Dosh dilemma: Matt wants to host a New Year’s Eve party without blowing his January budget

Matt’s 21 and celebrating his first Christmas in his own place. Naturally, he’s offered to throw a New Year’s Eve party at his flat.

He’s imagining something lively but cosy, with fairy lights, music, homemade snacks and a big countdown with all his mates.  

But as soon as he starts planning, the costs begin to stack up.

The problem?

December is already expensive. Between Christmas presents, travelling to see family, and a couple of festive nights out, Matt’s budget has taken a hit.

And January won’t be any easier. Rent, higher heating bills and a looming credit-card payment are ready to bite.

Still, Matt really wants to give his friends, around 20 of them, a memorable New Year’s Eve.

He wants to know: “How can I host a great night without draining my bank account?”

Good news, Matt. 20 guests is a big crowd but there are plenty of ways to throw a brilliant party on the cheap.

Here’s how:

Set a ‘party cap’

Decide how much you can comfortably spend without harming January’s essential bills, including Christmas debt.

Think of this number as a limit, not a target. Once you’ve reached it, that’s it.

Keep the costs down

• buy a few staple drinks and snacks, but keep it simple
• make a signature cocktail or mocktail that stretches ingredients
• keep the Christmas decorations up, including fairy lights, candles and baubles
• borrow a speaker from a friend instead of buying or hiring one
• check community groups or neighbours, as people often lend out fold-up chairs or party bits for free

Lighten the load by sharing

You don’t have to turn it into a full ‘bring your own’ event, just ask guests, casually, to “bring something to share if you like”.

Crisps, dips, or a bottle or two are easy contributions and most people will be more than happy to chip in.

Fun activities on a budget

You can keep your guests entertained without spending much.

• board or card games are always a hit
• create a trivia quiz about the past year
• use free online quiz generators for quick, easy games
• and of course… good old charades never fails

DIY photo booth

Create a DIY photo booth with a simple backdrop and some props. Christmas boxes can make a fabulous frame when painted or wrapped with some leftover wrapping paper.

Remember Matt, most friends just want a friendly, fun space with loved ones to welcome the new year, not a lavish event.