How to budget, or save for the big event
Big days and special events don’t fall on your calendar now and then so you tend to dream of making it bigger, yet affordable.
But many of you are missing the clues on how to do it the pro way, right?
When you have an event coming up close, you have a lot of things left unmarked on your to-do list. Some due to improper planning, others due to insufficient budget. So, to avoid getting in such situations, pre-plan the event in advance starting from the budget to organizing the resources.
Take a couple of saving plans or start saving from your income for your big events to avoid any inconveniences during your special big event.
Things to do when planning an event
Set a budget- Before stepping into the planning phase, set a budget for your event. This budget will help you prioritize things and cut down on unnecessary expenses and you will be able to organize an affordable event in no time.
Save from your income- There is no such thing as the right time to start saving.
You can save anytime. But the sooner you save for future events, the better it is as it helps you grow your money, eventually making you financially sound for future events and ready to tackle any challenges that might come your way.
After all, a penny saved is a penny earned.
Start planning- Once you have set your budget start planning by making a schedule of the things you need to do to make your event a big success. Once you start planning, look for inexpensive options and make your event super budget-friendly. There’s no finding a way until you start planning what you need to do. You can’t just build a castle in the air and reach your goal by doing so. Plan your steps, organize the resources and get into action.
Make a checklist- Make a checklist of the things you need to do to make your event a big success. This checklist may include shopping, booking a venue, setting a date, and looking for the facilities that you would be requiring for your big day. Once you are done making a checklist, you can take your time to explore the less expensive and avoid spending too much while setting up for your big day.
Location- Look for a budget-friendly event venue location. Explore as many options and choose the one that suits your budget the best. Don’t put too much pressure on your pocket, and choose wisely.
Make a guest list- Make a guest list and look for a venue that is decent enough to host all of your guests without consuming too much of your budget. Keep your guest list short and look for a venue accordingly.
The shorter the guest list, the lesser the event cost would be. Do not put too much pressure on your shoulder of calling your whole society to your function if you do not have a sufficient budget for doing so.
Only invite important guests and close ones and cut down on unnecessary costs.
Type of event- Your budget depends upon the type of event you are planning. If you are planning a big event, a year of saving would not be enough, start saving sooner than that. In short, save for future events.
But if you are planning a small event, you can save gradually.
Shop from wholesalers- Explore your options and try to buy the necessary resources from wholesale shops. These are more affordable and there is no compromise over quality, so you need not worry.
Eliminate unnecessary expenses- Eliminate unnecessary expenses from your checklist, do not exceed your budget over pomp and show. Prioritize necessary items and exclude the unnecessary ones from your checklist.
Keep it simple yet classy.
Choose simple yet trendy decor- Do not try to overdo your event decor. You can opt for more affordable options rather than sticking to the ones that most people do.
You can always customize your venue decor according to your needs and budget suitability. Try something new, something more affordable yet trendy.
After all, innovation is the key!
Book a lush-green venue- Book budget-friendly event venues that are lush green, as greenery adds to the beauty of the event arrangement and gives a natural touch to your venue decor and you will have to spend less on artificial decoration.
Say no to off-season food and flowers- Choose on-season food and flowers as they are cheaper than the ones available during the off-season. On-season food and flowers are easily available in your local market.
Cut down on the catering list- Cut down on the variety of food items on your catering list. Focus on good quality and not quality. It doesn’t matter how many items you serve at your event, what matters is your hospitality and the taste of the food that you serve.
Good food makes a good impression so avoid keeping your menus unnecessarily long.
Buy from the local market- Buy things from your local market as they are readily available and inexpensive yet good-quality. This way you can avoid long-distance transportation costs over these resources and save a lot.
Opt for an all-inclusive package- Many venues vendors out there provide an all-inclusive event package at affordable prices. Look for the ones that fit your needs and suit your pocket. You can always choose among the many facilities available in your package, keep the ones that you feel are useful and leave the ones that you won’t require.
This will cut down the package cost to some extent eventually helping you save a penny or two.
Limit your events- If the event you are planning is a wedding, it is likely to have a couple of functions and even more than that. So in that case, you can limit the number of functions and cut down on the event cost.
You can even keep the same decor for all the functions and make small changes if you want.
Book on weekdays- Avoid booking on the weekend as weekends are the busier and most expensive days for booking a venue. Most people book on the weekend so weekdays offer a good bargain and will eventually help you save some money.
Book during the off-season- Peak season event bookings tend to be costlier than the off-season ones. So try setting your event date on off-seasons and make a booking accordingly. This way you can cut down on expenses and save money for your big event.
Keep it minimal- Do not overspend from your set budget. Keep your fist closed and tight. Do not exceed your budget and spend on unnecessary items that you won’t even need, do not spend too much to make your event huge, keep it minimal, or else it will burn a hole in your pocket.
Tips and tricks to save money for your event
Get multiple quotations- Get multiple quotations for budget-friendly event venues from venue vendors and choose among the variety of quotations available to you. Do not hesitate and explore as many quotations as you can.
Compare the quotations and choose the one that suits you the best.
Don’t hesitate to bargain- Do not hesitate to bargain with the venue vendors. If you have good bargaining skills, you can save a lot more than you expect. So try bargaining with the vendors and agree on a price that suits both parties. After all, you would want the event to be a super hit while keeping the budget minimal.
Seek help from a professional event planner- Professional event planners understand your budget needs, put themselves in your shoes, and help you organize a budget-friendly event. So you can always seek help from professionals and save on huge costs.
DIY decoration- This method works the most if you are planning a smaller event, as you cannot manage big events by yourself. Gather inexpensive decor items from your local market, grab whatever you can and opt for DIY decoration. This way you can cut down on the cost of hiring a decorator and save money to some extent.
You can’t save for your special events in one day, so save well in advance to avoid inconveniences and putting too much burden on your pockets. Look for cheaper ways to make your event a big success and make your special events memorable and worth every single penny.