I started thinking about this and realized how the traditions changed as my life did. In looking back over the years, I noticed some basic traditions.
growing up: making tamales and menudo for New Year's Day.
in-between stages:
Spoiler:
1st stage: Hit the bars with friends and take the free taxi home. <-- not much different than regular weekends other than we dressed up better.
2nd stage: Party at friend's, everyone stays the night, and big BBQ in the afternoon on New Year's Day.
transition stage: many different choices each year.
3rd stage: kids now...collectively hire a babysitter for one home, someone's mother /mother-in-law stays the night there with the babysitter, then parents go out to dinner parties and pick up kids the next day. We all contribute to a nice gift for the mother/mother-in-law that stayed the night.
transition stage: family movie marathons/board games.
4th stage: kids older, so host party for them and stay home, off the road, and safe from all the crazies in earlier stages.
transition stage: party time again or out-of-town weekends.
now: stay home (off the road and safe from crazies), watch movie marathons, and sleep in my own bed.
Host a New Year's Day party and serve menudo.