Parties are all about fun, so the idea of doing something like budgeting can seem like a buzzkill. However, this demonstration of responsibility can make you better prepared and can prevent you from having so much to fret about on the day of your party. How much to budget for your party depends on what you’re planning, but these tips can help you determine where your money should go.
Food
Getting high-quality catering for your party can cost quite a bit. Aside from the food, you’ll also have to consider the costs of hiring catering staff, getting plates and silverware, and covering any delivery fees and taxes. According to catering experts, the food, service ware, equipment, the staff to execute the event and production fees are the foundational costs for any catered event. You also need to think about disposal costs because there are likely to be at least some leftovers.
Entertainment
A party isn’t entertaining just because you say it is. Having at least one performer can help keep people enjoying themselves and can give them something to focus on. You might hire a band or a DJ. You might also hire a comedian or a motivational speaker. Make sure that any entertainment you choose is appropriate for the event and that you are clear about what your general expectations for these performance are.
Alcohol
If you choose to serve alcohol at your party, you need to be aware of the possible risks, both in terms of possible over-indulging and the financial risks. Drink specialists point out that an open bar will be welcomed by guests, but it can also put a significant dent in your budget. If you do include an open bar, you might want to limit it to beer and wine. You also might consider a maximum of two drinks so that the chance of anyone being put in harm’s way is minimized.
Location
Based on the size of your party, you may have to rent a larger party space. Venue providers suggest that before you confirm a location, you need to get your guests confirmed. You should give the owners of the space plenty of advance notice to get things set up how you want and to answer any of your other questions. You also want to avoid any disarray in the aftermath of the party so that you get your security deposit returned.
Budget for a party
You don’t need to break the bank to host a great party. The quality of a party is not about the value of the decorations and attractions but about the guests being provided with a space where they can feel at ease. No matter what your budget is, a great party is worth a million.
