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For parties, whether themed or no theme, run of mill decorations like balloons, confetti, streamers, and banners are not uncommon.  Go to stores like Dollar Tree and find these common decorations at a low cost. Go to higher end stores, like Michael's, to find decorations that match with your theme. Make your decorations unique and inject a little personality by going the decor road less traveled or visiting a local thrift store for decor.  Use pink paper lanterns as a unique, luxe alternative to the average balloon, for example. Use mason jars as center pieces and thrift plates and table cloths to make for an elegant setup for your party and/or personalize them to match your party's overall theme. Party favors do not have to be complex in nature. They can be straightforward favors in their simplicity. They can also be sentimental and come with a lot of thought and effort. While you don't have to have party favors, they are a nice way to leave a lasting impression after a great night.  Fill up a small gift bag with different lollipops and candies. Use a small box to box an individual cupcake. Extra points if the cupcake is the same icing and flavor as the main birthday cake! Gift guests with a notebook and a pen that you can personalize by writing their names on the front of. Make friendship bracelets out of multicolored strings to give as party favors. Create a "mixtape" out of blank CDs and your favorite songs from the previous year. This will be a great reminder of you and a memento of what you guys were probably listening to when you were a year younger. Cater to the needs of any food allergies that might have been mentioned in your invite's RSVP. Kids aren't hard to please when it comes to food so try to keep it as simple as possible, bearing in mind that in terms of importance, food is the icing while the birthday party is the actual cake.  Order party food staples like pizza, potato chips or pretzels, and sodas. Make sure to order a cake, as well as ice cream options. Provide healthy alternatives like vegetable or hummus trays. Simple is good, but options are also good. Consider adding gluten-free foods to the menu as well. Keeping your guests entertained should be the host/hostess's main objective. While choosing to host a birthday party outside of your home may make that task a lot easier, hosting a birthday party from home will mean coming up with ideas of how to keep your guests from getting bored:  Consider group games everyone can play like  Heads Up,  Twister,  Would You Rather, karaoke, and board games . A great way to have fun and to provide keepsakes for guests is creating a makeshift photobooth using an empty wall as a backdrop. Incorporate handmade signs and silly props to personalize the photosets.
Purchase decorations for the party that match your theme. Decide whether or not you want to give guests party favors for their attendance. Decide on a menu for guests. Think of entertainment.