I'll freely admit that I am a single man and thanksgiving, for me, is more about the meal than anything else. Every year I promise myself I'm going to stick to my budget, but the legitimate excuse to go all out always gets the better of me. This year my friends and I are approaching the holiday with a put luck theme. Sides, desserts, and the main dish(es) are all just an excuse for us to showcase our skills. I've started collecting coupons online, through stores websites, newspapers and leaflets, and manufacturers coupons. I'm inviting you to share some of your own methods for for saving money while not compromising quality.
Potluck gatherings are always the cheapest way to go. Allow the host to spring for the turkey and everyone else bring sides, desserts and drinks. Also, another thing to consider are deals as grocery stores. For example, a lot of them will offer a free can of frosting or pie shells when you buy corresponding ingredients. This shaves off a bit of the food bill. So far, I have stuck to my budget, which is always a challenge for me as soon as November comes around.
Potlucks are a great idea for allowing everyone to chip in and not leave all the expense to one person. Also, as you said, a good way to get to show off your best creations. What I mainly do to save money on Thanksgiving dinner is to start shopping a little early for non-perishables, so I don't have to buy everything at once. I also hit up the sales. You can usually find some great deals in the couple of weeks before Thanksgiving. Some stores even give a free turkey or greatly reduced price on turkey, with a certain amount of purchases. It's usually about what I'm going to spend anyway, so I try to take advantage of things like that.
To me, Thanksgiving is exactly the right occasion to over-indulge and go a little overboard with food. It only comes around once a year, so why not enjoy it? I'm not saying you have to buy overly priced food and just go absolutely nuts, but I think Thanksgiving is a good time as any to let loose a bit with the budget. At any rate, the best way TO save on Thanksgiving is to get the shopping done early. There are always specials and sales running a few weeks before that bring down the price a good amount. If you wait until a few days before, you'll be paying full price.