New Year’s Eve on a budget means ... sticking to your budget

NEW YORK - It’s the party of the year, for those who like to party, but what happens when your New Year’s Eve dreams are too big for your bank?

There are lots of ways to cut corners and still have loads of fun. You need a little imagination, possibly some elbow grease and the willingness to compromise.

Among the first things to consider is budget. Have one and stick to it, said personal finance expert Rachel Cruze. Without a bottom line, she said, it’s too easy to hop from shop to shop dropping $10 here and $20 there. And pay with cash to stay on track.

If the goal is to go out, look for places that aren’t charging extra for special New Year’s packages. Some venues may be hosting a big-ticket party in one spot and opening another area on the cheap.

In Temecula, California, for instance, the Pechanga Resort & Casino offers party packages for a set price but opens its Round Bar area for no cover and free valet parking. Drinks aren’t free but there’s a balloon and confetti drop at midnight.

As for fancy duds, party attire can be rented and trendy pieces are plentiful at lower prices. Or throw a no-pressure pajama party at home.

The key, overall, when trying to save your New Year’s Eve bucks is to forget about the Joneses, Cruze said.

“Comparing yourself, and your New Year’s plans, to others not only steals your joy but also your paycheck,” she said.

For families, lots of towns host inexpensive “first night” gatherings.

West of Boston in MetroWest, for example, there’s an outdoor event along a local rail trail. Families sponsor and tend to bonfires along the route, supplying marshmallows, chocolate and graham crackers for s’mores.

A railway tunnel along the trail is strung with lights and local Boy Scout troops provide hot cocoa and hot dogs as people of all ages walk, some draped in strings of Christmas lights.

Brad Nierenberg, who lives near Scranton, Pennsylvania, said he helped throw a bash at his church last year, ordering inexpensive party favors online and using as centerpieces wine bottles he spray painted gold and silver to hold similarly painted branches he collected in his backyard.

They skipped Champagne and went for ginger ale instead.

On the subject of spirits, not all less expensive Champagnes are swill. And there’s always the prosecco or cava options. If you can’t give up the idea of Champagne altogether and are hosting a party, do a punch instead of serving glassfuls.

Depending on your style, hosting doesn’t have to cost a lot. Do “sweets and treats” rather than a full meal, go for a pot luck or get crafty with decorations you already own, said Sara Skirboll, a shopping and trends expert for the deals site RetailMeNot.

“Repurpose your Christmas tinsel and string lights,” she said. “Tack up some tinsel and twinkly lights around main doorways within the party area or gift wrap a wall for a festive photo opp.”

Andrea Woroch, a consumer and money-saving expert, said don’t be afraid to ask guests to BYOB. Most of your friends ask what they can bring, anyway, so why not say bring your favorite drink, whether it’s beer, wine or liquor with a mixer, she said.

“If you prefer to provide the booze, as many do, don’t stock a full bar,” Woroch suggests. “That will become incredibly