Holiday Feast on the Cheap

Dec. 20, 2008 — -- In a sluggish economy, many family cooks are cutting back on their grocery lists this year to save some dough. But when it comes to the big holiday feast, there are some items worth skimping on, while others are a must.

Today on "Good Morning America," Maile Carpenter, editor-in-chief of Food Network Magazine, shared a few tips on how to save cash while spreading the holiday cheer.

"You don't have to give up all the good stuff," Carpenter said. "Cut back a little on wine, a little on the food and a little on the decor."

To cut back on wine, Carpenter suggested heading for the much cheaper boxed wine.

"The secret is you just have to hide the evidence," Carpenter said. Rather than leaving it in the box, she suggested pouring the wine into a vase and presenting that with your meal. "No one will know," she said.

According to Carpenter, the biggest mistake people make when shopping for their holiday meals is grabbing the pre-made items.

"It's expensive and it goes like that," she said. Rather, take some time to prepare things for less.

One thing not to skimp on, she said, are the holiday staples.

"Never give up on the turkey or the ham," Carpenter said. "That's what makes a holiday meal."

To save, she suggests just getting a smaller turkey or ham.

"No one wants leftover turkey anyway," she said.