1 Thessalonians 5:18 give thanks in all circumstances; for this is the will of God in Christ Jesus for you.
There’s never a bad time to give thanks to God. In America we set aside a specific day to celebrate what God has done, calling it Thanksgiving, but if it’s the only day of the year that we’re grateful to our Lord, then we’re suffering from a lack of humility.
Whether we’re in good times of prosperity or bad times of suffering and need, we can be thankful because God is good. If we’re lacking something right now it’s not because God is unaware of our need; it’s rather because He has a purpose and we get to be a part of it. He will provide as only He can and we should thank Him everyday for doing so.
The difference between thanksgiving and praise is the purpose behind it. Thanks is given for what God has done, but praise is given for who He is, even when we don’t feel He’s done anything lately. Praise isn’t a response to God’s provision, but a celebration of all that He is and all that we know He can do. Thanksgiving and praise go hand-in-hand and they ought to be on our lips constantly, whether we’re currently receiving blessings or not.