Today we’re going to party like it’s 1897. So, pretend you’re loaded. No, I mean with money. Though alcohol fueled many of the Gilded Age’s most deliciously decadent moments. Like the evening when former president Ulysses S. Grant was so lit up at a party in New York that he stuck the lit end of his cigar into his mouth.

No, I mean pretend you’re so loaded that you can drop $8.5 million on one big blowout ball, just to show everyone else in society that you could outdo Caroline Astor, as Cornelia Bradley-Martin did. Then, when the press denounces you for this outrageously self-indulgent abuse of privilege, you move to England. But not before throwing a farewell party at the Waldorf-Astoria for your closest friends, and spending $2,668 per plate as one last slap at your detractors. 

      Bradley-Martin Ball of 1897. Harpers image via Wikipedia

This would be an appropriate time to give another tip of my metaphorical top hat to Greg King’s magnificent chronicling of the wonderful and wacky wealthy in his book, A Season of Splendor.

And here’s our lesson: If you’re going to throw a party, realize it’s not about how much you spend on your family and friends, but how much you value them.

What people enjoy and remember most is the engaging company and conversation shared. Yes, you want a few bottles of good wine and some tasty food, but again, this can be achieved without having to close all of your off-shore bank accounts.

If nothing else, our Gilded Ones teach us that too much money can devour all rationality from your brain. By the early 1900s, much to Madam Astor’s abhorrence, her exceedingly rich colleagues had perfected their pursuit of decadence with exquisite relish.

In the here’s-your-brain-on-mad-money category, one couple threw a Circus Ball, where an elephant wandered the house solely so that guests could feed it peanuts. Then there was the acclaimed Dog Dinner. Of the 200 guests, 100 were lavishly costumed canines accessorized with jewels such as a $315,000 diamond-studded collar. Liveried servants, of course, served a three-course feast of “stewed liver and rice, fricassee of bones, and specially baked biscuits.”

Even if you are fortunate enough to earn an income in league with the Astors and the Vanderbilts, just because you make a lot of money doesn’t mean you have to spend a lot of money. Like my cousin’s husband always says, “Save till it hurts, then save some more.”

Or invest, donate, pay down debt… Just don’t go crazy on those cotillions.

After all, our Gilded Agers were so enamored of turtle soup at their constant sumptuous soirees that they are single-handedly credited with driving the terrapin to extinction.

Christopher Johnston has written for American Theatre, Cleveland, Continental, Crain’s Cleveland Business, Editor & Publisher, The Plain Dealer, Progressive Architecture and Urban Design, and Scientific American, among other publications. He is currently writing a biography of Frederick C. Crawford, founding chairman of TRW Inc. As an avocation, he is a playwright and director, and this December, his play APORKALYPSE! will premier at convergence-continuum theatre in Cleveland.

If you possess ranked-by-Fortune-magazine money, you want a comfortable home... or two. And you should. But, if you have to spend $70,000 in 1889 dollars or $1.4 million today to build a railroad spur to transport construction supplies to the site, you should probably think twice, no matter how much you’re worth. Wouldn’t you agree, Mr. Vanderbilt?

       Image courtesy Wikimedia Commons

Nevertheless, George was the man who built Biltmore in Ashville, North Carolina, a strange and sad tale of uber opulence that is beautifully detailed in Greg King’s book, A Season of Splendor. Construction lasted six years, and at its peak cost $900,000 a day. Total cost for the 175,000-square-foot, 255-room mansion with an 800-foot-long façade on 125,000 acres was $6 million then, $120 million now. More than 100 years later, it remains the largest private house in America.

Old George’s experience reflects what many of us less-rich know: Contractors can let you down, no matter how gilded your age or your cage.

For instance, one morning, George learned that despite having spent millions on his manse, the plumbing had broken. He did what any self-respecting Gilded Age home owner would do, he departed for a tiger hunt in India.

According to one account at the time that King cites, George had actually learned that the troubles at Biltmore ran deeper than bad pipes: “The sunken foundation, the cracked marbles, the idle sawmill, the unproductive dairy farm, the expensive forestry school, the unprofitable truck farm, and all the failures that had been pointed out came rushing in on him. He could have stood all of these, but he could not stand this climax: he had spent $10 million on Biltmore, and he could not get a drink of water.”

So you have all of this money – $260 million in today’s dollars when he started the project – but you feel that you should build this immense monument to your wealth. Whether it’s a Gilded Age mansion or a suburban McMansion, it’s not necessarily the best use of your funds.

When George died prematurely from a ruptured appendix in 1914 at the age of 52, his net worth had dwindled to $23 million ($1 million then), all from “having expended his life and his fortune on the great baronial chateau in the wilds of North Carolina.”

Nothing wrong with having your home represent a significant portion of your net worth. But don’t get carried away like Old George did. Sure, it’s now a popular tourist destination, but it didn’t bring him the joy and serenity that a house should give its owner. Ultimately, that’s what makes a house a sustainable home.

Perhaps, Mr. Vanderbilt, you should have named it Biltbetter.

Christopher Johnston has written for American Theatre, Cleveland, Continental, Crain’s Cleveland Business, Editor & Publisher, The Plain Dealer, Progressive Architecture and Urban Design, and Scientific American, among other publications. He is currently writing a biography of Frederick C. Crawford, founding chairman of TRW Inc. As an avocation, he is a playwright and director, and this December, his play APORKALYPSE! will premier at convergence-continuum theatre in Cleveland.

Following in the video game rock star phenomenon of Guitar Hero and Rock Band, DJ Hero was introduced as a way to scratch, fade and funkify your video game console into an interactive turntable. With versions available across all major gaming platforms, DJ Hero is an easily accessible party in a box for the whole family.

Being a gaming geek, I visit video game sites often, and I received an e-mail recently about hosting my own DJ Hero party. It promised I could score my own DJ Hero game for free, which instantly intrigued me, so I clicked for further information. It took me into Houseparty.com, a site that I hadn’t visited prior, which confirmed the offer I had received. After perusing the site, it became apparent that I had stumbled onto awesomeness. Houseparty.com works with companies that are looking to get additional exposure for their products, and since the power of social referral is invaluable, they use the party scene to get the word out. I was a bit skeptical because if things look too good to be true, they usually are, but throwing my thoughts aside, I filled out an application to be a party host. I answered questions about the potential audience at my house and my party “cred.” Unfortunately, I didn’t get additional points for being “overwhelmingly handsome,” but I felt it was worth noting.

Excitingly enough, days later I received verification that I had been accepted to host a DJ Hero party at my home! I was ecstatic and realized that I would be getting not one, but two turntables, a case of Coke and two copies of the game. Was there a catch? Nope. Just that I would have a party; and let’s face it, that’s way more fun than work anyway! I then e-mailed Activision asking to see if they had any leftover swag they could send me to provide my party guests and was happily rewarded with hats, t-shirts, key chains and lots more.

So if you’re looking for more than just a handout sample of cheese at the grocery store, and have your freebie sights set a bit higher than a BOGO on shoelaces, then check out Houseparty.com for the many party opportunities they have listed on the site. I’m thinking about changing my name to DJ Rocking Ryan – too bold? I’d be happy to take suggestions, so send ‘em on over! Peace out and party on!

Ryan Zimmerman – Credit.com staff member and official Deals, Steals and Freebies Contributor, Ryan shares his unique insight and tips on saving money by finding the best deals and freebies on everything from groceries to video games. He may look funny, but he's serious about saving dough!

My heart starts beating, it pulsates in my chest like a tribal drum. I get a little twitch in my eye that lets me know I'm getting closer. Picking up my pace from a brisk walk to an all-out sprint, I make a beeline to the end-cap on the aisle and as I near it, I see the words “Clearance.” I dig frantically through the red stickers, looking for the savings we all crave. I scoff at 20% off, and dig further to get to the real treasure: the 75% and even the 90% off items. It’s bargain-hunting in its finest form and, frankly, it never gets old.

Saving money is awesome. That statement is not profound, it's straight and simple. The thrill of the hunt and the discovery of something you actually want for a fraction of what you thought you had to pay for it is an excitement all its own. If this strikes you as overzealous and odd, maybe you haven't found the bargains that cause such a reaction. That's why I'm here.

Watch this space for success stories and simple tips to get you the best bang for your buck. I’ll share past “wins” I've had in saving money and landing the ultimate deals, like getting a DJ Hero party set for my Playstation 3 (a $120 value) for absolutely free, as well as free concert tickets, movie tickets, hotel rooms, music, and more.  I’ll walk you through the steps and show you how easy it is to strike a great deal.

In the meantime, here are some general tips to start thinking like me:

• Review the best deals online. If you plan to make a purchase, do some price comparisons to avoid buyer’s remorse.

• “Like” your favorite Credit Experts, restaurants, stores, etc. on Facebook. You’ll be notified of special promotions that way.

• Free trials are your best friend.

Ryan Zimmerman – Credit.com staff member and official Deals, Steals and Freebies Contributor, Ryan shares his unique insight and tips on saving money by finding the best deals and freebies on everything from groceries to video games. He may look funny, but he's serious about saving dough!