Throw a penny-wise party

This time of year, the only thing more nervewracking than the mall parking lot is hosting a holiday bash. Not only can the preparations make your head spin, but the costs can cause major stress, too. Thanks to some party-planning experts, here are a few simple ways to keep your festive fete from breaking the bank.

Say farewell to the full bar

There's no need to stock a full bar at your bash. Instead, pick one signature drink to serve guests. (Eggnog is a timeless holiday fave.) Not only does serving a single drink save money, it saves time, too, since you avoid playing bartender all night. Make the drink a conversation piece by placing it in a punch bowl so guests can mingle during refills.

Smoke and mirrors

We all know the power of candlelight at a party, but the little wax wonders can add up. Kimberly Schlegel-Whitman, an entertaining expert and author of "The Pleasure of Your Company: Entertaining in High Style" (Gibbs Smith, 2004), has the perfect penny-pinching solution: "Place candles in front of the mirrors in your house. It will look like there's double the amount burning."

Serve just dessert

Save big bucks by bidding adieu to the seated dinner. Instead, host a dessert buffet around 9 p.m. Load a table with home-baked sweets or, if cooking isn't your cup of tea, some store-bought varieties. Save money by serving coffee instead of cocktails.

Become a printing pro

Buy blank cards from a stationery store, suggests Elizabeth Malakoff, graphic designer and owner of www.basicallycards.com. "Take home your cards of choice, type a message in a Word document and print them yourself. Keep the type small and crisp for a more professional look."

Keep stems simple

Ditch the bouquet when on a budget, says Robyn Wise of Cymbidium, a floral design studio and party planning service in Dallas. Instead, splurge on just one stem of your favorite flower (she recommends orchids or roses) and put it in a simple bud vase. "A gorgeous single stem is always chic and understated."

If you are set on using an arrangement, use flowers that are in season because it can cut your cost in half, she says.