This may sound slightly off subject for a moment, but thought it would help you with perspective. A couple years ago, I was driving through a town I used to live in. Without a map or anything else, I found my way to the old apartment (converted officers' barracks, nothing fancy!) where I lived from 18 months old to 3 years old. 25 years later, I found my exact building, just by remembering the place I used to play in. I took out a fastfood napkin and pen, and wrote down everything I could remember about the inside. Walked in, and it was the SAME! (Fresh paint, but the same color....same doorknobs, same dip in the same concrete floor, etc). I told my mom all about it, and how accurate my memory was, because I felt so safe and loved, what a great place to live. I remembered specifically sitting at a child-size tea table (the only table we had in the house, I suppose) with Winnie the Pooh and Raggedy Ann, while mom heated spaghetti o's on the stove and sang "Billy Boy" to me. Mom burst out crying, saying it was the scariest time of her life, we were in poverty in a 1 bedroom apartment from World War 1, and we shared a can of spaghetti o's for one meal, would share a burger another meal, and she was so scared that it would traumatize me or we'd starve on the streets. She ended up marrying my dad and we never did without after that; we were upper middle class growing up, in great neighborhoods and schools. I was MOST happiest and felt MOST safe and loved though when it was me and mom, a team, with everything we really needed (but nothing else, lol). Your children will remember things, but it will be how much they were loved, and the feelings that you invoked, not the actual events. I've actually quizzed my nephew and friends' children (ages 8-14) about birthdays in their pasts, and they really don't remember much of anything until somewhere around school age (1st grade on average) regardless of how involved the parties are.
My son's parties: for his first, I went back home where I grew up, to introduce my husband AND my son to most of my old friends and relatives I don't see often. Because it was more than a birthday party (almost a high school and family reunion combined) we rented the ampitheater (about $60-80) at a local park and set up tables and chairs, had a big dinner (jambalaya, white beans, french bread, I made my own vegetable tray and dip, drinks, cake from Walmart with the free smash cake---about $85-100 for 45 people). I bought a pull string pinata of a number 1. We ate a great dinner, had music in the background (not blaring), talked/laughed a lot, showed off our baby and let him get passed around between the grandparents, the kids played in the playground. After dinner we had cake, changed his clothes while everyone ate their cake, and opened presents.That's the most we've ever spent on a party! His 2nd birthday we attended a school's homecoming parade (he thought it was for him, lol), I made a pumpkin roll with 2 candles in it, a pot of gumbo for friends, and we went to play at a free pumpkin patch. Last year (his 3rd): I'd bought tickets to a dinosaur event just for the 3 of us, thinking that would be it. But kind of last minute, he ASKED for a party (he'd attended several so it was on his mind). I asked "Um, what IS a birthday party to you?" and he said "Balloons, cake, friends." So, we went to the park and got 2 picnic table close together (one for eating, one for gifts and food trays=free). I went to Walmart and got a few balloons filled with helium ($8?) My husband grilled hotdogs on the grill, I'd made a dip for a veg tray I put together, I made cupcakes out of a box mix, we brought his favorite CD, and had a dinosaur pinata hanging from a tree. 2 other kids came, and 3 of my friends: they ate, played on the playground and chased each other around, fed the ducks, and hit the pinata. That was it. I felt bad that it was thrown together so last minute and no other kids came (though I'd invited 6 other kids). Thought I'd failed him somehow. But at the end when we were picking up everything, he stood on the bench so he could look my friend in the eye and said "Thank you come my party" and when we got home he told me he had SO much fun. I say don't hire someone else, and don't make it more work than it needs to be!!! A few games when they get older, some food they don't normally eat, and a lot of love is all a kid needs. (Well, and my son says balloons).