Hosting a New Year's Eve party often includes decorating for the night. Decorating doesn't have to be a huge deal, there are several ways you can decorate easily and quickly without having to spend too much money.
First you should pick a theme to go with. Many New Year's Eve parties are adults only, in which case you may want to choose a different theme than if the party is going to be a neighborhood party including children. Fun hats and noisemakers are pretty much a must for either type of party, since kids and adults both get a kick out of these items.
Balloons are a cheap way to add some color to your decorating. You can always find balloons in colors that will match your theme. Silver balloons will look classier, colorful balloons will look good for a neighborhood party.