1. Buy instead of rent tablecloths and glassware, then resell them on Craigslist or eBay.

Rental prices for tablecloths and glassware often cost nearly the same—if not more—as buying them yourself. Consider purchasing them then reselling the items on Craigslist or Facebook.

2. Buy Trader Joe’s Two-Buck Chuck or use Ibotta offers to save on alcohol.

There are so many wine and beer offers on Ibotta, you shouldn’t have to pay full price for alcohol these days. And as far as Trader Joe’s $2 ($3 in some states) goes, it’s way better than some of wines that cost quadruple its selling price!

3. Host brunch or lunch instead of dinner.

Even if you serve alcohol during brunch, you'll still see savings.

4. Turn Christmas lights into party lights with decorative disposable cups or used K-Cups.

Dixie Cups and empty K-Cups make cheap, but extremely cute, party lights. Just slit the bottom of each cup and slip over a mini light bulb.

Get detailed instructions here.

5. Ask your guests to bring a favorite ornament to hang on the tree or set on a table.

We did this at a Christmas party last year, and it was a great conversation starter! You could even use them for an impromptu game of "guess whose?"

Related: 17 Mouthwatering Christmas Cookie Recipes You Must Try

6. Skip the paper goods—use real plates and cloth napkins instead.

You’ll be saving trees and money this way. Plus, they look better than paper serving ware—even if you do have to use mismatched pieces.

7. Serve appetizers over a full meal to keep guests full for less.

Use a bread base like crackers, crostini, toast minis, and chips that you can get for cheap with coupons.

Get a delicious recipe for Baked Brie with Sweet Apples and Cranberries here.

8. Buy sparkling wine (prosecco or cava) instead of champagne.

Sparkling wine is basically champagne not bottled in France. It’s also much cheaper and works perfectly well as a mixer.

9. Buy plain candles and brew your own scent.

You can pick up plain unscented party candles at any craft store for less than $1 per candle. To add scent, use orange, apple, and/or lemon peels in a pot of simmering water and add some cloves or cinnamon and let the scent waft through the house.

10. Buy premade cookie dough and customize.

Snap up a great coupon for premade cookie dough and jazz it up for your party theme—you can use extracts, cookie cutters, dried fruits, edible sprinkles or even a bit of holiday liqueur and end up with super-cheap gourmet cookies you'd pay $3 per cookie for in stores.