How to budget for a special event

Successful Budgeting For Your Party Celebration

When you are planning an event, budget will play a big part in having an affair that both you and your guests will enjoy. Creating a memorable event is must easier when you have a plan and a strategy for staying within your budget, but it's important to remember that the magnitude of events vary greatly, therefore, no set rules will apply to every occasion.

After you have decided on the type of theme you want for your event and the location, following a few simple tips for controlling the costs of your event will be very helpful.

• Start with a Budget - Be sure that when you are deciding on the budget, you add an extra amount for the emergencies that always seem to come up during preparation for an event. The budget you decide on should be realistic and an amount that you can firmly stick to.

• Organize Yourself - Get a binder or notebook that will hold all of your event related information. Be sure that the binder is large enough to hold the planner checklist, contracts, and information collected on each vendor as well as a few zippered plastic envelopes. These will hold smaller receipts, notes, and cards that you may collect when you are interviewing vendors.

• Your Vision - Make a list and collect photos of what you want your event to look like. With a clear vision you can share with vendors, you will be able to get more accurate estimates of the costs.

• Open A Special "Event" Account so that you can keep track of expenses easier. This will be very helpful if you are writing checks for vendors and need to find one quickly.

• Collect Contributions Early! If you are going to get financial assistance from family or friends, get the money early and put it in your special account.

• Read The Contracts Before Signing - Don't just skim contracts, read them carefully. This is important to assure that you are getting everything you expect for the price you have agreed to as, generally, once signed you are obligated to pay the price agreed.

• Negotiate With Vendors - Vendors expect people to negotiate on fees and prices. If you can be flexible about the date and time of your event, you will have a lot of leverage when negotiating a good price.

• Deposits - Be sure that you are ready to commit when you make a deposit to a vendor. After the deposit is made and the contract is signed, you will be legally required to pay the vendor, even if you don't use their service.

• Get Estimates - Don't take the first estimate.  Get at least 3 to 4 estimates from vendors and let them know you're doing so.  In this way you will get their best price and you will know you got what you want at a price you can afford. 

• Be Creative - You can save a lot of money by using the assistance of friends and family who offer to help. Invitations, decorations, or favors can be made as a fun group project.

• Think About Your Guest List - The cost of your event will be directly related to the number of people that you invite. Consider a smaller, intimate event that will be a memorable experience for everyone instead of the budget buster that leaves you in debt.

• Pay Attention To Expenses - Check your expenses regularly to make sure you are staying on budget. If something costs more than you expected, look for alternatives.

• Think About A Professional - Party and event planners often have a network of vendors that can save you a lot of money. Getting quotes from planners may help you to stay on budget and give you the time you need to prepare and focus on the fun events of your party.

Written By: Jarrod Brake
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