This is the perfect time of year to host a cocktail party — fun, fast and festive! And, while you want an air of swank to be part of the gathering, you definitely don't need to bust your (always stretched to the limit at the holidays) budget to do so. In fact, simple can often be the most stylish. Here are tips for supplies, drinks and music to make the evening a success with both your friends and your bank balance:

The Supplies:
Going for glass over plastic makes things all the more glam, instantly — and, you'll have supplies for next time without having to spend again and again. Spare glasses stack up easily in their boxes in a high kitchen cabinet — you'll know where they are when you need them but they don't need to take up room in cabinet or closet areas that you access everyday.
Basic wine glasses at less than $1 per piece:
• Wine Glasses - Pack of 6 for $4.99 at IKEA
Champage glasses by the dozen:
• Champage Entertaining Set for $24.99 at World Market
Classic barware sizes with a chic, thin walled profile and bargain pricing:
• Marta barware for $1.50 - 2.50 at CB2
You are definitely going to want to hit the "off" switch on any overhead lighting at a cocktail party and rely on the table or floor lamps to give your space a more intimate, festive feel. A little sparkle spread throughout the room as well, via tea lights, takes five minutes and just a few pennies but ups the celebration factor tenfold.
• 100 pack Tealights for $3.99 at IKEA
• 12 pack of basic holders for $1.99 at IKEA

Fresh flowers for the party space is a must, and they don't need to be exotic blooms. Carnations from the supermarket can actually work really well, especially at this time of year, since they can project very different, very distinctive looks, based on their arrangement:
• Beautiful, Frugal Flowers: 3 Ways to Use White Carnations for Holiday Arrangements
And, vases don't get much simpler or more affordable than this, if you are interested in consistent look throughout the room:
• Rektangel Vase for $2.49
Serving bits of delicious goodies on individual spoons is a perfect party concept. Here are two choices, squared off or rounded, both clocking in under a dollar:
• Glossy White Curve Appetizer Spoon for .95 at CB2
• Porcelain Individual Spoon for .95 at CB2
A stack of small square plates also works (and stores) well:
• Set of 12 Appetizer plates for $22.95 at Crate & Barrel
Trays can make more surfaces in small spaces usable for setting down a drink:
• Colorful Square Lacquer Trays for $22 - 24 at West Elm
White or rainbow cloth napkins can be used over and over again:
• Set of 6 Classic Cocktail napkins for $19.95 at Crate & Barrel
• Set of 12 Rainbow Cocktail napkins for $24.95 at Crate & Barrel

The Booze:
From our cooking site, The Kitchn, here is the last word on a well-stocked (and well-priced) bar from a panel of experts.
• Best Bargain Booze: 7 Top Picks From Bar Experts
A pitcher drink is always a smart way to go, too. It makes a narrower range of liquor go a long way and makes the gathering more of an "event" by offering up a signature drink for the evening, taking it out of the realm of the usual beverage choices that are accessible year-round.
You could try a punch...
• Winter Holiday Recipe: Wassail Punch
...or a signature cocktail, both served by the pitcher:
• Blueberry Lavender Vodka Spritzer
• The El Diablo Cockail

The Music:
I recently received a record player for my birthday, so we're going old school at our apartment these days. I've been gathering all sorts of funny, funky, records that are actually from the days when cocktail parties ruled. I check once a week or so at my local thrift store and have been building a collection for just $1 each.
• Readers' Favorite Thrift Stores
But, if you want to keep things digital, there are great affordable (and free) options, which open up both your time (set a playlist and go) and your space (nothing to store).
Apartment Therapy Tech weighs in on some options to consider:
• Best Internet Music: MOG, Spotify or Pandora?
• Best Internet Music, part 2: Rdio, Slacker & Rhapsody
• Free Music for All
All of this is just a starter list, of course. Please add your tips, sources and suggestions to the comments below… and party on!
(Images: as linked above)

Nomade Express Slee...
Alas, I live in a small Canadian city where the nearest Ikea and/or Crate & Barrell are 90 minutes away (or more should I choose to go to Detroit).
And bargain booze is non-existent on this side of the border... :-(
what record player did you receive? interested in getting something one. would like something new as opposed to used, i think.
youngfrances -
its the ion mobile LP in white. affordable, compact and it can even run on batteries if you want to take it along for an outdoor party! ive only had it for a month or so, but so far, so good.
Marshall's, Ross & the like are also great sources. My parties tend to be in the 15-20 people range so I bought a dozen wine glasses, a set of pretty crystal-ish 6 DOF and 6 highballs at Marshall's as well as a dozen square white appetizer plates (just like the ones at Crate & Barrel but cheaper). And since some folks have wine, some have beer (in bottles), some have eggnog, some have water I don't need to have 20 of each type of glass. It's never been a problem. Plus I always make sure to serve mostly food that doesn't need a plate so don't run out of those, either.
Oh - and I had to really hunt to get all of that. Think I went up and down the aisles of the same Marshall's a dozen times before I spotted it all. The bottom shelves are especially good for heavy stuff like glass sets.
These are all great suggestions but I think it is a terrible time to host a cocktail party, because we are heading into non-stop holiday madness. I have more parties to attend between now and Jan 2 than I do the whole rest of the year combined.
I would like to be asked to a fabulous cocktail party sometime in March or June, months when there aren't other big holidays going on. Have a St Patricks Day cocktail party! Or Arbor Day!
I second Marshalls, Ross, TJ Maxx, etc. and for anyone who doesn't live near an Ikea, which for some reason still hasn't discovered online shopping, CB2 ships internationally (I believe).
I might get these on Z Gallerie to put around the dining room table for Christmas. http://www.zgallerie.com/p-11192-modello-tealight-gunmetal-set-of-3.aspx
Charlotte - I agree. A cocktail party right now probably isn't the best idea, unless it's a holiday party and just happens to be with cocktails :)
I forgot to ask. Does anyone know a reliable source for soy tealights? I don't want to light regular candles in my apartment since the windows don't really open enough to let out of the dangerous fumes.
I have executed a ton of events, and I've got to give props to those Ikea tealights. They are the best!
@ Pi- unless you're in a high rise, those windows should open due to general building/fire codes. I've gone through having to put pressure on my landlord to fix the windows in my apt (read: chisel away the layers upon layers of paint holding them shut =/ ).
if you live in a sparse shopping area - enjoy the internet shopping -it's the best.
this is a GREAT post - thank you!
oh and if you are a World Market member you get awesome deals on wine
@zimmerwoman - you nailed it. I live in a high rise. I have windows that open, but not very much, and not enough that I would comfortably light a bunch of candles. Plus, it would be too cold to open them anyway.
Found soy tea lights on amazon!
Any one know where I can get really big (think 20 oz or bigger) regular drinking glasses?
Lots of nice stuff at Homegoods!
Xtina - Crate and Barrel has "Biggs" highball drinking glasses that are 21 oz:
http://www.crateandbarrel.com/dining-and-entertaining/bar-and-drinking-glasses/biggs-glasses/f40200
@ Pi- yeah for internet shopping! =)
I second the suggestion of Goodwill/thrift stores. I've bought fun, distinctive glasses there for about 25 cents. And I often see cocktail shakers, ice buckets, etc., for a couple of bucks.
May I just add a word of praise for the choice of Carnations! They are the only readily-available flowers that LAST !! and they last for SO long... IF I remember to change the water often, and, when I do, also SNIP off the last few inches of stem, as they will get yucky. It's funny, the arrangement will get shorter as time goes by -- might start with tall vase and migrate to a pudgier one. It is possible to get up to two weeks of pleasure from one purchase of Carnations!
I hosted a cocktail / appetizer potluck. Guests brought their favorite appetizer or their favorite drink. I rented glass ware for 50 and it cost around $25. I wasn't even required to wash them afterwords. I had 40 people show up. The only difficult thing was fitting everyone in a 1000sf space. It was a great party and I only spent $50.00 total.
I have lucked into great glassware and candle holders at the dollar store, believe it or not.
I'm not big on matchy-ness, and I have found thrift shops like SA and Goodwill to be excellent for collecting glassware & plates for next to nothing.
You can't go wrong with shopping at The Dollar Store for party supplies, or Party Packagers (Canadian). Both have very cheap but durable supplies including wine and shot glasses, punch bowls, napkins, and decor.
I second CheesePirate for thrift shopping. It's amazing what you can find -- you can get a couple of sets of decent dishes and glassware, even stemware -- all without breaking your budget.
World market has cases of a dozen wine glasses for $10! For mood lighting use cheap fairy lights draped over bookcases and doors. reusable and cheap from dollar stores and craft stores like Michaels and Joanns. And booze wise- nothing beats sangria! Red with mixed frozen berries and white with frozen peaches. Sure it's a little ghetto but real sangria IS a little beaujie anyways so... whatevs!
Wal-mart (yes, Wal-mart!) is carrying Libby square-bottomed highball/old-fashioned sets that look just exactly like Williams-Sonoma's $49/set of 4 (http://www.williams-sonoma.com/products/square-highball-glass/). The glass isn't of the same quality or finish, obviously, but hey, they're $10 for a box of 8 of each. I love them and keep a couple of spare boxes in storage.
Any suggestions for high-quality DISPOSABLE glassware?? I love this guide but don't want to have to store cheap wine glasses, and don't want to use my Riedels....
you can get all of these items local at bowery kitchen supply @ the chelsea market ;)
@Pi... these are better than the soy version (although soy is better than paraffin...)
http://www.purebeeswaxcandles.com/
And the scent is heavenly. They are a small company but make the most exquisite candles and are totally bee friendly (and invest a lot in bee rehab etc)
I would think twice about buying anything from the dollar store ESPECIALLY food items. Or any cheap dishes really... mostly made in China with really nasty lack of regulations and heavy leads and toxins. If you are going to buy stuff that is really cheap, remember that there is usually a reason why. If you do though, glass is typically inert and you don't have to worry as much about it... porcelain or anything like it is usually full of yuck.
Having said that ^^^ IKEA has very high quality standards and even the stuff that they make overseas is under very strict quality control, so it's a go.