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How to Save Money when Hosting a New Year’s Eve Party

We’ve already told you how to save if you’re going out on New Year’s Eve, but lots of people choose to avoid the crowds and invite their closest friends and family members over to their home for a New Year’s party. This can be a great way to ring in the New Year and, experts say, it’s even the cheapest way you can spend New Year’s (aside from just snuggling up with a good book or your favourite movie, of course.) But do you want to make it even cheaper? Then you need to focus on the cost of your alcohol! Believe us, this will by far be the biggest expense and if you don’t watch it, it could spin wildly out of control. Here’s how to avoid that, and cut costs on the bevvies you serve.

Don’t serve a full bar
Yes, wouldn’t it be lovely if you could serve your guests any kind of cocktail they choose whether it’s rum, vodka, tequila, gin, or any other kind of liquor? And wouldn’t it be nice if you could start 2014 with at leastĀ someĀ money? You won’t be able to if you stock a full bar, so don’t. Choose one kind of beer, one kind of white wine, and one kind of red. If your friends don’t like it, tell them to bring their own.

Serve only one drink
Even better than not serving every kind of drink there is available, only serve one! Whip up a huge batch of a very tasty cocktail and serve that. To make it even more festive, make it bubbly and a vibrant colour such as pink or red.

Don’t buy top shelf
Does anyone really do this when they’re throwing a big party? This one is just common sense. If you are buying lots of different kinds of alcohol, buy the cheap kind! And if you’re really that worried that your friends will sneer at the label, put it in a decanter.

Buy discount
Unfortunately, you can’t buy liquor at Costco in Canada like you can in the States, but that doesn’t mean you can’t still look for deals! Is there a deal on 2 cases of beer? Get that kind! Do you get that second bottle of wine at a discount if you buy its pairing? Buy it! Save where you can, whenever you can.

Host BYOB
No, there’s nothing wrong with asking people to bring their own. Write on the invitation that you will be serving delicious food and that you’ll have great entertainment and non-alcoholic beverages. But yes, if they want to get tipsy, they’ll have to do it on their own dime.

Serve non-alcoholic drinks
Even if you’re asking friends to bring their own, you still need to have something for those that won’t be imbibing that evening. Offer juices, water, pop, coffee, tea, and maybe a festive punch. Unfortunately, this is one area where you’ll have to stock up. It’s just the responsible thing to do.

You don’t need to empty your pocketbook to have a great time. Follow these tips, throw a great party, and still save yourself some money!

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