Knowing your budget.

September 28, 2010

I can’t even begin to tell you how important it is to know what your budget is when planning an event. By knowing your budget you won’t waste your time looking at things that are either over your budget or below your budget. Also, having and knowing your budget could prevent you from spending more money than you can afford. So, Once you know about the event, whether it’s a wedding, a sweet sixteen, a Bat/Bar Mitzvah, a shower, a corporate event, or even a fund raiser… Then you should start taking notes right away.

Once you figure out your budget for the entire event, then you can figure out what percentage of the budget will go to what. There’s the invitations, the venue, the decorations, the cake, the favors, the entertainment, the photographers, the videographers, and If applicable: the hairstylist, and the make up artist. With a budget in mind, it will be so much easier to know how many guests you can invite. It will make booking a florist that much easier. When looking for a venue, it will save you so much time because you will go only to the venues that are in your price range per guest. Also, if you happen to go below your budget due to an amazing package that you were able to obtain, then you can possibly splurge a little more on another aspect of the event.

The more organized you are, especially with your budget, the more you can enjoy the whole planning of your event. Be smart about it and have fun.

If you decide to hire an event planner to help you, the rate may be somewhere between 10 to 20% of the entire cost of the event, depending on what you and the planner were able to negotiate. Just make sure that the planner earns his/her payment. They should be doing all the running around and bring things to the table for your approval.

Filed under: Pre-Planing and Budgeting