by Natalia Jones

Created on: November 10, 2009   Last Updated: November 27, 2009

If the thought of a New Year's party on a budget has you imagining cheap looking streamers and watered down wine, you can throw those ideas out the window. Entertaining friends and family for New Year's doesn't have to cost you a fortune. On the contrary, there are ways to throw an unforgettable New Year's party without breaking your piggy bank.

Check out the tips below before you throw your New Year's party.

Keep the Menu Simple and Save

New Year's festivities start late because everyone wants to be together to sing Auld Lang Syne at the stroke of midnight. You can use this to your advantage because when the party starts that late nobody expects a full dinner. Choose a few hors d'oeuvres that you can make well and then estimate that each person will have one or two of each. Meatballs in tomato sauce, chicken kebabs, spiced nuts and bruschetta are a few easy but great tasting savory bites. You might want to offer something sweet as well. Think fruit dipped in chocolate or mini brownies.

Control the Cost of Drinks

When you think of New Year's you may be thinking of champagne but your budget might not be able to fund the cost of guzzling the bubbly all night long. Instead of nervously circling the champagne stock, opt for serving a couple signature cocktails instead and source a great tasting sparkling wine for toasting in the New Year.

You may have a signature cocktail already, but if you are not an expert in the drinks department test out a couple recipes before hand. Once you have settled on a drink do your shopping in advance so you can take advantage of sales and probably buy in bulk if your quantities allow.

Don't forget to ensure you have the right type of glassware to serve your drink. If you're going to serve something, try to serve it to perfection and your guests will be wowed by the effort.

Make the House Sparkle on a Budget

The first step is to clean the house from top to bottom. Pay attention to detail and your home will shine. Your home is probably already decorated for Christmas so you can use these decorations and pump them up with candles and ribbon. You can use your Christmas wreath as a centerpiece for your table and you may be able to move other festive items around to give the house a fresh look.

Try to use colors that enhance your current decorating instead of going completely seasonal as the effect may be jarring instead of inviting if it doesn't mesh well with your regular furniture and accessories.

Don't neglect the sense of smell. When guest walk into your home they should be pleased by what they smell. Cinnamon is a popular scent for the holidays but don't over do it because it can be an overpowering smell.

Entertaining for New Years is always exciting, but it can be a stress filled experience if you are unprepared. Planning and organization are key especially if you are working on a tight budget, because you may be tempted to panic spend if things aren't turning out well at the last minute. Think ahead and you can avoid the pressure and have a great time playing hostess without spending more than you can reasonably afford.

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