First Person: Saving Money With a Do-It-Yourself New Year

One of the most popular New Year's resolution is to save money, and you can start the new year out right by putting together a cost-conscious do-it-yourself New Year's Eve party. Consider these tips to stretch your budget and help you stick to your resolutions.

Venue

Many people like to throw New Year's parties at restaurants, clubs or other locations outside the home. This allows for a worry-free evening with no cleanup, but can cost a fortune. Instead, throw a party at your own home and invite everyone over to share in the festivities.

Food

The most important aspect of any party is the food. It is tempting to buy ready-made foods, but this is expensive. Make your own appetizers and meals for your New Year's festivities from scratch. It takes more time, but is a lot nicer to your New Year's budget. To further save money, have your guests each bring a fun dish or drink to share.

Decorations

Make your own party decorations for your New Year's bash. If you don't feel creative enough to make decorations, find budget decorations. The local dollar store or discount store is a great place to find cute, inexpensive decorations. Paper streamers, banners, even disposable plates, cups and silverware can be found cheaply at these stores. Then embellish them with your own ideas for a personal touch.

Party Favors

Everyone likes to hand out horns, party hats and confetti at New Year's parties. Make your own party favors to cut down on expenses. Construction paper, glitter and glue and other embellishments can be put together to make hats and noisemakers. If you have a cross-cut paper shredder, you can make your own confetti - just shred construction paper. If you don't have a paper shredder, you can pick one up for around $20 and use it year-round to shred personal documents.

Drinks

It is tempting to buy pre-made drink mixes and expensive alcohol. Consider buying juices, sodas and carbonated additions for your alcohol and make your own punches and drinks. This can save hundreds of dollars, depending on your party size.

Entertainment

Many people like to hire a band or other entertainment for New Year's parties. Have friends come over and sing and play guitar or other instruments. Rent movies for $1 from the local movie rental store or simply watch the New Year's Eve special on your local television station.