Roll out the red carpet: Head on over to The Quilted Nest in Collingswood and pick up a bolt of red fabric. It doesn’t have to be the fancy (and undoubtedly very expensive) kind they actually use at the Oscars; rather, any type will do. When you get home, roll the “carpet” from your front door all the way down to the street. If your carpet is running over grass, peg it down in as many places as possible to avoid any slipping. If it’s running over concrete, secure it with bricks on the sides (they’ll blend in). Your guests will love getting their moment in the spotlight!

Play paparazzi: Grab a bunch of disposable cameras and assign each family member a guest to go after. As your attendees arrive, shout their first name to get them to look at the camera, and shoot their picture. At the end of the evening, give each guest the camera as a souvenir. Alternatively, you could interview your guests before they enter the front door. Ask them questions like “Who are you wearing?” and “How does it feel to be here tonight?” If you have a video camera, record your “pre show” to watch later. 

Make chicken Oscar: Chicken Oscar serves two purposes at your Academy Awards celebration. First, it’s fancy and delicious. Second, well, it goes without saying that it’s appropriately named. While there are quite a few variation of this decadent dish, keeping it simple it best on Oscar night since there are so many other things to attend to, such as commenting on who is best and worst dressed and fast-forwarding through the endless thank-you speech of the guy who wins Best Sound Mixing. Try this simple but elegant recipe.  

Splurge on champagne: Even if you decide to keep the majority of your awards party budget-friendly, there is no better time to splurge on an expensive bottle of champagne than on Oscar night. The celebrities’ choice seems to be Cristal, which will run you about $250 per bottle. Dom Perignon can be picked up for about $150. To offset the cost of the libations, ask your guests to each bring a bottle of less-expensive champagne. Then, you can have a taste-off to see if the frou frou stuff is actually worth it. Plus, your wine tasting will give you something to do when they cart out the lifetime achievement award winner.

Give them goodies: As a parting gift, give your guests gift bags which you’ve prepared in advance. While celebrities receive swag worth up to $40,000 in their goodie bags on Oscar night, you don’t have to spend a lot to make a major impact. Fill yours with nice-looking sunglasses, “gift certificates” to dinner at your place, “coupons” for babysitting, personal pampering/spa items and whatever else your imagination can dream up. Your guests will be impressed!