Planning the Party Budget

Planning The Budget For Your Party

Planning a party is great fun for most people. However, creating lasting memories for the attendees can often be a challenge for a person who is on a strict budget. The party or event that you are planning may require some creativity, but can be more easily accomplished when you take time to do some pre-planning

Following these simple steps will give you the control that you need to make changes where needed.

Budget - Set a budget that you can commit to. The budget you set should include all of the costs of the event, plus a percentage for unexpected expenses.
Organization - You are going to need to notebook or binder that will contain all of the information, receipts, and estimates for your event. Adding zippered plastic pockets to the binder will be a great way to hold onto smaller receipts and notes.
Vision - Before you start getting estimates for your event, be sure that you have a clear idea of what you want to accomplish and a list of the items that includes photos of what you need to include in your plans.
Money - Think about opening a separate bank account for your event. You will find that if you have an account that contains the budget you have allocated, it will be much easier to control your funds. Also, you will have an easier time finding copies of checks written if all of your expenses are kept in an account that only has your event expenses in it.
Financial Assistance - It will be easier if you get any money from contributors before the event. Putting this money in your special bank account will assure that you know how much money you have to work with.
Contracts - Be sure to read contracts carefully. Getting estimates from different vendors before you reach the contract stage will be important. However, when you get a contract review it carefully. Most contracts will have fine print that can potentially cause problems for your event. Therefore, reading all the fine print will save you time and money.
Negotiate - Planning your event during an off-season, or at a time when this type of event does not normally occur, will give you great leverage for negotiating a lower price. Most vendors expect some negotiation on their prices, so rather than agreeing to the first price quoted, talk to the vendor about how to lower the price of their services.
Deposits - When you make a deposit to a vendor, you are legally required to pay the total amount. Be sure that you are certain you want the services of the vendor before you pay a deposit.
Comparison Shop - Don't settle on the first vendor that you talk to. Get estimates from several vendors before making a final decision about your final purchase. Getting 3 or 4 estimates will provide you with the information you need to get the best quality and lowest price from the vendor you choose.
Be Creative - Take advantage of the friends and family that want to help you with the event. Be sure that you allow other people to help you be successful.
Guest List - In most cases, small, intimate events are much more memorable than large ones.
Budget-Wise - Divide the total cost of your event by the number of people you are inviting and you will have a good idea of how much you can spend on food, gifts, etc., for the guests. Check your budget regularly and make adjustments to it as needed.
Planner - Many people find that using an experienced party planner or event manager can save a great deal of money for their event. Most planners have a network of vendors that they work with that provide excellent services at the best prices. The planner will take pressure off you so that you can focus on the coming event. If you are going to use a party planner or event manager, it will be important to get a firm quote and that they have a reputation for reliability and dependability.

When planning the party or event, it is important to remember what your goal is and stay within your budget to reach that goal. Successful events are not determined by the amount of money that is spent in preparation, but rather the memories that are made by the family and friends you are including in the celebration of your milestone.

Written By: Jarrod Brake
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