Keep a Budget $$$

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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!

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3 responses »

  1. Good advice! I never would have thought to consider something like hiring a clean-up crew, but having plans in advance for that would really make things easier – especially for a really large function like a wedding.

  2. I think you really thought of all the big, main expenses that go into planning an event.I know that not all clients are easy to work with, and some just want more than they can afford. Saying that you’re working with someone else’s money what would you suggest to a client who “has champagne taste on a beer budget” so to speak?

  3. Sam, this is a good question and I brought up this point so event planners don’t go over budget when they are using someone else’s money. For someone who “has a champagne taste on a beer budget” I would suggest they think of all their options. Sometimes quality is better than quantity, but for others the quantity is what is necessary. (That’s why it is important to keep a budget.) When planning an event, you need to know you’re expected number of guests so you don’t have too much or too little especially if the items you are purchasing are expense.

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