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Throwing New Year's Bash on a Budget

New Year's Eve can be expensive -- especially if you are hosting the party. But when it comes to ringing in the New Year, a little planning and creativity is all that's needed to start 2010 with fun and a full wallet.

Amy Goodman, senior editor of All You magazine gave some tips on "The Early Show" for how to throw a budget-friendly soiree.

The key, according to Goodman, is to repurpose things you already have in your home and you can supplement them with a few purchases.

Goodman said families are now, more than ever, looking for ways to celebrate the holidays without compromise -- and entertaining shouldn't be a sacrifice.

Goodman shared these inexpensive ideas to get you started for a stylish New Year's Eve:

Set Table
The holidays are all about sparkle and shine. Set the table using a silver and blue theme. We love this color combination because it's festive and contemporary.

We started with a basic tablecloth, metallic chargers, blue glass place settings, white napkins and basic silverware. You will have most of these items in your house but you might want to consider purchasing a few "upgrades" just for color or shine. This four place setting set was less than $15 and these charges were just $5 for four from Walmart.

• For a do-it-yourself napkin ring, we cut up paper towel rolls and covered in tin foil, a project the kids can help you prepare…

• Try this elegant spin on a centerpiece. Use a silver full-length mirror and place it in the center of the table like a table runner. We then focused on decorative touches to bring glow and highlight the metallics. Adorn with confetti or sequins you may already have at home and tea lights.

• Reuse some of your Christmas décor in this table setting. As you're deconstructing your tree, fill a hurricane with silver and blue ornaments. This acts as the focal point for your table. Scatter a few ornaments on the mirror and hold them in place using glue dots.

• What is New Year's Eve without a celebratory toast? Here, presentation is everything. We used footed cake stands and placed them on top of each other to create a towering champagne stand. It might be fun to mix and match cake stands you already have in the house but these two glass ones were less than $11 each and this festive one with gold trim was $12 from Walmart. Use retro plastic champagne glasses.

• Bring the outdoors in. Dress your chairs touches of twine, ribbon and greenery for a rustic feel. Use clippings from bushes in your yard, eucalyptus for an aromatic air or seasonal flowers

• On this same note, use your holiday wreath as a centerpiece.

• Along the same lines of the centerpiece on our main table, you can add a string of white lights to a vase full of ornaments. Plug them in for a pretty glow. This has the added bonus of forcing you to clean up Christmas décor before the New Year!

Cost-Effective Party Foods:

Hors d'œ uvres don't have to cost a fortune. These crowd-pleasing recipes cost only cents per serving and include:

Stuffed Cheese Puffs at 23 cents per serving.

White Bean Dip at 28 cents per serving

Avocado and Mango crostini at 69 cents per serving

• One way to commemorate the year gone by is to start a group gratitude journal where all guests write what they are grateful for in that year. It also serves as a guest log and a wonderful activity for the kids, they can also decorate it with leftover sequins and foil from your table.

• Ring in the New Year with an artful display of clocks. Gather all of the clocks in your house from the bedrooms, office and even your kid's room. Place them on a mantel or how we've done on this table and set them to all go off at midnight.

To purchase the items featured on "The Early Show", go to Walmart or
Blue glass plates - $14.96 for a set of 4
Package of silver chargers - $5
20 piece silverware - $14.97
Silver mirror $19.96
Glass cake stand with gold trim - $12
Canton Cake Servers - $10.97
Large Better Homes & Gardens candle holder - $20
Shatterproof ornaments - $5 per box
Glass tea light holders - $5.50 each
Bag of tea lights - $2
Sequins/confetti - $1 per pack
Curling ribbon - $2.50
Wreath - originally $15, on sale for $7.50
Oval platter - $5 each
Journal - $12.97
Alarm clocks - range from $3.97 to $9.77
Wall clocks - range from $15.47 to $16.47

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