoy the (finally!) warmer weather and enjoy nature. Bonus points if you pack a picnic lunch!

• Get cultured. Lots of museums and galleries offer free admission or discounted rates on certain days — check to see what deals are going for Memorial Day!

• Attend a community event or festival. Many cities and towns organize free or low-cost events, such as outdoor concerts, parades or cultural celebrations, during the Memorial Day weekend.

• Host a Potluck. Gather friends and family for a shared meal, where everyone contributes a dish. It’s a fun and budget-friendly way to socialize.

• Volunteer. Give back to your community by volunteering at a local charity.

• Just relax. Take advantage of the extra day off to catch up on sleep or read a book.

Some might view skipping Memorial Day celebrations as a missed opportunity. But others will see it as a chance to save money and enjoy a relaxing weekend at home. Regardless of your plans, making conscious choices about how to spend your money can go a long way in achieving your goals.

Note: For survey results, percentages were rounded to the nearest whole number.

Methodology: GOBankingRates surveyed 999 American women aged 18 and older from across the country on between May 3 and May 7, 2024, asking twenty-two different questions: (1) What will you spend the most on this summer?; (2) Has inflation impacted your summer vacation or travel plans this year?; (3) If you’re going on a vacation, how do you plan to travel? (select all that apply); (4) If you’re going on a vacation, where do you plan to stay? (select all that apply); (5) How much do you expect to spend on vacation this summer?; (6) What’s the best way to save money on vacation costs?; (7) If you are a parent, how much will you spend on summer activities/camps for your child(ren)?; (8) If you are a parent, how much will you spend on weekly child care costs this summer?; (9) Which retailer do you shop at most for your summertime needs?; (10) Which retailer do you think has the worst deals on summertime essentials?; (11) If you shop at Dollar Tree, what’s your summertime must-buy? (select all that apply); (12) If you shop at Costco, what’s your summertime must-buy? (select all that apply); (13) If you celebrate Memorial Day, how much money do you plan to spend?; (14) If you celebrate the Fourth of July, how much money do you plan to spend?; (15) If you celebrate Labor Day, how much money do you plan to spend?; (16) If you’re shopping during Memorial Day weekend, what are you planning to buy? (select all that apply); (17) If you’re shopping during the Fourth of July, what are you planning to buy? (select all that apply); (18) If you’re shopping during Labor Day weekend, what are you planning to buy? (select all that apply); (19) Do you plan on working a side hustle this summer to cover expenses?; (20) What are some ways you plan to save extra money this summer? (select all that apply); (21) How do you plan to build your wealth this summer? (select all that apply); and (22) Which summer purchase is worth every penny, in your opinion? (select all that apply). GOBankingRates used PureSpectrum’s survey platform to conduct the poll.

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This article originally appeared on GOBankingRates.com: No Memorial Day Plans? Here’s How Much Money You Will Save