New Year’s Parties are always fun to attend, but they can get pricey and overly crowded. One of the biggest perks of New Year’s parties is that you have the opportunity to wear any and everything glittery and sequined.
Attending these parties is definitely fun, but have you ever thought of hosting one yourself? You still get to wear your glitter and sequins, but you might actually end up having even more fun than you would if you attended someone else’s party, but it would take some thought and planning.
The worst thing you can do is plan a party, and not have everything you need. Your party will get started, everyone’s having a good time, and then you realize you forgot the champagne and champagne glasses. Now you’re having to leave your own party, and try to rush out and find some champagne and glasses. That reason alone will cause you to not enjoy your own party.
Without the proper amount of planning, you can prevent that mishap from happening. In order to throw an epic New Year’s party, you also have to consider the financial aspect carefully too. The cost of hosting a party can get a little outrageous.
To be the host with the most, you want to look at all your options to ensure that everyone has a good time, but also without going broke in the process. We’re going to take a look at some ways you can fund your New Year’s party this year without breaking the bank.
If you want to host a New Year’s party this year, a financial route you can take is to look into a personal loan. Now, I’m not saying you need to take out the same amount of money as it takes for a New Year’s party in downtown New York, but you will need enough to cover any and all costs.
When trying to figure out what items and supplies you’ll need to fund this party, it would be a good idea to write out a list. Creating a list leaves no room for an excuse to say you forgot something. Some of the basics would include party favors, food, drinks, and decorations.
With personal loans, you will receive a lump sum of money up front, which will then allow you to pay it back over a certain amount of time. That reason alone is a great reason why you need to see how a loan can help you.
One great thing about personal loans is that most of them have fixed interest rates. This means that your repayment amount will remain the same for your entire loan repayment period, so there’s no wondering what your repayment amount will be month to month.
These fixed interest rates also make it easy to factor into your budgeting. If your loan repayment amount is $70 a month, you can easily calculate that in with your monthly bills every month, without any worries of it ever fluctuating. Additionally, a loan will allow you to improve your credit score, both by adding credit diversity, and helping you strengthen your payment history.
Savings accounts are an alternate method of funding your New Year’s party as well, but it can be a little time consuming. It’s something you’ll want to have started the previous year to fund the current year’s party.
With a savings account, you want to check with your bank to get an account that will grow as you make deposits. This would be called an interest accruing savings account.
Funding your party with a credit card is also a great option. Credit cards actually make it a bit easier to keep track of your spending , versus cash. They also offer cash back and rewards when you use your card on certain purchases. So you are able to get the money you need, plus added benefits depending on where you shop.
Getting items such as party favors, food, decorations, and alcohol would be great purchases to put on your card. In many instances,, when you have a positive credit score, you’re eligible for a higher credit limit, and some companies will qualify you for a second card, so if you don’t know your credit score, check it so you’ll know your credit card options.
If you already have a credit card, and have been paying your bills on time, you can request an increase in your credit limit. Consistently paying your bill on time also raises your credit score. The credit card company will check your credit again to see if you qualify.
A Side Job
Taking on a side job is also an option, but it can be quite tiring, so when picking a side job, you want one where you can work smart, not necessarily hard. A side job can be whatever you want really, just make sure you’ll be able to be off in time for your New Year’s party!
There are several different options for additional income these days. You can drive for Uber or Lyft, using your own personal vehicle. This is a decent source of additional income because you have the convenience of your own vehicle, you can do it around your own schedule, and you can do it as much, and as long, as you want. If your rider is satisfied with your service, they can leave you a tip.
Now, if you’re one who is gifted with the talent of writing, then you can take on freelance writing. This job would also allow you to create your own schedule, and work at a pay rate of your choice. The great thing about a freelance writing position is that you can work from the comfort of your own home if you want. You can even do it in your pajamas…now that is definitely working smarter, and not harder!
Additional money from a side job would be a great contributor for your New Year’s party for buying refreshments, refreshments, party favors, and supplies such as champagne glasses, silverware, and food utensils. You could even get really festive and purchase napkins with your name and party’s theme on it.