New Year's Eve is just around the corner and it is possibly the largest global celebration. Starting in Australia, each time zone takes its turn celebrating the turn of the New Year. With one of the largest celebrations only days away, how will you celebrate and at what cost?

The DIY Option
The most cost effective New Year's plan would be to host a New Year's party. The do-it-yourself option allows you to set a budget and spend within your means. If you chose to send out invitations you can opt for websites like paperlesspost.com which allows you to send out e-invites, and the website gives you the first twenty for free.
The DIY option allows you to set the guidelines for guests. By having each guest bring a dish you will save hundreds on food and it will likely only cost each guest around $10 to $15 for his or her appetizer. Plus, you might get some great new recipe ideas.

Encourage guests to bring their own alcohol if your cabinets aren't an endless flow of liquor. This will encourage them to again contribute to the party and save you money. Depending on how much they drink, it will cost them between $10 and $30. In total, your guests are looking at spending $20 to $50 for a night out with friends, which is considerably cheaper than their other options.

A few other cost effective tips include hitting up the dollar store for party supplies and decor. You can get enough streamers to decorate your entire house for around $5. Lastly, by starting your party later, around 8:30 p.m., you decrease the amount of food and drinks you will have to provide. Four hours of partying with your friends is enough time to eat, drink and be merry without breaking the bank.

Four-Course Meal
If you opt for a more traditional meal out with loved ones, you may be looking at between $50-$135per person. Generally, restaurants tend to have two seating times in the evening. One is for groups that want to eat earlier and one is for groups that want to bring in the new year with a scrumptious four-course meal. The down side to this option other than the cost is the inflexibility in eating times and menu items. Some restaurants have a set menus for New Years, so if you are a picky eater then you may want to check what is being served before shelling out close to a $100.

Going Out
Tons of cities in the United States host major parties for all to join. Honolulu is the last major city in the United States to celebrate the beginning of the new year. It hosts fireworks on Waikiki Beach. Las Vegas is famous for its outrageous parties, and New Year's is no exception. Wherever you are in Vegas there will be tons of lights, including a huge fireworks show on the strip as well as downtown. However, partying at a Vegas club can be expensive, especially on New Year's. Tickets to well-known clubs like the Chateau are around $150 for the evening with prices reaching up to $5,000 to $10,000 for some of the VIP packages clubs offer.

The Bottom Line
With the most celebrated occasion coming closer, many people are deciding what they will do for New Year's and cost can play an important factor. Regardless of how you chose to celebrate, ensure it is within your budget. While a night out in Las Vegas may be fun, paying a few thousand dollars isn't. Opting for cheaper New Year's Eve plans may be a great way to spend time with people close to you and stay within your budget.

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