New Year's Eve On A Budget? CBS2 Gets Tips From Expert

PISCATAWAY, N.J. (CBSNewYork) -- New Year's Eve is a big deal in New York City, and the celebration could end up costing you big bucks.

CBS2's Meg Baker got some expert advice Thursday that could help save you money as you ring in 2019.

New Year's comes with its own expensive to-do list, including picking a venue and getting an outfit. Financial expert Jason Reddish has some tips to avoid the spending hangover.

"Don't be a big shot. What I always say is, if you had a tough year, reflect on the year prior, what you did right and what you did wrong. If you did a lot wrong, serve Prosecco, not champagne," Reddish said.

Some venues charge big bucks for a New Year's Eve ticket. Ask if they do group discounted rates or consider hosting.

"Don't be afraid to tell everybody to bring their own. If you're throwing a party, everybody brings their own bottle of wine. Spirits can save a lot of money," Reddish said.

That goes for food, too. Everyone can bring a dish.

Most people CBS2's Baker spoke to Piscataway said they are looking forward to ringing in the new year by relaxing at home.

"We tend to go all out Christmas Eve. New Year's is kind of like that small get-togethers. Gather around the TV and watch ball drop," Brendan Jaramillo said.

"New Year's we're staying home and going easy, keeping the money down," added Jackie Price of South Plainfield.

Price offered a savings tip.

"I'll cook. What we'll have is all hors d'oeuvres. No big meal," Price said.

Rich Vaness of Piscataway said home cooking -- not catering -- is the way to go.

"I save, clip coupons. I check circulars, buy what's on sale," Vaness said.

Now, what to wear? You might be able to get a deal on that sparkly dress this week.

"There's a lot of good sales. Definitely after Christmas, there are even better sales," Brittany Becker added.

Reddish also suggests looking at what you already have in your closet. A week off from school or work is a good time to de-clutter, return gifts you wont use or even try selling them online to make back a few dollars.

Finance experts say you always want to plan for the unknown in the coming year, including medical bills, and car and home repairs.