Tips to stay under budget when planning your event
Planning an event can be quite expensive. There are many different aspects that need to go into any event to make it as successful as it can possibly be. A strategic event planner wants to exceed guests expectations while also trying to stay under budget. Listed below are tips in staying under budget when planning your event.
Pre-Determine Expenses and Funding
This goes for anyone planning an event, especially if you are hiring a professional to plan and map out an event for you. If you are hired to plan an event, you should ask your client their price range and how much they would be willing to spend on the event. As an event planner, you should follow their wishes and try to save them some money while doing so. If you are planning your own event, you should set aside a money limit for how much you are willing to put into the event. Having this price range will keep you centered when spending money. Aiming to not spend as much as your highest money limit is doable when purchasing high quality, yet affordable, items for the event.
Event’s Needs, Not Wants
Prioritizing the event’s needs, and not wants, is crucial. Having a list of what the event needs to have and then purchasing those aspects first is important. After all those needs are purchased, and if you are still under budget, you can then add the wants if you still feel like doing so. If you just purchase the needs for an event, it could save you money and be under budget because all the unnecessary wanted items will not be present. Sometimes when it comes to an event, simpler is better. An event can exceed expectations even if it does not have every single thing in the world present at the event.
Physical Event Checklist
Having a physical or electronic checklist that an event planner can review is essential. All the aspects and items that are needed to go into the event can be listed in this checklist and the event planner can check off each aspect once it is covered. A checklist helps in productivity because the event planner can see what they need to purchase for the event and can cross it off once money has went towards it. For example, if someone is hosting a kids birthday party event and needs a party planner, bounce house rentals, and water slide rentals, they can write this down to remind themselves of it and then cross it off once these aspects have been dealt with.
Form Of Payment
How are you going to pay off your event? Are you going to pay it off with cash, a check, a credit card? The list goes on. It is important to know what payment plan you are going to use when it comes to the event and how you are also going to pay the event planner, if you are using one, for not only what they are going to purchase, but also for the work they personally do to put together the event. Having a plan for last minute expenses is needed because if there are any aspects that are left out and need to be brought to the event last minute, you need money in place to cover these last minute necessities. Without a payment plan, events can become messy and unorganized. Staying as organized as you can when planning an event will help in decreasing worry and stress for perfection.
Self-Made Event Items
If you are hosting and planning your own event, you can make your own items for the event to save money. For example, instead of hiring a caterer, if you know a family member that can cook well, or you yourself can, you can make the food for the event and save money. This can also go for the party planner, bounce house rentals, and water slide rentals kid’s party situation. To save money, you can be your own party planner and make the event decisions for yourself. As long as you stay organized with the price range and budget, this is completely doable. As your own event planner, you can look up affordable rentals for yourself or see if any friends or family members have slides and or bounce houses that you can borrow for your event.
It is possible, and actually very easy, to stay under budget for an event if you follow some of these tips provided. An event is only as successful as you make it, and by following some of these tips, you will exceed expectations while also staying under budget and saving some dollars.