The Academy Awards^® are my Super Bowl. Don’t get me wrong. I’m a football fan – but I’m an even bigger movie fan. I love everything about the Oscars^®. When else can you hang out with friends, critique red carpet fashion, play Oscars bingo, cheer when your favorite actor wins, and groan over the host’s bad jokes? Throwing an award-worthy Oscars party can get expensive though.

As with every party we throw, my husband and I agree it’s important to set (and stick to) a budget. So with fun and financial responsibility in mind, here are five tips to help you throw your own award-worthy, budget-friendly Oscars party this March 2nd:

1) Use digital invitations.

• The invitations on Evite are beautiful and free! Check out the great selection of Awards Party designs here. Best of all, Evite keeps track of RSVPs and emails you with updates as guests respond.

•  Paperless Post has really cute free Awards Party designs too, and you can earn “coins” for sending e-vites. You use the coins to “buy” premium designs. Browse their options here.

•  Creating a Facebook event is another way to avoid the cost of paper invitations and stamps, especially if you don’t have email addresses for all of your guests.

2) Play fun games.

• Predict the Winners is a fun game and makes every category exciting – even Sound Mixing.  You can play online through Facebook or download the free printable ballot. The official Oscars ballot is available here. I just download the ballot and print enough copies for all my guests. Budget hack: instead of buying prizes for every category, award just one grand prize for the most correct guesses.

• Oscars Bingo is a great game too – and everyone loves bingo! I found 15 free bingo cards here that are filled out and ready to print. If you’ve got more than 14 guests coming, write out the options and have people fill in their own boards. Bingo has one winner so you only need one prize!

3) Think outside the box for décor.

• Repurposing items or DIY decorations is an inexpensive way to add oomph. Cut stars out of red, gold, and black paper. You can hang them from the ceiling with curling ribbon or tape them straight on mirrors, walls, doors, etc.

• Plastic tablecloths are $1.99 at Party City and come in lots of colors. Fold one in half and double-sided tape it to your floor for an easy red carpet. I like to hang a few on the walls as a backdrop. Tape on a few stars and it’s picture perfect! Make a doorway instantly dramatic by hanging two red tablecloths as curtains. Or just drape one in the doorway and cut it to make fringe! Can you tell I decorate with plastic tablecloths a lot?

• Nothing makes a party more festive than balloons. Skip the helium; blow up a pack by yourself, and leave them scattered on the floor. A few helium-filled ones outside the front door are a nice touch.

• If your budget allows you to buy some items, try to pick neutral ones you can reuse for other parties. Instead of hanging spirals that read “Hollywood” try blank gold stars. They’ll work great for New Years and birthdays too!

4) Everyone loves a good potluck.

I really love to cook, but it takes a lot of time and money to create a whole menu for a party full of people. Not to mention the stress of getting it all done. By having a potluck you take pressure off yourself and you let everyone else show off their cooking skills. It’s a win-win.

5) Pick a theme…any theme!

A theme is a great way to make your party feel special. Go Classic Hollywood with red, black and gold, or choose Red-Carpet Style and everyone can wear their best “budget couture.” This year the Academy is celebrating the 75^th anniversary the Wizard of Oz – so have a yellow brick road instead of a red carpet! The options are endless.

Themes are also a great way to get creative while sticking with your budget. The year we had unexpected medical bills, my Oscars party budget was $25. I threw a pajama potluck party – everyone was invited to wear their comfiest PJs and bring their favorite slumber party food. I decorated with pillows and blankets, made pancakes, and gave away boxes of Bioré nose strips as the grand prizes. And everyone had a blast.

Throwing an award-worthy party does not have to put you in the red. Roll out the red carpet, sit back, and enjoy the show.

What’s your favorite party budget hack? Tell us on Twitter or Facebook!