by Andrea Coventry

Created on: February 22, 2009

Holiday tradition dictates that we should eat, drink, and be merry. But all of those cocktails can end up costing more than your spread of food. Here are some ways to cut back on the cost.

BYOB : Obviously the cheapest method is to insist on a BYOB. Everyone can be responsible for bringing his or her own beer, wine, or liquor. In fact, common etiquette amongst my friends and acquaintances dictates that one always arrives at a soiree toting a bottle of wine.

The advantage is that you don't have to worry about providing drinks for everyone, outside of the obligatory punch and soda. Everyone is happy because he already has precisely what he wants to drink. There is an opportunity to try something new. If everyone brings a bottle of wine or a six-pack to share, there is usually enough to go around. You may even luck out and get some leftovers.

The disadvantage is someone frequently forgets to bring her own. And often there is that sneaky soul who steals from another's stash. It's also easy to run out of storage space.

A good host will often have something else on hand as a back-up.

Variety Packs and Multi-Packs : During the holiday season, many breweries offer up sampler packs. Buy a couple of these to offer up a variety of beer tastes without spending a fortune on a bunch of six-packs.

Try to buy multi-packs, as buying in bulk is always cheaper. Some brands of beer are available in jugs. You could also kick it college-style and get a keg!

Cans of beer are always cheaper than bottles, though it is much more elegant (and tastes better, too) coming out of a bottle. You can save yourself by serving canned beer in pub-style glasses.

Buy Local : Save money by buying local brands of beer or wine. For example, New York is as famous for its local breweries as well as its wine trails. Many tasty versions of local creations are cheaper because less transportation is required for distribution.

Bargain Bins and Cases : Next time you are in your local liquor store, check out the Bargain Bin of Wine. Locally, you will find a variety of wines for prices as low as $3.99. Many stores also have a deal where the more bottles you buy, the cheaper each bottle. Most of these cheaper versions taste as good as, if not better than, their more expensive counterparts. Only the real wine connoisseurs can tell the difference. Many stores also offer a case discount. Fill up a box with twelve bottles and get a percentage off. Check each store's specific guidelines to see if the case must be all the same bottle, or if you can mix and match.

Buy Off-Brands : You don't have to keep all of those top-shelf liquors, like Baileys and Absolut, on hand for mixed drinks. Many of these name brand companies also make a cheaper version under a different name and they taste just as good. The workers at your local liquor store can help you sift through the names.

Many other off-brands exist. Some are as strong as and taste as good as the top shelf brands. Other cheaper versions, such as Colonial Club, are cheaper because they are watered down versions with a lower alcohol content. This could be to your advantage as your guests won't get intoxicated as quickly. However, those looking for a buzz may drink twice as much.

Join the Club : Some liquor stores offer frequent shopper programs and discount cards, similar to those in grocery stores. Inquire about these programs and sign up for the free programs to save yourself even more.

With a little innovation and a bit of planning, you can make your cocktail party more economical.

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