Consumers may be cutting back on the festivities this Thanksgiving.

According to the First Command Financial Behaviors Index, an ongoing study of U.S. consumers aged 25 to 70 with annual household incomes of at least $50,000, 45 percent of middle-class families will reduce Thanksgiving spending because of the recession.

Among their plans, 55% intend to stay closer to home, 50% to dine only with immediate family, 36% to spend less on food and 27% to follow a set budget. Additionally, 23% will go to someone else’s house for dinner, 20% will serve a “pot-luck” dinner, 20% plan to spend less on decorations, 4% will dine out and 3% percent cancel Thanksgiving dinner altogether.

“Plans for a leaner Thanksgiving are yet another indicator that Americans are changing their financial behaviors for the better,” Scott Spiker, CEO of First Command Financial Services, said. “Roughly half of survey respondents say they have embraced frugality as a way of life. Many people will be cutting back on Thanksgiving spending by staying home and dining with immediate family members. The unexpected payoff may be a more intimate holiday focusing less on consumption and more on the historic traditions of expressing gratitude and giving thanks.”