Water Mill Party, a party rental business based in Water Mill, NY, that provides "the best in party products and props" for high-end Hamptons events—many of which are charity fundraisers.

Owner Christine Merser says that surprisingly, her company actually had more parties booked ahead of time for 2009 than it ever had a year in advance. 

"I think people were trying to lock pricing in," she explains. By reserving in advance, she adds, clients also had more time to save to pay for the events.

Saving on fundraisers

Here, Merser offers some budget-friendly party ideas that can be especially useful if you're on the committee charged with planning a huge fundraising gala, or a business holiday party or other business event.

Use what your vendor has on hand: Some planners of fundraisers or business galas want their event atmospheres to be nothing short of dazzling. That can mean custom table linens, ceiling fabrics, or special props. "We tell organizations if they let us use products that we already have on hand," rather than having to add to our inventory, "we can give them a better price per person."

Image courtesy of Water Mill Party