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How to Save Money When Throwing a Party

Tips for Saving Money When Throwing a Party

It is not necessary to remind everyone that none of us should be throwing parties while our planet is still in a pandemic and while our country is still subject to social distancing restrictions as prescribed by Public Health. This article, and the advice given, is only to be used when and if it is safe (and of course legal) to have a party again (which we hope will be very soon!).

The bottom line of any blog post focused on hosting a party and watching your finances is the reality that most parties can be expensive. This is especially true when every moment is crafted specifically for social media opportunities like photos and videos etc. There can be a lot of pressure to “go all out” and overextend yourself with a party, in hopes of impressing your guests or with the goal of making a big splash online.

Of course, if you go overboard, you could find yourself struggling to buy too much and spend too much, which could result in an unwise use of credit. To avoid that problem, here are a few helpful tips on how you can save money, and not use credit, when throwing a party. Whether you are throwing a kid’s party, a birthday party, or an event of any type, these are tips to help you keep costs down without ruining the fun.

Have it At Home

Renting out a venue or paying for a meal at a restaurant can get quite expensive. If possible, consider having your party at home. This might not work if you live in a small space or if you are having a larger event, but it is certainly a terrific idea if you can swing it. If you want to do something special or do not want to handle all these arrangements, you can hire a caterer and or an entertainer. It will still likely be cheaper than holding your event somewhere else.

Limit the Guest List

No matter what type of party you are having, a large guest list will mean large costs. When you have more people coming, you will have to buy more food, more drinks, and even possibly need a larger venue. Limiting your guest list to those who you really enjoy being around and those who mean the most to you may be a smart way to keep costs in check.

Hold a Potluck!

Instead of cooking or buying all the food yourself, consider having a potluck. Ask that everyone bring their favorite dish and then you can all enjoy different tastes. If you want, make a “sign up” sheet where everyone can write down (or email in) what they are planning to bring. This way you will not wind up with duplicate items. You can even designate the event a “theme night” with a focus on Mexican or Italian food choices.

Shop at Discount Stores

Discount stores and dollar stores are perfect options for affordable decorations and other party necessities. You can buy balloons, napkins, tablecloths, utensils, and everything else you need at most dollar stores, and you will save a lot of money at the same time.

Do not Go Overboard!

You do not need to have every fancy decoration you have seen online. If you want to make sure that people have something to post on their social feeds at your party, focus on one or two nice decorations that are creative and fun. Remember, the main point of the party is to get everyone together for an enjoyable time, so you do not need to go all out on the décor. By getting creative and making some decorations yourself, you can save money and your party should still look great.

Consider When to Have the Party

If you do not want to extra cost of serving a full meal at your party, consider the timing of it so it falls outside of a regular mealtime. For instance, you can make the start time after dinner and then you will only need to serve drinks and snacks, instead of a more substantial meal-service.

Limit Alcohol Service

One of the best ways to reduce cost on your party is to limit the type of alcohol you serve. You might want to stick to providing just wine and beer. These are not as costly as having a fully stocked bar or several different cocktails. You do not need to shell out for premium drinks either such as aged spirits or vintage wines, for examples. Most people will have no issue with local beers and lower priced wine. The best option may also be to simply following the BYOB (bring your own alcohol) policy. Those who want to drink alcohol can simply bring whatever it is they choose to drink.

If you host a party in your home, you do not have the same legal responsibilities as someone who runs a bar. But if you provide alcohol to others, you could have more legal responsibilities than you thought.

So, if you are hosting a guest who is obviously intoxicated, ensure they do not get behind the wheel of a vehicle when they leave. If necessary, call them an Uber or have another guest drive them home safely. You will avoid legal ramifications and save a life as well.

Make sure you set out water, juice, and soda pop as well so that people will be less likely to overindulge.

Lay Out the Details

If you are worried about people showing up at your party expecting dinner and leaving hungry when they realize you are only serving snacks, let your guests know what type of party you will be having in the invitation. For instance, write “Please join us for snacks, drinks, and good times” on your invitation, so no one will expect a dinner.

Accept Help

Most people will want to help by bringing something to a party once they are invited. If someone asks, “what can I bring?” do not feel pressured to say, “Just bring yourself!” Instead, tell them what would be helpful. Saying “why not bring a bottle of wine?” or “I could really use another dessert” can make your guests feel welcome and reduce your costs.

If your parties (and other purchases) have caused you to slip into a situation where you are in debt and unable to dig yourself out, please consider reaching out to the Insolvency professionals at Farber.  Just click on the FREE CONSULTATION button, below, or give us a call – we are here to listen and to help!