Patrick Cuccaro, general manager of Affairs to Remember Caterers, in Atlanta:
Slow-cook. You don’t have to serve lobster to have a memorable dinner party. Stewing uses inexpensive cuts of meat, but the results taste great and you get to spend more time with your guests. For a beef-and-shallot stew recipe, visit www.realsimple.com/beefstew.
Serve premium ice cream and skip costly desserts. Or fill a fluted glass with an inexpensive Prosecco (Italian sparkling wine) and drop in a scoop of sorbet.

Bob Luskin, proprietor, Bell Wine & Liquor Shoppe, in Washington, D.C.:
Buy wine by the case. Many stores will give you a 10 percent discount. You may not want 12 bottles of the same Chablis, of course, so ask the manager if you can mix different wines in a discounted case.