Hosting on a Budget

Hosting a party requires many hours spent planning and, more often than not, a heaping handful of shelled-out dollars. The good news is that you don't have to spend oodles to host a party that induces smiles, laughs and memory-making moments for your guests. First and foremost, relax and try not to stress over too many details. It's also a good idea to give yourself plenty of time to prepare. Make lists, create a budget and don't be afraid to recruit help from friends, family or inexpensive vendors, if necessary.

Instead of stocking an entire bar, focus on creating one or two signature cocktails, advises Kristi Richardson, who's worked in the event industry for over 10 years. "Not only do signature cocktails add style to your event, they can save you a bundle on your liquor bill." To save further, she suggests using fresh, seasonal fruit with sparkling wines and sodas to create "light, yet flavor-packed drinks."

Have your party decorations double as favors, advises Marley Majcher, who's hosted parties for Britney Spears, Katherine Heigl and Snoop Dogg with her catering and event company, The Party Goddess! "For example, potted succulents or plants look great as centerpieces and can be taken home by your guests," Majcher says. "Alternatively, purchase simple glass vases—we're talking [about ones from a bargain store]—fill with flowers, candy or candles, and let guests take them home at the end of the event."

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Canning jars, or Mason jars, are extremely popular right now. They're also very cheap. "They can be used for so many things," notes Bethany Herwegh, whose blog, The Glamorous Housewife, is dedicated to being a housewife and hostess. She recommends using mason jars for vases, drinking glasses or candle holders. "You can even cook individual desserts in the small ones," she adds.

If you're hosting a large party and have the option of self-serve stations versus full-service waitstaff, opt for the former. Majcher says to just amp up the presentation at these self-serve stations. "Even taco or pasta stations can look stylish with inexpensive linens, wrapped cardboard boxes (to create height) and flower arrangements in recycled Mason jars or cans."

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If you have an abundant garden, skip a trip to the florist. Instead, snip greenery or flowers from your yard and use those as centerpieces. Herbs—and even vegetables—can make beautiful centerpieces as well. Place gathered fruit or vegetables in small or medium wicker baskets. You can also use old, painted wine bottles or soup cans as makeshift vases.

"You can purchase very inexpensive plastic chargers at any craft store and then spray paint them whatever color you like," suggests Herwegh. To save money, use them over and over again whenever you host an event. "One dinner they can be red, and at the next, they can be bright yellow," she says.

"Presentation is king," says George Hirsch, PBS chef and lifestyle host. "No matter if you are serving homemade spiced nuts or prepared edamame, put effort and thought into the way you are presenting your appetizers and dishes." For example, don't forget about inexpensive garnishes or beautiful platters and bowls to serve your food in. If you need more serving dishes, check the thrift store and use mismatched dishes in the same color family.

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Impeccable décor and scrumptious food are always party pluses, but being a gracious host can make all the difference when it comes to throwing a shindig. Meet and greet each guest with a warm welcome—and a drink—when they arrive, and thank them when they leave. Guests will remember a host's warm spirit longer than they'll recall the evening's dinner menu.