4 ways to throw an awesome Christmas party on a budget

'Tis the season to welcome company into your home. Here are some can't-miss tips on how to throw an awesome Christmas party on a shoestring budget.

Renting a venue or making a restaurant reservation can seem like an exciting option, but it can also be quite costly, especially if you're only inviting a few friends and family.

• Avoid overspending with a holiday party at a hotel or the local country club and host a small gathering at home instead.
• Hosting at home provides a cozier atmosphere than a formal venue would provide.
• Keep the event simple and skip the hired staff.
• Clean the home yourself and ask some of your close friends to pitch in and help with everything else, including sharing their best hosting tips.

If you're on a shoestring budget, having a Christmas party catered or bringing in lots of pre-made food will quickly eat into that budget. Save time and money by hosting a potluck party.

• When you send out your invitations, consider encouraging each guest to bring a dish.
• Ensure diversity in dishes by requesting some guests bring a savoury dish while others bring sweet treats.
• Make sure everyone can handle their assigned part of the meal and you'll keep the table from being dominated by too much of one thing.

One of the biggest expenses of throwing a Christmas party is supplying the alcohol.

• Instead of springing for all the cocktail ingredients yourself, host a "bring your own bottle" party, also known as BYOB.
• That way, everyone gets the cocktail they want and you might even wind up with lots of leftovers for a New Year's party.

While it may be tempting to splurge on the holiday decor, it's just as easy to decorate on a dime.

• Pick up some Christmas decorations from your local discount store, where there are plenty of available ideas in the run-up to the holiday season.
• Or gather some materials and make your own decorations. Get the whole family involved in making decorative garlands and paper snowflakes to create a personal winter wonderland indoors.

These are just a few easy tips for throwing a Christmas party on a shoestring budget. From hosting at home to decorating on a dime, you can be sure that your friends and family will still have a ball while you manage to keep some money in the bank. After all, it's the holidays, and the company you keep is what really matters.