1st birthday party!

Any other moms thinking about NOT having a party for their little one? We aren't so great financially right now, and I just don't want to spend so much money on a party when she's honestly not going to remember it. Not to mention we are due to have baby brother in October. I don't want to seem like a horrible mom because I don't have a party, of course we're going to celebrate her bday but just not with an extravagant party. I need some ideas on what to do? We will have cake and take her to choose a toy of her liking, but other than that I really don't know what we could do with a 1 year old? Besides her bday is July 31st and it is so HOT in Houston during that time. Please help??