A new year. A clean slate. A night to celebrate new beginnings and hopes of good fortune for the next 12 months and beyond. New Year’s Eve, like other recent holidays, is a time to gather and enjoy the company of friends and family. It’s also similar to other holidays in that it can put a big dent in your budget. Rather than partying like the world is about to end, you might be better off setting financial goals, paying off debt, and trying to save money on New Year’s Eve.
Save Money on a New Year’s Eve Party
Don’t spend hundreds of dollars to spend New Year’s Eve at a crowded restaurant or night club. Throw a party at home and be with the people you actually care about. You’ll have a more intimate experience, avoid the crowded venues and streets, and likely spend much less money.
For food and drink, you can provide a few appetizers and some basic beverage choices, like beer and wine. Also, people always offer to bring something to a party. Ask for another appetizer, dessert, or a beverage of their choosing. This adds more variety to the party, while keeping your own costs down and guests happy.
A lot of people like to throw fancy parties on New Year’s Eve. Gourmet food. Top shelf drinks. Gaudy decorations. Formal attire. By keeping it simple, you can still have a blast and party with the same crowd while spending less money.
Save Money on New Year’s Eve Cocktails
If you want to add your own special touch to the menu, offer a specialty cocktail for the night. The fewer alcoholic ingredients you have, the less you’ll need to spend. Just a few different juices, sodas, herbs, and other elements can make several combinations of flavor without spending a lot of money.
Mocktails are another fun way to save money on New Year’s Eve. When you eliminate the alcohol, you eliminate the most expensive part of the night while keeping the delicious flavors. This is a great option for a family-friendly gathering or just a more light-hearted evening with friends.
Stay Local and Save Money
If you have cabin fever and want to hit the town, save some money by staying local. Bars and restaurants nearby will most likely have some New Year’s Eve specials to enjoy. In this case, it will pay to do some research so you know where to go and what you can get for your money. Staying local will also save money on travel expenses whether it’s on gas for the car or public transportation fares.
Don’t forget to think about your financial goals for the upcoming year. Whether you’re paying off debt, building an emergency fund, or saving up for a large purchase, the New Year is a great time to evaluate your finances and plan for the future.
No matter where you find yourself this New Year’s Eve, stay safe and stay on budget!
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