Hopefully not spending $500 on fireworks again, but then again I'm a sucker for New Years.
Our tradition is family and friends have a fancy dinner, everyone in their nice clothes, 7pm, finish dinner and wait for Iceland's yearly comedy show making fun of the years news stories at 10:30 to 11:30, soon as that show is over the crazyness of fireworks, we all go outside and narrowly escape many explosions.
Usually in bed by 4-5am.
http://live.mila.is/english/newyears/