Holiday entertaining has never cost more than it does today.
With huge increases in holiday food spending on top of higher prices — including an estimated 12 percent jump in overall spending in 2011 versus 2010, according to the National Retail Federation — consumers are parting with more cash than they ever have when it comes to seasonal entertaining.
Here are a few key tips for successful entertaining that can help you save some money while still making sure guests get what they need.
Switch up your meal
Experts ranging from local caterers to domestic diva Martha Stewart say one of the quickest ways to save funds on a holiday party is to rethink the meal.
If you were thinking sit down dinner, think buffet. If you were thinking dinner think lunch. If you were thinking lunch think brunch. If you were thinking main course think appetizers.
A brunch can save as much as 40 percent over a dinner due to the cost of the ingredients being used. A party that opts out of an entree in favor of appetizers and desserts can save 30 percent or more.
A potluck party will offer the most significant savings if you don’t object to asking guests to do just a fraction of the work. If you decide to do it yourself the website snack picks.com recommends stretching meats by serving them with vegetables or fruit — for example, wrapping vegetables or cantaloupe in prosciutto. Pasta in any form is also a low-cost way to get guests full without breaking the bank.
Savvy shopping
We’re bombarded constantly by promises of huge savings on purchases either through coupons or in-store promotions. But at the end of the day it’s still one of the best ways to save on your bill. Smart Money reports that overall food prices are higher this year, but the sale prices are often the same as last year.
Teri Gault, founder and CEO of The Grocery Game, a website that provides consumers with lists of low-priced grocery products, says some of the best ways to save are combining coupons with in-store deals and buying in bulk when you find things at the right price.
“You don’t even half to cut coupons to cut it (your bill) in half,” says Gault. “But adding a coupon saves you about 67 percent on the average.”
Keep the food simple
Great looking, flavorful food is achievable with the right plan and the right recipe.
If you decide on using a caterer for any part of your event, be sure to see if they are catering any other events that you can use menu options to save money.
Bonnie Fedchock, executive director of the National Association of Catering Executives, says it’s almost always cost effective to produce the same dishes if possible. If you can make it work for your party, be sure to ask for some money off your bill.
If you’re doing the work yourself, which is the most affordable route by far, look for recipes with inexpensive, flavorful ingredients that are relatively easy to prepare. A baked cheese spread or a hot spinach dip with gourmet pita chips is cheap, easy and can easily be prepared in bulk. Get creative and colorful with a tray of Caprese kabobs that feature tomatoes, fresh basil and buffalo mozzarella on skewers drizzled with balsamic vinaigrette.
Other ideas that fit the criteria of being easy, affordable and relatively cost effective could be an Antipasto plate, stuffed mushrooms, a frittata cut into bite-sized pieces, different kinds of meatballs or a wine and cheese pairing. The trick is to look at the recipe time, look at the ingredient list to get a sense of cost and be sure that you have several protein options as well as vegetarian options.
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