ReNee Troy-Mebane

Budgeting Your Special Event Responsibly
by ReNee Troy-Mebane

Whether it’s a wedding or a bar mitzvah, a convention or a retirement party, no event you plan is going to work if you simply slap it together. Hard work and preparation must be put into every detail of the event, from catering to entertainment, to decoration, to thank-you cards. And as little as you want to think about how much it’s costing you, the most important first step in planning any event is the formulation of a budget. Without a good and reasonable list of expenses, anyone planning an event on his or her own runs the risk of breaking the bank.

The first number to be factored into an event budget is not one you want to take lightly. It involves the guest list. How many people do you expect to invite to this event? Inviting everyone you’ve ever met, had coffee with, or held the door to the office building for is probably not a good idea. How are you going to pay for that many ladyfingers? In all seriousness, think about the event you’re planning and who it is appropriate to invite to that event.

A good way to do this is to make an A list and a B list. A-list folks might include current employees, immediate family, or close friends of an honoree. B-list folks might include distant family you don’t keep in touch with, old college roommates, or former employees and executives. If the A-list reaches a certain number, then it won’t be too terrible when B-listers are left off of the invitation roster. Regardless of how polite or impolite you may feel, remember that every invitee equals one more meal you must provide, one more drink ticket to be redeemed, one more gift bag you must assemble. When budgeting out your event, you must consider the maximum number of people that your funding can handle.

The second major issue to consider is your overall theme. Again it is important to stay within your bounds. While your retiring boss may be a fan of Restoration Comedy, having a Victorian-era England theme may be too much for your bankroll to handle. Costumes, props, décor, music, and food all cost money, and that which must be specially prepared comes at a premium. Instead, consider what elements of that theme can be incorporated in your event at a reasonable price. Renting costumes, wigs and corsets for each guest will cost you an arm and a leg; a string quartet, however, will be more within your budget.

Planning a budget for an event involves a lot of hard decisions. Invitations, accoutrements and thematic choices may have to be compromised or sacrificed in order to meet financial limits, but in the end you’ll be happy that you didn’t mortgage the house.