How To Stick To Your Event Budget
When it comes to throwing an event, it’s important to have a plan. From avoiding unwanted surprises to helping you make creative decisions without overspending, creating a budget should be your first step.
Here’s how to stick to your budget while planning a successful event from start to finish.
1. Start As Early As Possible
Set your event budget as soon as possible while being practical about the kind of event you can pull off.
Once you know what your budget will allow, you can start planning major event details, like securing different vendors. You’ll also have a better chance of booking a venue for dates that work for you, your family, and your friends.
Additionally, you’ll have more time to tackle any issues that arise. For instance, you may have more flexibility if one of your key vendors drops out or can’t make a particular date.
If you’re renting certain items, you’ll need to plan ahead anyway. Most event rental companies, like Florida LED Dance Floors, recommend reserving your equipment at least a few months in advance.
2. Define Your Event Goals
Any expenses will depend on the type of event you’re planning. Think about your event goals to decide which items are a must-have and what you could go without.
For example, why are you throwing this event? Would you rather spend money on a venue or rental equipment and vendors? Once you answer these big-picture questions, divide your funds according to your priorities.
3. Learn From Past Events
If you’re a seasoned party planner, reflect on past events. Did you end up spending more than you wanted? How can you improve things for next time? Identifying these areas can help you get the jump on problems before they happen again.
Other factors to consider may include
4. Plan for the Unexpected
Even the best-laid plans can have a few hiccups. While working ahead will help you account for surprise costs, it’s important to remember that things could change. From running into inflation to finding cheaper alternatives that free up cash to spend elsewhere, let your budget evolve as you move through the planning process.
Don’t be afraid to modify your budget as changes roll in, so you don’t run out of money or spend more than you want to.
5. Decide Where to Splurge and Save
Once you lay the groundwork, use what’s left of your budget for your venue, food, and entertainment. If called for, set money aside for décor, but make sure you’ve covered your bases first. Decide where you to splurge or save money in terms of the following
You’ll need to cover the venue cost, as well as any insurance that might come with it. If you’re still choosing a venue, think about the maximum you can spend before signing.
On the off chance you can’t afford your dream venue, consider using rental equipment to transform a less-than-perfect setting into a customized event space. You can rent anything from LED dance floors to outdoor tents and tables.
Some all-day events require food options that accommodate guest preferences, whereas shorter ones may only need a few snacking options.
In terms of your budget, it may be wise to consider how much food you can afford before inviting everyone on your contact list to an event. If it’s too late for that, and food costs are eating up your budget, try finding a more affordable caterer.
One of the biggest challenges of event planning is entertainment. No matter what you choose, make sure there’s room in your budget to pay hired vendors.
If you need some inspiration, LED dance floor rentals are a great way to keep guests active and engaged. Not only will a temporary floor give guests a place to dance without competing with other traffic, but you can also save money by making a playlist instead of hiring a DJ or live band.
The cost to rent an LED floor depends on the number of guests and the size of your venue. To determine what size dance floor you’ll need, look closely at your guest list. If you have 200 guests, expect 100 people or 50 couples on the dance floor at once. In this case, you’d want either a 18’ x 18’ or 20’ x 20’ rental.
That said, you know your crowd best. If people aren’t likely to dance, try something smaller!
While decor probably isn’t your main concern, that doesn’t mean you should settle for low-quality, outdated accessories. Similar to your entertainment, you can rent decorations and not have to worry about finding a venue that already has everything.
From achieving a sophisticated look that matches your event theme to having help with set-up and teardown, party rentals can add a unique touch to your event while making party planning easier.
Rent an LED Dance Floor in Clearwater, FL
Overall, it’s not the size of a budget that determines your event’s success — careful planning and prudent spending do.
With years of experience, Florida LED Dance Floors provides light-up dance floor rentals for events and weddings. Our clients receive personal attention to any requests or concerns. From receptions to Clearwater to birthday parties and corporate events in Miami, let us help transform your next event.