If you cannot afford to bring a gift then it may be best to bring nothing at all and just try and blend in to the party. It’s New Year’s and everyone is pretty broke after the holidays so it is understood that most people are not going to have a whole lot of extra money for party gifts. For a New Year’s party most hosts would not feel that no gift is an insult because New Year’s is not a traditional gift giving time anyways. What many people do bring that are low on funds is something like a bunch of inexpensive party hats or even some inexpensive noise makers to distribute to the people at the party. That would be a great way to get a New Year’s party gift without spending a lot of money. Every New Year’s party needs more hats and noise makers.
There are many things that make the perfect gift for the hosts of a New Year’s party and you can choose to get a gift that is specifically for the hosts to show your appreciation. A bottle of wine is always a wonderful gift as long as it has a cork and not a bottle cap. For some reason red wine seems to make a more accepted gift than any other so you may want to stay with that. You may want to avoid bringing champagne as I am sure the hosts have plenty of that for their New Year’s party. Many people like to start the New Year off with a good book so perhaps you could bring a copy of one of your favorite books as a gift to the hosts. It is always good to be exposed to new authors and a new book for the New Year is always a great idea.
If the party is going to be a large party then bringing a gift that is to be used at the party may be difficult. However if you know that the hosts like things like board games then it never hurts to bring a new board game as a gift. That can double as either a gift for the party or a gift specifically for the hosts. You may want to avoid giving music as a gift because at a party the hosts usually have already chosen the music to be played and anything new would just sit on a table somewhere.
Finally it is never a bad idea to send a thank you note to the hosts after the party just to thank them for hosting the party and inviting you. A little thank you note is not a bother and can ensure that if you really enjoyed yourself at their party then you may get invited to the next one.