As children, we all look forward to large holiday family gatherings with tons of food and drinks. But, as you get older, you realize just how stressful and expensive it is to host family from out-of-town.
Since you want everyone to eat well and be merry, it’s easy to get carried away and overspend. Fortunately, if you follow these five tips, you can manage a tight budget this holiday and still host a memorable family get-together.
1. Create a holiday itinerary.
It’s often unplanned activities, like an impromptu trip to the movies on Thanksgiving night, that drain your bank account when family comes to visit. You’ll save big this holiday if you can limit surprise expenses.
Schedule your holiday itinerary out play-by-play. For instance, plan meals for each day to avoid eating out. If you do want to take your guests out for a special meal, scope out one or two affordable restaurants beforehand. Then let your family choose from restaurants you already know are in your budget.
You can also plan fun activities for each day they visit. For example, you can stay in and rent a movie on Thanksgiving night to avoid expensive concession snacks, and venture out the next day to window shop on Black Friday.
Even if you don’t follow your itinerary, you’ll have budget-friendly activities to fall back on throughout the holiday to entertain your guests.
2. Prune your holiday dinner menu.
Choose your menu wisely to cut costs and make less complicated dishes with affordable ingredients that can feed a large group of people.
Of course, main courses like turkey and ham are where you can get the most bang for your buck. You can usually find good deals at the supermarket on both types of meats, since they’re holiday staples. For instance, ShopRite is offering one free turkey or ham if you spend a certain amount using your rewards card between Oct. 18 and Nov. 26 (exact purchase requirements may vary in each store).
Search your local supermarket circulars for deals and coupons in advance to plan your shopping trips around the savings.
3. Budget for every expense.
We all know it’s easy to go overboard during the holiday. But the last thing you want to do is overextend yourself and start the new year with credit card debt. To avoid overspending, always head to the store with a budget and a list of everything you need for the holiday — and not just food.
Make room in your budget for tableware, decor, wine, beer and even toiletries for your family members staying over. You can find most of the party tableware, décor and toiletries at your local dollar store. You can also buy in bulk at Costco or Sam’s Club.
What about the wine, beer and other adult drinks?
Typically, there’s a discount for buying large quantities. Look for case specials or call local distributors for deals. Party drinks like punch or sangria can be affordable alternatives to wine and beer. They’re also cheaper than individual bottles and can last the entire night.
4. Trim the guest list.
Be realistic after creating your holiday budget. You may not be able to accommodate a relative you haven’t seen in years, and it’s OK to say no. If you don’t have the funds for a huge dinner, be straightforward with your guests.
Let them know you’re having an intimate affair for close family and a few friends. Sending out personalized invitations is an easy way to tell guests that your holiday party is invite-only without offending anyone.
5. Know when to ask for help.
If you have a huge group of close family and friends who you don’t want to cut from your guest list, you can always host a potluck. You can take care of the main courses, and then ask everyone to prepare a dish. Most guests are happy to chip in.
Plan the potluck so you’ll have a variety of hors d’oeuvres, side dishes and desserts to balance out the holiday dinner. You can also ask guests to bring their drink of choice to the party. It will save you money, plus you’ll have a stocked bar at the end of the night for future gatherings.
The holidays are definitely a stressful time for party planners. But if you shop in advance, budget carefully and create a detailed plan, you’ll enjoy the holidays without breaking the bank.
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How to Save Big When Hosting Family for the Holidays originally appeared on usnews.com
