Smart Ways to Save Money on Holiday Parties

HolidayParty-Debt

The holidays are cause for celebration, but sometimes it can be a gateway to unwanted debt. We often want to share our joy so much that we shell out cash we may not be able to afford.

Maybe you feel like you’re being cheap or your party won’t be successful, but there are so many ways to avoid debt while still throwing a fantastic celebration. The following three steps are major keys when it comes to being able to save big for the holiday party season:

Budget

The key to making sure you do not go overboard with your party is to set a budget for yourself. This will help you avoid any unexpected debt/ expenses while still making sure you cover all of your bases. You should consider where you will be having the event and will you be serving food? If so, how much? Do you need decorations? All these questions should be taken into account when planning your budget. You should also plan how much of your budget you will use for various portions of your event. This will allow you to make sure you cover all your bases while avoiding going over budget and into debt.

Control

By being frugal with things such as drinks and beverages, you will prevent yourself from wasting your hard-earned money. Serving appetizers instead of full-course meals is not only cost-effective but often a crowd pleaser. It can help you save even more money if your appetizers do not require all the standard utensils and use small plates instead of large ones. You may also consider hosting a potluck so that you are not the only one providing food. The same goes for beverage options. By limiting your guests to a few drinks, you will not have to order a large variety of beverages which may end up going to waste.

Limit

Keep your guest list as small as possible. It is all too easy for us to over invite. By limiting yourself to close family and friends, you are also able to be frugal with how much food and beverages you need. It also enables you to host the party at a smaller venue or even your own home which greatly reduces the cost. In addition to controlling your food amount you should limit yourself to what you order; instead of ordering a small number of random appetizers focus on those which you know your guests will actually like. If you have enough money left in your budget, you can add some fun new appetizers, but don’t risk it if no one will eat it.

Having a joyful holiday celebration doesn’t have to break the bank. It is possible to be money conscious and avoid debt. Being smart with your money and frugal with purchases doesn’t mean you’re being a holiday Grinch! Need help planning your budget? Have more tips on how to cut costs for your event? Feel free to leave a comment for us below!

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