Want to throw a New Year’s Eve party that's both budget- and time-friendly? Put on your party hat and ring in the New Year with these quick tips from party planner Tracy Metro.

Food fete. Sure, you could slave away in the kitchen all day, but you shouldn't. Instead of working up a culinary sweat, purchase pre-made food at your local or online market. Plate it on your beautiful serving platters, and guests will be none the wiser.

Musical notes. Don’t delegate DJ duties to your hubby. Click your way to a festive playlist from iTunes, or simply put on Pandora to give the party the musical vibe you want.

Floral fun. In lieu of an elaborate—and expensive—floral arrangement, do your own DIY centerpieces. Take three small clear glass bowls, fill with water and drop a pretty flower head (such as gerbera daisies or orchids) or votive candles into the bowl for simple yet understated elegance.

Gorgeous garb. Move over, little black party dress. Make the festivities fun by asking guests to come dressed for a theme-night party. It can be anything from an all-white party, to an 80's-inspired soiree ... they can even arrive decked out in their PJ’s.

Delicious presents. Forget about a pricey parting gift. As the party is winding down, pop some premade cookie dough in the oven and send guests off with a warm cookie and a chilled milk box to enjoy on the way home.