3 Ways to Save on Your New Year’s Eve Plans

Written By Jeff Hindenach
Last updated November 11, 2017

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Money Saving Tips
December 14, 2015

Simple. Thrifty. Living.

Did you make a New Year’s resolution to save money, pay down debts or be more financially responsible? If so, you may not want to welcome 2017 with a budget-busting spending blowout. Here are three ways to have a great New Year’s Eve celebration and wake up the next day without regrets (at least, financial ones!).

If you don’t have the kind of lifestyle where you need high-end evening clothes on a regular basis, consider renting your New Year’s Eve outfit. Online sites such as Rent the Runway and The Black Tux offer the chance to rent pricey clothing and accessories for one-fifth to one-tenth their purchase price. Ship the item back for free after a few days, and they even take care of the dry cleaning; it’s a sweet product of the digital age. At these prices, you could rent the same item eight times and still pay less than you would if you purchased it and dry-cleaned it each time.

Stock up on party decorations at your local dollar store and check out bulk champagne sales early in December before New Year’s Eve demand pushes up prices. Ask your friends to each bring interesting finger foods and create a buffet table with a glittery centerpiece. Add in a great playlist, space for dancing and perhaps a view of the local fireworks display, and you’ll create a budget-friendly night to remember. Not to mention the fact that you don’t have to drive anywhere when it’s over! (Be sure to call a taxi or provide an extra sleeping space for friends who have indulged too much to safely drive home.)

While peer-sharing ride apps are often a money-saving alternative to traditional taxis, the opposite is true at times when demand surges. If you and your friends have been celebrating in the midst of downtown crowds, you’ll probably be heading home at the same time as everyone else. Your Uber ride could suddenly cost you up to 10 times as much as it did earlier in the day, because prices are set by supply and demand. Traditional cabs don’t get to change their prices — but you may want to reserve one ahead of time to avoid a long wait.

Fireworks, music, kisses and champagne are a glorious way to welcome the new year, but they only last for a few minutes. When you mix some thrifty choices in with your party sparkles, you can start off 2017 in healthy financial shape.

About the Author

Jeff Hindenach

Jeff Hindenach is the co-founder of Simple. Thrifty. Living. He graduated from Bowling Green State University with a Bachelor's Degree in Journalism. He has a long history of financial journalism, with a background writing for newspapers such as the San Jose Mercury News and San Francisco Examiner, as well as writing on personal finance for The Huffington Post, New York Times, Business Insider, CNBC, Newsday and The Street. He believes in giving readers the tools they need to get out of debt.

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