Personal Finance

10 ways to save on your New Year's celebration

New Year's Eve doesn't have to cost over $100. We count down the ways to keep costs down, without coming off as too cheap.

10 ways to save on your New Year's celebration
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We're counting down to 2024. But don’t let your New Year’s Eve party plans set you back financially because all the food, beverage and party favors add up fast. 

"Unless you're traveling," Christie Matherne, editor at WalletHub, said, "odds are you haven't factored New Year's Eve costs."

So she helped us count down the best ways to save on your party:

10: "Make a budget," she said. 

9:  Avoid adding credit card debt. She says buy only what you can pay for that month. If you're having a house party, Matherne says there are many ways to save.

8: She says the best way to lower the party cost: "Start the party later." That means skipping a full meal and offering snacks instead. 

7: "Think about sharing the load with a potluck and having everyone bring something. Of course, toasting in the New Year is one of the top costs.

6: Micah Dennison, manager of The Party Source, is preparing for their biggest weekend of the year. Dennison says you don’t need to buy expensive French champagne or even a pricey bottle of American bubbly, which can cost $50 or more. He suggests you consider cheaper bubbly, like Cava from Spain or Prosecco from Italy.

"Those are much more affordable. You are talking about a fraction of the cost," he said.

Then, combine that with having guests bring drinks.

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5: "You can make the party BYOB before midnight," Matherne said.

And for decorations, don't buy streamers and individual hats and horns.

4: Buy a countdown kit from a party store.

"It comes with the hats, tiaras and noisemakers," Dennison said of their kits, and comes to just $1 per person.

Remember, he says, you'll only use these decorations once. 

3: Get creative with do-it-yourself decor.

And if you want to go out?

2: Skip ticketed events and check the community calendar instead.

Still planning to shop?

1: Don't wait till Sunday, or the best deals may be gone.

"This is our busiest time of year," Dennison said. "The best deals could sell out."