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Event Budgeting!

Thinking about your next event but don't know where to start? Here's a hint, start with creating your budget! Budgeting can sound intimidating for various reasons, so we try to avoid creating a budget altogether. Let me be the first to tell you DO NOT AVOID IT! This is the biggest mistake anyone can make, because creating a budget can actually save you in the long run.

When it comes to budgeting for an event there are several areas you need to create a budget for hands down. In this post I will list 3 of the biggest areas to budget for that will help give an idea of how to plan for your next event, with minimal headaches when it comes to spending your hard earned money!

  1. Venue Budget - The venue budget is, or can be the biggest cost when it comes to planning an event. My first suggestion is to set the amount you want to spend, and try not to go over that cost. After you have set your amount, start looking around to find a venue that will accommodate the type of event you are looking to have, this is also important because you have to have an estimated headcount of your guest and if you read my previous post you would've read about how much of a pain it is to get people to RSVP. Most venues have a certain occupancy that they are allowed to accommodate, so you really have to be realistic and truthful with the venue you are looking to book for your event. And remember the venues price is their price just like your budget is your budget, this doesn't mean you cannot ask the venue if they have special pricing, but try not to lowball them either.

  2. Food Budget - The food budget can most definitely be the second biggest cost for your event. With this again you have to consider the amount of guest you will have to feed and go from there. Sometimes it can be easier to hire a caterer for your event, but you will need to keep in mind that some caterers charge per person whereas some charge per pan, I personally think that the per pan price sometimes comes in a little cheaper and you are able to stretch the food. My first question or suggestion is "Can your family help by bringing a dish to the event?", think about it if 4 to 5 people volunteer to bring something different, that can ultimately feed everyone attending the event. Also keep in mind this budget will or should include your refreshments, water, juice and soda as well as your utensils, cups, and napkins. PS you should also create a budget for alcohol and everything that comes with that.

  3. Decorations and Set up Budget - Décor, Décor and more Décor, this can be the third biggest cost for an event but can also surpass both the venue and food budget. There is so much to decide when it comes to décor and set up, first you should figure out your theme, will this theme be a simple set up or is it crossing over into being a grand production?, will you do the decorations on your own or will you hire an event planner to execute your plans? Something to consider when you opt to DIY is your time, will you have enough time to have the venue completely setup in time for the event to start as well as will you be pressed for time getting yourself ready for your event? I've witnessed this so many times where the host of the party end up running behind with the set up and then having to run home to get ready to come back to party and leaving me to host, which I absolutely do not mind at all!

I hope you enjoyed this post as much as I enjoyed creating it. If you are interested in booking your next event with me, please feel free to contact me directly and we can create a budget friendly event that will blow your guest away!


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