My suggestion is start with a theme based on what your daughter likes and plan your party around that. If she is into Hannah Montana, do a rock star party with singing and dress up. You can do a bling party and have the girls make jewelry with beads and glue on gems onto hats or little purses from the craft store (plus, those count as your party favors). You can do a luau/beach party and set up or go to the pool. The possibilities are endless and you can easily do things on a budget (no need to go and buy the expensive "theme" party supplies...unless you really want to. Also, get your daughter involved in the prep work for the party. Once you have your theme picked out, google party ideas for that theme and you'll find a ton of inexpensive diy ideas for games, crafts and decorations.
If you need more suggestions, after picking your theme, feel free to message me.