5 tips to stay within your event budget

1. Stay realistic

Such a new project gives you a lot of energy and you’re full of ideas and inspiration. Great! Your enthusiasm is incredibly important during the organization of the event. Just don’t forget to stay realistic, especially in this initial phase. Creating a checklist of all planned expenses can help you with this. This way, you won’t be caught off guard by unexpected expenses and surprising amounts.

2. Plan well

With a realistic checklist, many situations and costs are covered, but it’s wise to also account for large-scale, unexpected events. Therefore, it’s important to include risks in your planning, such as the outbreak of a virus. Allow some financial breathing room in your expense report by setting aside a budget for unforeseen expenses. Depending on the type of event you are organizing, it’s wise to set aside between 5 and 25 percent of the event budget.

A realistic checklist and a well-thought-out expense report are important, but don’t forget the budgeting document. To plan effectively, a spreadsheet with all details regarding income and expenses is essential. Include all cost items and set goals early in the planning process.

3. Set priorities and goals

The goal of your event must be clear, especially to prioritize various expenses in the budget. Align this well and ensure everyone is on the same page when formulating this goal as a team. For instance, if the event focuses on building connections between colleagues, the expenses contributing to this goal take priority. This keeps it clear which amounts need to be fixed and where there is financial flexibility.

4. Think outside the box!

You probably have an idea of what the event should look like from the beginning. However, be cautious with this and broaden your perspective! By being flexible and thinking outside the box, you can come up with creative solutions. These can be cost-saving and still effective in achieving your goal. Think about using recyclable items instead of making new purchases, or designing a decor piece that can be used multiple times. This saves on the event budget for the next event too 😉

5. Explore cost savings

Investigate all possibilities that contribute to the aforementioned flexibility and creativity. Pinterest is a huge source of inspiration for event styling and themes. DIY tips can provide fun decorations, like a unique photo booth that also captures moments of the event as memories.

Exploring ways to reduce printing costs is also worthwhile. In the digital age, there are plenty of alternatives for communication and information sharing during the event. Think of a special website specifically for your event or an event app.

Have you stayed one hundred percent within the event budget? Then you can be very proud of yourself and your team. Just remember that there can always be additional costs that arise during the event. We wish you the best of luck with organizing your event!