How do you save money when it comes to Thanksgiving? By eating at a relatives instead of hosting? That works too, but if you're hosting Thanksgiving, how do you put on a nice holiday get together without breaking the bank? One of the ways I try to ease the cost is by taking people up on it when they offer to bring something. It's one less thing for me to make, saving both time and money.
Not celebrating the holiday, and opt to be a individual. It's like these holiday are mandated by Law and that people must perform or be punished for not participating. Honestly, if it's going to break one's wallet or purse, then don't bother participating in the celebration. Maybe one can save up for the next holiday or next year instead, and then throw a huge event then! Or, one can simply ask for a pot-luck and provide whatever you can for family and friends.
A pot luck is actually one of the best ideas. When there is usually a big family gathering, we tend to bring our own signature dishes, it really helps and it is so much fun. I would go to organized picnics and parties and it would generally be that same idea. It can get interesting especially when you have friends with different backgrounds and tastes. I end up having tacos and lasanga on my plate for example, and it is easy on your wallet since everyone is pitching in on the occasion.
A pot luck is great, but if the people you invite have no culinary skills, you can also just mention as you invite them that they should bring X or Y thing -- cheese, wine, bread, juices, whatever would usually be on the menu.