The best ways to plan an affordable party, according to experts

When it’s the height of the holidays, parties can punctuate the significance of the moment - but they can also hammer your monthly budget.

Thankfully, throwing an affordable party is possible if you’re intentional about what you want the party to accomplish. You don’t need a big budget to make big memories, said Lee Gimpel, president of meeting facilitator and event strategist Better Meetings.

“People often get wrapped up in the metaphoric sizzle of a party and forget about the steak,” Gimpel told The Independent via email. “They’ll rent an expensive venue in an exclusive zip code, offer an open bar, serve lots of food, and invest heavily in decorations. But at the end of the day, what people remember is how they felt and whether they actually enjoyed themselves.”

The Independent spoke with event planners and personal finance experts to find four tips for how you can host a smashing soiree without smashing your budget this holiday season.

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Hosts often feel pressure to provide liquor, beer, wine and all the food for their parties. However, that’s a rigid rule, said Alexander Ketter, a savings expert and U.S. managing director at Coupons.com.

Asking your attendees to bring food and drink can save money and give guests with dietary restrictions the chance to provide food that meets their needs.

“You provide the location, your guests provide the rest,” Ketter told The Independent in an email. “It may sound cheap, but you’ll be surprised at how many people will just be happy to have somewhere to go. On top of that, you don’t need to worry about catering for lots of different dietary requirements, and guests won’t feel self-conscious about bringing exactly what they want to eat (and drink).”

If you’re uncomfortable relying on your attendees to bring all the gnosh and libations, you can always provide the main course and seminal spirit for the event. For example, your invitation can note that you’ll provide the main protein and vodka for the bar.

“People often think that you need to provide a wide variety and quantity of liquor for a party; not true,” he said. “Instead, you can tell guests that you’ll offer one type of drink … and if they want something in particular, to bring it. Most people are not only happy to do this - they’ll embrace it.”

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Taking responsibility for the main dish is an especially good idea if you’re known for a particular recipe that your attendees love, said Shumaila Panhwar, founder of SoCal Event Planners.

“As the host, you can take charge of the larger main dishes and showstoppers for the night - think turkey or steak or that famous dessert you're known for - but leave the smaller appetizers or side dishes to guests that want to help and participate,” she told The Independent by email.

Decorations can elevate a party’s vibe. If your get-together is based on a specific holiday, stocking up on decorations ahead of time by searching out sales and season-ending discounts can cut down on your overall spend, said Claudia Fanini, founder of The Italian Planners, an event and travel management agency based in Milan.

“Stock up on beautiful decorations during post-holiday sales and save them for next year’s celebration,” Fanini told The Independent in an email.

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For parties that aren’t linked to a particular holiday, ingenuity - or social media posts - can save you a few dollars on decorations.

“You can also create charming decor using creativity: think jars turned into candle holders, vases filled with ornaments, or leftover ribbons tied around napkins. Pinterest is your best friend for stylish, budget-friendly DIY inspiration,” she said.

When you think back on the most memorable parties you’ve attended, consider what made them special. Was it the conversations you had and the vibe you felt, or was it the monogrammed napkins?

Spending money on small details that partygoers may not notice - we’re looking at you, monogramed napkins - is a common trip-up for party hosts, Panhwar said.

“Guests are there for the get-together, the food, the company, and the fun,” she said. “They're not going to remember monogrammed napkins, over-the-top ice sculptures, or customized signage. They will remember the vibes and the food!”

If you like small details and recoil at the thought of a monogram ban, adding small touches that enhance how inviting the party is can be a big win for partygoers.

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“Guests remember how welcoming the event felt, not how much you spent,” Panhwar said. “Focus on creating a warm, inviting atmosphere, good food, and thoughtful touches - and no one will ever question what you didn't splurge on.”

Hosting a gala at your home or a rented venue takes strategy, timing and a methodical approach to ensure things are done well. Another advantage to starting your planning early? You avoid frantic last-second purchases driven by stress instead of selectivity, Panhwar said.

“So many times, you run into ‘panic’ mode right before the party and overbuy food, drinks, decor, and more,” she said. “If you plan ahead and thoughtfully map out needs, you can buy items as needed. … Your future self will thank you.”

Planning ahead will help alleviate day-of anxiety, too; you don’t want your guests suffering from second-hand stress.

“Prep…yourself; this is one that always gets forgotten,” Panhwar said. “You've styled your home, ordered or cooked amazing food, but you didn't think about you. Make sure you already have your outfit picked out, ironed, and placed out with matching jewelry so [that], the day of, you can step away for a quick moment and be ready! A relaxed host is a fun host.”