It’s a pretty widely regarded fact, and since you’re here, we should let you know as well. Money flows like a river when arranging a party! Making any event or party happen successfully requires a good amount of money, and if you have that, you’ll need to manage it. And that’s where budget planning comes in!
It might sound really daunting at first, but when you get the gist of it, everything is easy peasy lemon squeezy! So, let’s hop into the basics!
Step 1: Jot down the details:
It is really easy. Just sit down, open Excel or google sheets, and make some columns! You can name them as item name, description, amount and price. Next, list all the items you can think of that is present in a party. That includes cold drinks, balloons, food and everything else!
Now, given the amount of guests who will attend the party, try listing down the amount per item. This won’t be too precise, but it will help you get your final budget.
Step 2: Research the costs:
Now, print the table and head out to the supermarket! Find all the prices of the items you listed. Don’t stand in the market and calculate the final price, you can do that after you come home.
Now, once you come back, you now have to find the product of the price and amount per item. This will take some time, but it’ll all be worth it. It is also necessary to mention that this list doesn’t include the cost of the venue, the catering, etc. etc. So be sure that your budget is at the minimal range so you can expend your money at the more expensive stuff.
Step 3: Bonus: Make extra expenses:
As the title suggests, this isn’t mandatory, but is pretty nice if you can do it. What will you do if the amount of guests is more than the items you have? What if you are having a backyard party and it starts raining? In order to not panic at moments like these, make a list of extra expenses, and save some money for that as well!
The most frequently used ratio for extra money is 15% of your entire budget, but you can allocate more or less depending on the money you have in hand. Think of the absolute worst cases that can happen on your party, and make a list of them. This will make you further enhance your budgeting, and makes you look like you’re a pro!