Frugal Ways To Ring In the New Year

The start of a new year brings hope, excitement and, for some, dread at the high cost of a big blowout New Year’s bash. Following on the heels of over-generous gift-giving, many budgets are way behind when December 31st rolls around.

Planning ahead takes the sting out of expensive merry-making. First of all, decide if you want to hit the town or stay in. Do you want to mingle with a boisterous crowd during the countdown, or are you imagining a more intimate evening? There are many cost-cutting options for both choices.

Ideas for Hosting a Themed Evening for a Small Group

A Swap Party

If you decide to stay home, try a clothing swap with a bunch of friends. Start the New Year with a new-to-you wardrobe that won’t cost a penny. You could set a theme like office attire, beach clothes, purses and accessories or evening clothes. Guys can get in on the action with a tool or video game. (Here is a list of other swap party themes to consider.) Provide background music, beverages and plenty of snacks to make it a memorable night.

A Spa Night

Turn your home into a spa and invite your closest friends. Plan a night of pampering with facials, massages, foot soaks, pedicures and manicures. This could turn into a monthly ritual, meeting at different houses each time.

Game Night

Host a gaming party. Whoever scored a new gaming system over the holidays can show it off. Or banish boredom with traditional board games like Life, Monopoly, Scrabble or some of the updated versions.

A Fondue Party

Fondue parties are a fun way to feast in the New Year. You can rent fondue equipment or create your own with nesting saucepans. The larger pot is filled with water and kept at a soft boil, while the smaller saucepan sits suspended over the water, not in it, to keep the sauce at an even temperature. Try melting cheeses, spicy BBQ, sweet and sour sauce, and of course, chocolate. Use your imagination for items to dip: cut-up fruit, cooked and cubed meats, veggies, cookies or crackers.

A Sleepover

Invite a few good friends, throw a bunch of airbeds on the floor with plenty of sleeping bags, pillows and blankets and relive the good old days. Have everyone bring their old yearbooks, videos, CDs (or albums or cassette tapes) for a shared trip down memory lane. You could even stream movies from that time period and marvel at how young the actors look.

Movie Night

You could indulge in a whole season of Grey’s Anatomy, watch six episodes of Star Trek, or make a dent in the many sequels of Halloween. Or pick a theme like comedy night or action/adventure. You could also let guests bring their favorite movies and really get an insight into their character.

An Evening In for Two

Plan a romantic evening for just the two of you. Candles, flowers, music and a little lacy lingerie are classic. Not only is it easy on your budget, but it can also start the year with fireworks.

Tips for Hosting a New Year’s Eve Bash for Less Cash

If you want to host a traditional party, start the party fashionably late. Guests won’t have to wait all night for the ball to drop on Times Square — and you won’t have to provide hours of drinks and food.

Keep your guest list manageable and provide chairs or seating for everyone. Even if you serve snacks and drinks buffet style, arrange groups of chairs and sofas for comfortable seating groups. You can rent attractive covers for folding chairs for a more uniform look, or keep it casual with your dining chairs mixed in with the patio furniture.

Consider making it a potluck event. Guests can bring their favorite dishes, you won’t be overwhelmed, and your budget won’t take a nosedive. Assign teens the washing up so everyone can take their dishes home at the end of the evening. (It helps to bribe them.) You could even make it a dessert-only potluck for extra indulgence.

If the evening centers on drinking, always provide non-alcoholic beverages as well and a plan to get guests home safely. No one wants to start the New Year with a tragedy.

Tips for Saving on an Evening Out

Going out on the town shouldn’t mean going into debt. If you pick a fancy restaurant and think the prices are a misprint, stick with appetizers or desserts. Another option is splitting a dinner or skipping expensive drinks.

Going clubbing should also involve a plan to get home. Even though your ride won’t turn into a pumpkin at the stroke of midnight, it’s best to plan ahead. Save money by sipping water or soda between drinks.

Whether you go out, stay in or throw your own party, New Year’s Eve is a great night to celebrate. Rein in your spending and you will truly enjoy ringing in the New Year.

Related:

• The One Resolution Almost Everyone Should Have This Year
• Resolve To Stash More Cash This Year
• Reduce Grocery Costs This Year: 9 Underutilized Tools To Try

Reviewed December 2024

About the Author

Shaunna Privratsky became an expert in personal finance out of necessity. Between writing, reading and gardening, she is always on the lookout for bargains. Visit her at The Discount Diva.