Event budgeting is one of the most important and difficult parts of event planning. It is very rare to find an event planner who loves this aspect of planning. This is particularly true for large and complex events. Event budgeting feels like a necessary evil. However Easton Stick Youth Jersey , there are strategies that you can use to keep everything in order and maximize the return from your budget.

Start budgeting as soon as possible


Budgeting process should begin the moment you get to know about the event. But that may not always be doable. However, you should put together a rough budget if you wish to know whether your event will be feasible or not. For this, you can refer to the previous figures from similar events. Make educated guesses and do thorough research. A word of caution: don鈥檛 spend a lot of time on it since it is just a rough first draft.


Once you improvise on your first draft, run it past your clients and stakeholders. That way, if the event proceeds Drue Tranquill Youth Jersey , you already have a rough idea of where to spend and how to spend it.


Update event budget frequently


Losing or misplacing receipts and quotes is a possibility you must avoid. However, sometimes you cannot do much about it鈥r can you? To avoid such situations, it is important to regularly update your event budget. You should at least spend 10 minutes daily on your event budget to update it. This way you will always be informed of developments in real-time. If you are tech-savvy, then you can use and your team can use an app to put everything in one place and update the budget regularly.


Get several quotes from vendors


Do thorough research to get competitive rates from event management software vendors. You should get at least three quotes for anything. Even if you have a favorite vendor, If you find someone who offers lower prices Nasir Adderley Youth Jersey , then chances are your vendor might just match the price. Always add quotes to your budget as soon as you get them so that you can have a reference and an accurate record. Never accept the first price. If the venue cannot go down on price, negotiate for something extra like an additional entree option or free parking.