The Best Ways to Save Money on Entertaining During the Holidays

We all love holiday parties, but hosting them can be a serious drain on one's budget. Here are my favorite ways to save costs and still host a great party.

1. Make it a potluck! This is the most often overlooked way to save money on hosting a party. A potluck is like a smorgasbord of surprises, so therefore, this may not be something everyone wants to take on. A potluck tends to work best on a very limited budget and a casual scene, so if you really can't afford to feed a crowd, this is a great option.

2. Shop for your party supplies at your local dollar store. Table cloths, paper plates, cups, and decorations are all to be found at the dollar store and can save you big money on your party. It's best to shop early for an upcoming holiday (like early November for Christmas items), because dollar store stock is limited and the good items go fast!

3. Shop around for food items. Last year I got price lists from four local grocery stores. I then went home and compared prices and selected food platters that were the least expensive. As it turns out, I was able to split my order for platters between two grocery stores that were right across the street from each other. I saved money and got everything I need by making just one small, extra trip. Remember, your preferred grocer might not offer the best prices for food platters, so it pays to check.

4. If you are ordering lots of food, ask for a discount! Food platters are priced the same if you order 20 of a particular tray or just one. It pays to ask the manager if there is something that can be done to lower the cost. If you are having a party catered, you should always get several prices and ask your caterer to give you their best price AFTER they give you their initial price.

5. Many online programs will send invitations and keep track of responses for you for no cost, so if you can get away with it, send online invitations. Not only will you save the cost of buying the invitations, but you'll save the costs of postage for each. Shop around online for the best invitation prices if you must send invites in the mail.

6. Buy wine by the case. Retailers will almost always offer a discount for a case of wine instead of single bottles. This applies even to different types of wine. If you have some left over, you can take a bottle as a favor to the next party to which you're invited.

7. Make it a joint party by asking some friends or family members to be co-hosts. Let's face it; we all have too many obligations this year, so why not have one larger affair than multiple smaller ones? Co-hosting a party will allow you to cut your costs significantly as opposed to hosting it by yourself.

Follow the tips above, and your next holiday party won't break the bank!