These days, everyone’s pinching pennies, but that doesn’t mean you have to sacrifice on holiday entertaining.

“Creativity, warmth and delicious fare are what count most when it comes to entertaining, not spending a lot of money,” says Dina Cheney, author of “Tasting Club: Gathering Together To Share and Savor Your Favorite Tastes” ($22, DK).

“Your guests will remember how welcome they felt and the hysterical joke they heard, not that you spent $100 on a particular bottle of wine,” Cheney says.

It all starts with a killer theme.

For a frugal BYOB, host a wine-tasting party. Print off tasting cards, and vote for the top vintage or most unusual label. In lieu of a traditional potluck, ask each guest to bring a mystery ingredient and create your own “Iron Chef.”

How about a chocolate-tasting party? Have each couple bring a box of indulgent sweets. Whip up a batch of exotic chocolate-chili brownies, and serve flavored mochas instead of cocktails.

“Come up with a theme so fabulous that its novelty makes up for the low cost,” Cheney suggests. “Plan a party that you yourself would enjoy. Stay focused on the vibe, and don’t stress out about the details.”

Scale Back

Don’t get caught up in impressing your guests with a five-star meal. Sometimes simple is better and less really is more.

“It doesn’t have to be a lavish dinner,” says Louise Reilly Sacco, co-host of “Frugal Yankee” on radio station WNTN, serving the Boston area. “People make the party, not food, drinks or decorations.”

“Beer and snacks, cider and cookies or wine and appetizers are all very good ways to entertain, and you’ll have more time to enjoy with your guests when you don’t have a colossal production in the kitchen,” Reilly Sacco says.

Also, be mindful of how much you serve. As Mom used to say, you’re not feeding an army.

“Most of us end up with a refrigerator full of leftovers, begging our guests to take food home,” Reilly Sacco says. “You know some of your friends are going to bring things. You know you always have way too much. Think about how much was left from last year’s party, and cut back.”

Presentation Is Everything

Know when to splurge and when to save.

Choose one expensive food with a big wow factor, and think thrifty on the rest, say Barbara Nowak and Beverly Wichman, authors of “The Saucy Sisters’ Guide to Wine” ($14, NAL Trade).