The best way to throw a dream graduation party is frugally (without going bankrupt)! You need many things for a party, including tables, chairs, tents, paper products, food, drink, and decorations.
Buy Them And Write Them Yourself
Writing out invitations is what I would consider old school. Buy a generic (and pretty) graduation invitation and write it out yourself.
Skip all the formalities and go straight to Facebook. Many people are already there anyway and you could save time and money by creating an event and inviting everyone!