Hosting a party requires many hours spent planning and, more often than not, a heaping handful of shelled-out dollars. The good news is that you don't have to spend oodles to host a party that induces smiles, laughs and memory-making moments for your guests. First and foremost, relax and try not to stress over too many details. It's also a good idea to give yourself plenty of time to prepare. Make lists, create a budget and don't be afraid to recruit help from friends, family or inexpensive vendors, if necessary.