The holiday season is a time for joy, celebration, and connection between family and friends. However, hosting holiday gatherings can also be a time of financial stress for some.
A LendingTree survey found that 60 percent of Americans interested in hosting holiday parties expect to spend $556 on their celebrations. In contrast, six-figure earners intend to spend $764 most, followed by those making $75,000 to $99,999 a year ($742), parents with young children ($735), and millennials ($730).
Where does this money go? Most of it is going to food and beverages (84 percent), indoor decor (46 percent), and outdoor decorations (29 percent).
The good news? You don’t have to break the bank to host a memorable holiday party. With a bit of creativity and planning, you can host a festive gathering that will leave your guests feeling merry and bright.
Here’s how to host a stylish, budget-friendly holiday party.
1. Make a Budget and Plan Ahead
The first step to hosting a cost-effective holiday party is to determine your budget. Consider how much you can comfortably spend on food, decorations, and other essentials.Most importantly, once you’ve set a limit, stick to it. Additionally, if you plan ahead, you can compare prices and avoid last-minute shopping sprees.
Pro Tip: You can track expenses as you prepare using a spreadsheet, budget planner, or budgeting app like YNAB or 1Money. As a result, your limits will remain within your reach.
2. Keep the Guest List Manageable
You may be tempted to invite everyone you know. But, obviously, limiting your guest list can help you reduce costs. Keep the guest list small by inviting close friends and family who will appreciate the intimacy.As an added perk, having a smaller group of guests makes creating a warm, welcoming atmosphere easier.
Pro Tip: If you don’t want to leave anyone out, you might also want to host an open house-style event where guests can stop by for a short while.
3. Send Digital Invitations
In addition to the cards themselves, printing, postage, and delivery costs can be very high—especially for large events. Furthermore, printing, addressing envelopes, and mailing invitations can be time-consuming and costly. I never do a hard copy invite—never-ever. I thought I’d be super formal one year—and most people didn’t even go to their mailbox. And half the time, I just do a digital flyer and email it, which works great.There are great choices in inexpensive and free digital invites. You can customize stunning templates with websites like Evite, Canva, and Paperless Post. Because the invitations are delivered instantly, guests can RSVP online, which makes it easy to stay on top of responses.
Also, digital invitations are not only budget-friendly but also eco-friendly.
Pro Tip: Keep your invitation simple and avoid overcrowding it with text or images. The design should also be simple and focus on key information. I’ve found that the less information on the invitation, the faster you get a reply.
4. Host at Home
Renting a venue can be very expensive. However, hosting the party at your home is free and more personal. Do not worry about perfecting everything; just rearrange furniture to create an inviting space. Setting the scene in a clean, comfortable environment is the key to a great time.Pro Tip: If your space is limited, consider hosting with a friend or family member with a larger home. Sometimes, I borrow chairs from everyone in my condo and put them all around the room. People eat from their laps, and I have a drink station where people can stand around and drink. Just have a party no matter where you are and no matter what your living arrangements are. People come; if they are a little cramped, I haven’t found a problem with this. They keep coming, so it must be okay!
5. Organize a Potluck
Food is often a party’s biggest expense. As such, a potluck-style event is a great way to lower costs and involve your guests. Guests can bring their favorite dishes, such as appetizers, mains, sides, and desserts, or you can assign them different dishes.Pro Tip: Create a sign-up sheet to avoid duplicate dishes and ensure a balanced spread. Sometimes, I assign people a dish to bring and still call it a potluck. For example, “Would you bring a salad for 10? Would you bring soup for 10? Would you bring a dessert for 10?” We seem to get many more people and a wider variety of food this way.
6. Serve Affordable Beverages
The cost of alcohol can quickly add up at parties. Rather than offering a full bar, serve alcoholic beverages such as spiked ciders, punches, sparkling water, sodas, and homemade hot chocolate alongside non-alcoholic options.Pro Tip: You can buy beverages in bulk at warehouse stores like Costco or ask guests to bring their favorite drinks. Nowadays, most people are familiar with the concept of BYOD (bring your own drink).
7. DIY Your Decorations
You don’t have to buy holiday decorations from a high-end store. You can either use what you have or make your own. A festive atmosphere requires only a few candles, string lights, and natural elements like pinecones, branches, and cranberries. At least for the December holidays, most people already have decorations out, and they work fine for New Year’s.DIY ideas:
- With popcorn and cranberries, make a garland.
- Candle holders can be made from mason jars by filling them with small ornaments or fairy lights.
- Recycled paper can be used to fold origami ornaments.
8. Focus on Simple, Crowd-Pleasing Food
Consider easy-to-make, affordable dishes that can feed a crowd. Many budget-friendly and satisfying options are available, such as pasta bakes, soups, and DIY taco bars. To serve appetizers, opt for simple items like vegetable platters, chips, dips, or bruschetta.Pro Tip: To reduce stress on party day, prepare as much as possible beforehand. I rarely serve appetizers anymore because they are a pain in the backside—unless the whole party is only appetizer-type foods, in which case I assign these out in the same potluck-type style. Maybe I should do an easy appetizer post—I have some good (easy) ones.
9. Entertainment on a Dime
You don’t need a DJ or band to keep your guests entertained. Instead, create a holiday playlist on Spotify or YouTube and let the music set the mood. There are also budget-friendly entertainment options, such as:- Hosting a holiday trivia contest.
- Setting up a cookie decorating station.
- Enjoying a classic holiday movie.
10. Opt out of Giving Party Favors
It is nice to have party favors, but they are not necessary. If you decide to provide them, ensure they are simple and inexpensive. Consider homemade cookies, jam jars, or ornaments as thoughtful yet affordable gifts.Pro Tip: You can use party favors as decorations by placing small ornaments at each place setting. But, seriously, if you are on a budget—skip the party favors; most are left sitting there in the end.
11. Use What You Have
Taking stock of what you already own before buying anything new is a good idea. You most likely already have serving dishes and table linens that can be reused for your party. If you need items, borrow them from friends or family.Pro Tip: For bigger parties, you can rent items like glassware, tables, and linens through companies like Party Rental Ltd. These are not inexpensive, but if your time is short, renting helps.
12. Go Green and Save
Some say you can save money by being eco-conscious, for example, by not using disposable dishes or utensils. But you use a lot of water and dish soap to wash dishes and linens. Yes, it costs more for disposable, but it’s fast and easy, and you know it’s clean.Pro Tip: For smaller parties, I might use my holiday plates, glasses, and linens and wash them. But if I’m having a party, I want fast, easy, and disposable so I can enjoy the guests.
13. Accept Help Graciously
When friends or family offer to help, take them up on their offer! Shared responsibilities can reduce your workload, whether it’s helping set up, helping clean up, or bringing a dish.14. Set the Mood With Ambiance
You don’t have to spend a lot of money on ambiance. To create a cozy, festive atmosphere, dim the lights, light candles, and play soft holiday music. A warm, welcoming atmosphere is often more memorable than expensive decorations.15. Enjoy the Moment
Ultimately, your guests are there to spend time with you, not criticize your party budget. Keep your focus on having fun, laughing, and creating memories with your friends. In order for a gathering to run smoothly, the host must be relaxed and happy.Conclusion
The key to planning a budget-friendly holiday party is to be creative and thoughtful. With the right food, good company, and a warm atmosphere, you can create a celebration your guests will remember fondly without going broke. So, take advantage of the joy of simplicity and the magic of togetherness this holiday season.By Deanna Ritchie
The views and opinions expressed are those of the authors. They are meant for general informational purposes only and should not be construed or interpreted as a recommendation or solicitation. The Epoch Times does not provide investment, tax, legal, financial planning, estate planning, or any other personal finance advice. The Epoch Times holds no liability for the accuracy or timeliness of the information provided.
