5 Tips To Stay Within Your Event Budget

5 Tips To Stay Within Your Event Budget

Events can get expensive, no matter what type of event you’re throwing. All the little bells and whistles add up quickly and it can get out of hand. We want to make sure you aren’t breaking the bank and are staying within a reasonable budget. 

Here are 5 tips that will help you keep money in your pocket for your next event:

Set a budget and stick to it.

Setting a budget may sound easy, but sticking to it is very difficult. All the little details tend to add up quickly and expenses slowly increase. Set goals for your event in terms of revenues and expenses and list your must-haves of the event. That way you are able to work around those necessities and perhaps cut on other items that aren’t as important. 

Negotiate the price of the venue

Do your research on different locations and their prices, this will ensure you are educated about a fair price for your venue. From there, you can present an offer accordingly and perhaps talk them down the price. If the venue is concerned about competition, they may lower their prices to underbid other venues in the same area. Offer to advertise the facility, ensuring they will get more bookings. This helps differentiate themselves from other competitions. 

Buffet catering instead of a set menu

If you are serving food at your event, consider buffet-style instead of traditional serving. This saves you fees on wait-staff and a set menu. It is much more cost-effective and just as delicious. In this COVID-style world, you can even hire a server to help serve out the dishes, so no one touches each other’s food. Also, try limiting your bar to wine, beer, soda, and juice, instead of a full open liquor bar. If you do have a desire to serve liquor, keep it simple with just a few options. Also, you can trade marketing for food! If there is an up and coming caterer, you can easily lower the price for free advertisement at the event.

Use social media to promote

Social media is free! Even if you do want to promote on Facebook and Instagram with ads the costs are fairly low. If you get people to share your post and get the word out there, it can really be cost-effective. No need to buy sections in the newspaper anymore, when all your advertising needs are at your fingertips. 

Hire volunteers or interns 

Take advantage of free or low-cost help! Whether it’s those who want to give back at non-profit events or students who want to gain experience in their respective industry, try to determine some roles where they will be helpful. This is an incredible way to cut costs and help the community as well. 

These 5 tips are extremely helpful for your next event, no matter what event your throwing. Saving money means less stress and less stress ensures your event planning journey is more enjoyable! Good luck and remember not to break the bank!