Planning an event, whether it's a wedding, a product launch, or a corporate function, can be a daunting task. When you add in the pressure of staying within a specific budget, it can become overwhelming. But with a bit of creativity and planning, you can plan an event that is both beautiful and affordable. We compiled our top tips for planning your event on a budget.
Be realistic
The first step in planning an event on a budget is to determine how much money you have to work with. Be realistic about what you can afford and stick to your budget as much as possible.
Prioritise
Once you have a budget in mind, prioritise what you want to buy. Decide what is most important to you and allocate your budget accordingly. For example, if you're planning a wedding, you may want to spend more on the venue and less on the invitations.
Get creative with your venue
The cost of a venue can be one of the biggest expenses when planning an event. Popular venues seem to be the office, outside the company's premises, a field or even a dedicated events venue.
Be selective with your vendors
When it comes to vendors, it's important to choose wisely. Research and compare prices before making a decision. Keep in mind that the cheapest option isn't always the best option, but be sure you're getting the best value for your money. Make the most of friends or family who may own a business in a similar business and may be able to help.
Be flexible with your date
Choosing an off-peak date can save you a lot of money when planning an event. Consider hosting your event on a weekday or during an off-season month to take advantage of lower rates.
Reuse and Rent
Instead of buying new decorations and equipment, consider renting or reusing items. You can rent chairs, tables, linens, and even lighting at a fraction of the cost of buying them new.
Events can get out of budget very quickly if you don’t try and keep levels of organisation. Following these tips should be sure to keep you on track and under budget. Having a budget doesn’t mean you can’t have a good event, just be wise.
