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Let Jamie Foxx School You On How To Party On A Budget

Jamie Foxx's money-saving party lesson for Diddy may work for you, too.

To throw a good party, it is assumed that one must have a hefty amount of resources (a.k.a. money) to make it happen, right? Maybe not. Especially not if you ask Jamie Foxx, who might as well go ahead and become a freelance financial advisor. During a sit-down session with on The Late Show With Stephen Colbert, the triple threat entertainer reflected on the time he had to school Diddy, the king of elaborate situations, on how to throw an incredible soiree without breaking the bank.

Foxx attended one of Diddy's multi-million dollar parties and challenged him by saying he could throw one that was just as good for a fraction of the cost. "'You are out of your mind,'" Foxx remembered telling him. "I said 'Puff, I will throw you a party for 400 bucks that will rival this party.'"

Naturally, Diddy was a tad offended, but eventually bewildered after seeing "200 of the coolest people" milling about Foxx's humble home, dining on the finest fried chicken and soda in Los Angeles. "I said 'Puff, look over there on the dinner table, I got Kentucky Fried Chicken," he said. "I put it on a nice plate...I got Coca-Cola. I put it in a pitcher. We are at $208 and we are killin' it right now.'"

Killing the game, indeed. Watch the entire conversation, packed with hilarious impressions of JAY-Z, Kanye West and other famous friends.

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