- Date : 31/12/2019
- Read: 5 mins
This New Year’s Eve, you can pop the champagne and dance the night away with your loved ones without having to go financially overboard.
Ringing in the New Year along with your loved ones while singing, dancing, and having a gala time is the best way to start the new decade. If you wish to be financially prudent, hosting a New Year’s Eve party at home rather than going clubbing is a wise decision.
When you’re hosting a party, you want to have the best of everything for your loved ones. The best food, a wide range of spirits, aesthetic party décor and favours, and fun party games. The sentiment is only natural, and so is the staggering cost of it all.
You don’t want to throw one epic party and then be unable to host another for a whole year because you broke the bank! Anything that you can’t financially afford to do twice a year is not a wise decision to begin with. So, does this mean you can’t throw a party – or worse, be forced to settle for boring food and decorations?
Of course not! It’s entirely possible to throw a great NYE party on a budget. You only have to be a little strategic and practical in your approach. Here are some tips to help you along.
1. Set your priorities for the party
Before you even draw up a guest list, it’s essential to determine a theme for your new year party. This will help you get your priorities straight and focus on things that are important for the occasion. If you want it to be a casual gathering of close friends, you need to focus only on the food and drinks.
However, if you want a themed party, say Starry Night, you will have to take care of the decor. So you may need to invest in silver, blue, and white balloons, LED fairy lights, and more. This way, you won’t be unnecessarily spending money on irrelevant things; only on those that are central to your party.
2. Decide on the budget
It’s natural to keep increasing the budget for a party while you’re planning it, and suddenly realise that the costs are way more than what you anticipated. For instance, if your NYE party theme is ‘disco night’, you absolutely must get a disco ball, but that would mean increasing your budget by Rs 6000. If you set a maximum budget before you begin planning, you won’t get carried away.
3. Rope in friends and family
While you’re the one hosting the party, it’s all right to collaborate with your friends and family. It will not just help reduce the financial burden but will also relieve you of the stress of doing everything single-handedly. If you can persuade three of your best friends to split the costs, nobody will need to feel the pinch of spending more than they intended to.
4. Select guests carefully
‘The more the merrier’ is only true when everyone knows each other and genuinely enjoys each other’s company. Inviting people you haven’t spoken to in months may not be the ideal way to make your NYE party a success. Also, with a large number of guests, chances are that people will form smaller groups and isolate themselves. To keep things fun for everyone, be mindful of your guest list. This way, your list of invitees will naturally narrow down and so will your budget!
5. Make it a pot luck
You wouldn’t want to compromise on the quantity or quality of the food you offer, but you would also not want to overshoot your budget. The best way out? Make it a pot luck! Not only is this a financially smart move, it also brings a lot of different and delicious options to the table. Everyone can bring their favourite dish, and you’ll find most people are happy to contribute.
6. Repurpose old decor
Unless you’re going for a specific new year party theme, decorations from previous celebrations like Christmas and Diwali can come to your rescue. Look up easy party decoration ideas using fairy lights and glass bottles, balloons, streamers, and candles. This is one aspect of the party that you really don’t need to spend a single rupee on. Also, more than the decor, it’s the music that makes a party happening. Create a playlist beforehand and borrow a good stereo set if you don’t have one.
7. Request guests to contribute
On New Year’s Eve, alcohol may eat up a bigger chunk of your party budget than food. But the Indian tradition of not going to anyone’s house empty-handed, especially on festive occasions, can work in your favour. Let your guests know that gifts are unnecessary, but if they do want to get something, a six-pack of their favourite beer or a bottle of wine would be great.
Excited about planning your NYE party? Money need not come in the way of your excitement. All it takes is a little financial planning and budgeting to make your party a grand success!