Keep a budget!!! Before you start to plan an event, think about how much money you can spend on the event. Depending on if you’re planning an event for someone else (using someone else’s money), or your own, think about how much you want to spend. When compiling a budget keep in mind the following aspects: location security deposit or location fee, decorations, food & drinks, entertainment, security, cleanup crews (any workers/volunteers), invitations or advertising.
Location fee: As I said before, when planning the event and looking at locations make sure you can afford to have your event at your desired location.
Decorations: Any event you’re planning should have decorations, whether it’s a wedding with flowers or a birthday party with streamers and balloons. Remember to reserve enough money to have decorations. Some people may go a little crazier than others, but when shopping for decorations stay in your budget and don’t make excuses to spend more money than you need to.
Food & Drinks: Every event should have food or drinks. This year I planned a two-mile run and was required to have water present at the event, so it’s important to budget for food and drinks just in case of an emergency. It’s also a common courtesy to have food and drinks at an event especially if your event is more than two hours.
Entertainment: Remember to budget for entertainment. Whether it’s a band for your wedding, a deejay for dancing, or a clown for your son’s third birthday party it’s important to remember that people get bored easily and need to be entertained.
Security: Large scale events are going to need security. Whether you hire police officers or bouncers to work the entrance of your event, security needs to be present. With that being said the security most likely isn’t going to work for free so make sure you budget enough money to pay for their services and even tip them if they do a good job.
Clean-up and Set-up crews: usually the clean up and set up is done by volunteers but for larger events, hired help might be necessary.
Invitations: Like the decorations, you should budget for invitations or flyers to advertise for an event. For even larger events paid advertisements might be necessary to attract more participants.
Happy planning and save money!