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My parties here at school are the stuff of legend, I shit you not.
We always operate under the following assumption: if you didn't bring a significant amount of booze, beer or food with you, you pay. If you did bring booze (good booze), we waive the cost of entry. If you helped me clean my house beforehand or helped me set up, we waive the cost of entry and the booze requirement, though beer is appreciated in that case.
The best thing to do would be find a friend with a good credit card and use that, then collect money at the party to pay it off. Also, don't forget to calculate the cost of mixers--margarita mix, Coke, OJ, cranberry juice, lime juice, triple sec. Do not have a party and expect girls to drink if you are going to serve just beer or straight liquor--bitch beers/mixed drinks/wine is a must. Also take glassware costs into consideration--do you have a lot of existing glassware, are you going to need to buy plastic cups? Furthermore, to make your liquor last longer (and decrease the amount of sickness present) premix some of the drinks in iced tea containers (the glass jars with spouts on the bottom). Also, don't be afraid to buy cheaper liquors if they're just going to be used for mixing (ie McCormicks vodka instead of Skyy) as most people can't tell the difference between two in a good Cosmopolitan.
Also, learn how to make a few drinks beyond the usual rum and Coke--that never hurts. I am famous for my frozen strawberry margaritas and Cosmopolitans...my Jello shots are legendary for being insanely strong yet delicious. (Note on Jello shots: if you can, find the little ketchup cups like they have at Arbys. The smaller the better for consumption's sake. Secondly, be very aware of what flavors go best with vodka. I recommend orange and lime. And use a cheap mixing vodka like McCormicks--it's not worth the cost of something more.)
As for food, I would go the frozen pizza/take-and-bake pizza route. Easy, fun, and easy to clean up, more importantly. Having some chips out and around is also a good idea. So are lots of trash cans. Lots of trash cans.
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If I am not better, at least I am different. --Jean-Jacques Rousseau
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