what's best but cheaper to have? a party at school or ay home?

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My 5-year old daughter will be celebrating her birthday this coming 27th. I am thinking if she'll be having a party in school with classmates and have a simple family gathering at home or if she'll be having a party instead with friends, schoolmates and family all together? I'm thinking of saving some money from expenses as I am really tight with my budget but would really want to give her a memorable time. HElp!