How To Save Money on New Year's Eve

Ringing in the New Year doesn’t have to be expensive. With these tips, you’ll still have a good time while preserving a few bucks in the piggy bank.

After Christmas is done the celebration isn’t over just yet. But as everyone knows, a New Year’s Eve party or outing can be quite costly. Here, check out some suggestions for clinking the glasses at a low cost.

Host a Party

Hosting a New Year’s Eve party has many benefits – there’s no need to have to wait in long line-ups, stand in outdoor crowds and, most of all, the best benefit is saving some money. Have each guest bring a bottle of wine or a case of beer, which doesn’t leave the drink bill on the host. If the host wants to provide the food, small dishes like cheese and crackers are recommended; that way, food won’t be wasted.

Now add a twist to the home party: Have everyone dress up in a costume according to a theme, do a gift swap of items you received but have no use for, or just clear some furniture and dance.

Skip the Bar

Maybe a group has decided to go to a concert, club or restaurant. If a bunch of friends want to go to a bar for an after-party, offer the home as the place to go instead. In the end, money will be saved on admission fees as well as drinks.

Do the Research

Check out the newspapers, web and street ads for club or restaurant deals. Some restaurants may charge a flat fee that covers an appetizer, entree, dessert and drinks; clubs may offer free access to other bashes or two-for-one tickets.

Keep the Kids Indoors

If parents find that their teens want to head out on New Year’s Eve, they can offer to open their home for a sleepover. This isn’t just more economical, it can keep teens from getting into trouble as well as having parents pick them up late at night at a party. Items that’ll keep teens having fun all night include:

  • Board games
  • At-home makeovers, pedicures and manicures
  • A junk food fest (have each guest bring their favourite junk food)
  • Reading a pile of magazines
  • Teen DVDs such as Twilight, Super Bad, 10 Things I Hate About You, Clueless and 13 Going on 30

Overall, celebrating the New Year doesn’t have to be expensive. Hosting a party in the house, skipping the late-night bars, looking for two-for-one deals and keeping the kids indoors are just a few ways to keep cash in the wallet. Most of all, be safe – if a friend is drinking and needs a cab ride home, don’t save money by not taking care of him or her. Instead, offer to drive them home or cover the cab ride.