By Maura Attardi
Engagement Insider

The summer is flying by and the 4th of July is around the corner!  This is one of my favorite holidays because we get to BBQ and spend time with family and friends in the sun!  And of course, when the sun goes down, there are the fireworks!  When planning a party, it is easy to get caught up in the desire to impress and overspend.  So how can you throw a fabulous 4th of July party without breaking the bank?  Here is some advice on throwing a fun, yet frugal, party that your friends and family will remember.

Step 1: Pick your price. Ask yourself: “How much can I reasonably afford to spend on this party while still meeting my other financial obligations?” Set your limit and stick to it. Whatever your budget, you can still throw a party that your guests will love.

Step 2: Consider the details. The “who, what, where, when, and why” of your party can have a major impact on your party budget. Make some cost-conscious choices, like inviting fewer guests or hosting the party at a free location such as your home.

Step 3: Budget for the big three. Food and drink, decorations, and entertainment are the three big-budget categories for any get-together. Decide how you want to allocate your party budget and look for creative ways to save in the other categories. Following are some ideas:

Food and drink

Potlucks are a frugal way to feed your guests and get them involved. Particularly in the case of big celebrations, your family and friends will likely be happy to help contribute to the meal.

Alcohol is a big budget breaker; ask guests to bring their own if they wish.

Buy things that you need, like paper products,  in bulk.  Since you are only halfway through the summer, these things can be used at future events.

Decorations

Nothing says the 4th like red, white, and blue.  You don’t need to buy your decorations at an expensive party store.  The local dollar store should have all you need.  Look for small American flags that can be used in a centerpiece or patriotic pinwheels and place them around the yard.  Consider getting the kids involved and have them cut out stars of all shapes and sizes from red, white and blue cardstock.  Hang the stars everywhere!

Entertainment

There is no need to pay to see fireworks either!  In many cases you can see a display or several from your own backyard or near a site that is shooting off fireworks.

And remember, enjoy the day with family and friends and enjoy celebrating our independence!

Source: Money Management International