This is a guest post by Alban who is a personal finance writer at Home Loan Finder, a home loan comparison website.
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A budget of $100 for Christmas day at your place may not sound like a lot, but when you plan your menu, your groceries, your decorations and your drinks you can take out much of the stress of the season, which is rooted in the cost of the day. While everyone will be able to set aside a different amount for Christmas dinner it is still important to plan and budget for the day to avoid a financial hangover in the New Year. Plus, while it would be a lot easier to stretch a $100 budget to feed a Christmas dinner party with six guests than it would be to feed 20, everyone can apply these few tips to their festive season celebrations.
Create an Affordable Menu
If you have to limit the number of guests for affordability’s sake then explain the situation to extended family and plan another time to get together for Christmas which could be a picnic, a day at the movies or a camping trip. Christmas is not the time to overextend yourself on your budget because it is easy to think you have the funds available, until you remember all of your everyday bills and expenses, plus the fact that with the Christmas break, your next pay check may not be arriving for several weeks.
With your budget and guest list confirmed consider what you want to serve. Remember that turkey is more affordable than other birds such as duck or goose and you’ll also get more meat. Also plan for any children who will be there as you may not have to cater a normal adult meal for them.
To make your Christmas menu special even though you’re on a budget, choose one part of the meal you want to focus on. You can do this by electing to cook just the main dishes yourself and have each of your guests bring a side dish, or a salad or a dessert. Alternatively, you can spend more on a fancy dish for the entree and plan cheaper and simpler side dishes and dessert. With simple ingredients, easy methods and a few carefully selected seasonings you can create a traditional home cooked meal which doesn’t have to cost the same as a restaurant menu per plate.
When planning your menu it is also important to know your cooking skills and make sure you don’t plan a menu you can’t execute. A difficult menu results in more stress for you and can also mean more wasted food when dishes don’t turn out the way they should and can’t be served.
Save on Shopping
With your menu planned you can now start making your shopping list, remembering these few key tips:
· Bulk can be cheaper. Buying a full turkey can often be cheaper by the kilo when compared to a smaller duck for example. Plus, you can cater to Christmas day and almost all of the holidays as you make the rest of the meal into kebabs, sandwiches and even use the carcass to make soup or stock. Also, as you’re making your list, identify common ingredients which are used in several of your recipes so you can buy these in bulk too.
· Plan and shop early. Not only does this help you beat the inevitable price rise around Christmas time but also means you don’t have to buy everything at once. Not to mention you’ll also be saving yourself time and stress in beating the last minute crowds.
· Reduce the frills. When catering to the masses you can get away with not including all of the add-ons and garnishes the dish usually needs. A simple meal which is made well will be well received by your guests and once it is on individual plates, it won’t matter how it looks.
Decorate the Dinner Table on a Budget
When you’re catering to your whole family in your home at once you’ll quickly find you are short on things like plates, glasses, serving platters and more. Therefore, borrow what you can from friends and family to save you buying items you’ll only use when everyone is together once or twice a year. You will be surprised at what your family and friends will be able to lend you once you ask. Not only is Christmas the time for giving and sharing, it is also the time for excess so you can probably source extra tinsel, baubles, lights and tablecloths to create the perfect festive atmosphere.
If you’re worried about there being enough room in your oven, or the expense of having enough baking trays to cook everything at once, why not use your barbeque, where you can use cheap disposable aluminium foil trays? Another big expense when catering to your whole family can be the actual dinner table, but once you start getting creative with your decorations you will find ways to borrow tables and chairs from neighbours, or even disguise your outdoor setting with festive tablecloths.
If you don’t want to borrow everything, give what you need for Christmas dinner as a gift. Give your partner a dinner set or special decorations as their Christmas gift, as you are still giving and receiving presents, which can then be used and displayed right away.
Also consider making your own Christmas crackers which can be as simple as collecting some toilet rolls or paper towel rolls, some candy for inside, some tissue paper for hats and wrapping paper left over from last Christmas. You can then buy the cracker noise maker from craft stores and you have a thoughtful and affordable table setting.
At the same time you can also make table centrepieces with berries, nuts or leaves from the garden, arranged around a simple white candle. Printing place cards on your home computer and decorating them can also make a pretty keepsake for your guests.
Drink and be Merry
Another big expense on Christmas day is the alcohol so ask each guest to bring a bottle of wine, spirits, a mixer or a soft drink to ease your bill at the bottle shop. Plan your alcohol buys carefully too as you can often get a discount when you buy six bottles of wine for example.
Also make sure to buy large bottles of soft drink as this will be cheaper than cans and you can then switch all of your guests to soft drinks after dinner since many of them will need to drive home, and they’ll thank you the next day when they aren’t hung over.
I've never had a $100 dinner party. What about you? What are your best cost-cutting tips for entertaining?