Our small family has very few holiday traditions but this is one that we started a while back and it has become a fun tradition. We have a pumpkin carving Sunday. We have several to come over and join us for this event. I have a basket of pumpkin carving supplies that I just purchased at the $1 store or bought after halloween and I just keep them for year after year use. It is a BYOP party (bring your own pumpkin) so we have pumpkin of all shapes and sizes. Some are very detailed and some are just the traditional smiley face.
Why am I tell you all about this? Well, for my family, this fun afternoon cost around $20 but it is full of great memories and fun. I think a memory is well worth $20. Plus, we take all the pumpkin seeds from all the pumpkins and roast them for a great nutritional snack that is expensive to buy. I will roast the seeds in the oven and then bag them up and give them to the carvers that attended the pumpkin carving party.
Everyone has a great time. They leave with a cute carved pumpkin and a memory of laughter. I highly encourage you enjoying the fall with your family and friends. Take a small decorating task and turn it into a family event and share with your friends. 
That is a great party idea for ALL ages!! I love it and hope to try it myself soon