Pumpkin pie does not need a complicated crust, specialty spices, or a grocery bill that makes you stare at the receipt in the parking lot. This pumpkin pie uses one can of pumpkin, evaporated milk, eggs, sugar, and spices you can find at any regular supermarket. It makes eight slices and cost me about $7.40 when I priced it from a Kroger trip in Columbus, Ohio. That works out to roughly 93 cents per slice before adding whipped topping.
If you are new to baking, this is a good first pie because the filling is mixed in one bowl and small cracks on top do not ruin anything. I have made prettier desserts that tasted worse. The goal here is a steady, gently spiced pumpkin pie with a crust that holds together and a filling that slices cleanly after cooling.
The cheapest useful shopping list
You need one 15-ounce can of plain pumpkin puree, not pumpkin pie filling. The filling version already contains sugar and spices, so adding the ingredients below would make the pie too sweet and salty. My store-brand pumpkin was $1.49. A store-brand refrigerated pie crust was $2.29 for a package with two crusts, which means you can freeze the second one or make another dessert later.
The rest of the list is one 12-ounce can of evaporated milk, two large eggs, three-quarters of a cup of white sugar, one teaspoon of cinnamon, half a teaspoon of ground ginger, one-quarter teaspoon of ground cloves, and half a teaspoon of salt. The milk cost $1.59, the eggs were about 60 cents, and the sugar and spices came from containers already in my cupboard. If you buy every spice at once, your checkout total will be higher, but you will have enough for several more batches.
For the pie itself, the ingredients I used came to about $7.40. A frozen pie is often cheaper, but it rarely gives you eight decent portions for that price. Price it out, then tell me it does not work.

How to make pumpkin pie without guessing
Heat your oven to 425 degrees Fahrenheit. Put the refrigerated crust into a 9-inch pie plate, pressing it gently into the corners. Fold any extra edge under itself and pinch it with your fingers, or leave it plain. Nobody is grading the rim. Place the crust on a baking sheet; this catches bubbling filling and makes moving the pie much less stressful.
In a large bowl, whisk the eggs first. Add the pumpkin, sugar, cinnamon, ginger, cloves, and salt. Stir until the mixture looks even, then slowly whisk in the evaporated milk. Pour the filling into the crust. It will look very full, which is fine as long as you are using a standard 9-inch plate.
Bake at 425 degrees for 15 minutes. Then lower the oven to 350 degrees without opening the door and bake for another 40 to 50 minutes. Start checking at 40 minutes. The center should wobble slightly when you nudge the baking sheet, but it should not look liquid. A knife inserted near the edge will come out mostly clean; do not stab the exact center unless you want a visible cut.
Cool the pumpkin pie on a rack for at least two hours before slicing. The filling finishes setting as it cools. I know that feels unreasonable when the kitchen smells like cinnamon, but cutting early gives you pumpkin pudding on a plate instead of neat slices.
What usually goes wrong
The most common problem is a wet bottom crust. Putting the pie plate on a preheated metal baking sheet helps the bottom receive more heat. A glass plate works too, but it can take a little longer to brown. Do not pour hot filling into a frozen crust and expect the timing to stay identical; let the crust thaw according to its package directions.
A cracked surface usually means the pie baked a little too long or cooled too quickly. It is still completely edible. Cover the crack with whipped cream, or call it homemade and move on. If the whole pie is loose after cooling, it needed more oven time. Put individual slices in the refrigerator rather than trying to rebake the entire cooled pie, because reheating can make the crust tough.
If the flavor tastes flat, check the salt and spices before buying anything new. Pumpkin is mild, and a quarter teaspoon of salt makes the sugar and cinnamon taste clearer. If your household dislikes cloves, leave them out and add another quarter teaspoon of cinnamon instead.

How this compares with making your own crust
A homemade crust can save money if you already have flour, shortening or butter, salt, and ice water. My basic version uses 1 1/4 cups flour, 1/2 teaspoon salt, 1/2 cup cold shortening, and four to five tablespoons of ice water. It costs around 80 cents from pantry ingredients, compared with $2.29 for the refrigerated crust. The tradeoff is time and practice.
For a first pumpkin pie, I would buy the refrigerated crust and learn the filling. That is not laziness; it is choosing the part where a beginner is most likely to succeed. Once you know how the filling should look and feel, make the crust next time. A scratch crust that shrinks or tears is not a personal failure, just information for the next attempt.
You can also use leftover filling in small oven-safe cups. Pour it into greased ramekins and bake at 350 degrees until the centers barely wobble, usually 25 to 35 minutes. There is no crust, but it is a useful way to avoid wasting two cups of filling when your pie plate is smaller than expected.
Serving, storing, and stretching the leftovers
Pumpkin pie is best chilled or at cool room temperature. Keep leftovers covered in the refrigerator and use them within about four days. Do not leave the whole pie on the counter overnight because the filling contains eggs and milk. A can of whipped topping usually costs $2 to $3, but you can skip it. The pie has enough flavor without a topping.
To stretch eight slices into more servings, cut thinner wedges and serve each with coffee, tea, or a spoonful of plain yogurt. I would not pretend that yogurt turns it into a different dessert, but it adds a little tang and uses something many people already have. Crushed graham crackers on top can add crunch if the crust turned out soft.
You can freeze individual slices after they cool completely. Wrap each slice in plastic wrap and place the wrapped pieces in a freezer bag. Thaw them overnight in the refrigerator. The crust will be slightly less crisp, but the filling holds up well for a quick dessert later.
The simple plan I would use
Buy store-brand pumpkin and evaporated milk, use a refrigerated crust, and do not spend $12 on a premixed spice blend. Mix the filling carefully, bake it on a sheet pan, and wait for it to cool before judging the result. That is the whole plan.
If the first pumpkin pie has a crack, a pale edge, or a crust that is not bakery-perfect, serve it anyway. You still made eight portions from ordinary ingredients for less than a dollar each. Next time, you can adjust the bake time or try a homemade crust. The important part is that the method gives you a reliable dessert without requiring a special kitchen, expensive equipment, or confidence you do not have yet.