{"id":258,"date":"2018-05-25T15:43:59","date_gmt":"2018-05-25T22:43:59","guid":{"rendered":"https:\/\/www.peerspace.com\/resources\/?p=258"},"modified":"2024-08-21T10:04:32","modified_gmt":"2024-08-21T17:04:32","slug":"event-budget","status":"publish","type":"post","link":"https:\/\/www.peerspace.com\/resources\/event-budget\/","title":{"rendered":"Event Budget Basics: How to Stay on Track Without Sacrificing Style"},"content":{"rendered":"\n

Whether your event is a success or a miss isn\u2019t necessarily dependent on your allotted budget  \u2014 it\u2019s what you can deliver with what you\u2019re given. With that said, building your event budget should be the very first step of the process before you even dive into all the logistics and planning. The good news? Your initial budget isn\u2019t set in stone, which allows you to tweak numbers accordingly along the way. <\/span><\/p>\n\n\n\n

However, it\u2019s important that you create a realistic budget from the get-go and to give yourself some leeway in case costs end up adding up quicker than expected. This is arguably the most difficult part of event planning, but we\u2019ll guide you every step of the way. Now, let\u2019s get you started \u2014 here\u2019s how to plan an event on a budget.<\/span><\/p>\n\n\n\n

Before building the event budget<\/b><\/h4>\n\n\n\n

First things first: establish the focus of your event. Is this a summer office party, a product launch event, or a networking cocktail hour? Is the goal to entertain, educate, or promote? Your answer to these questions will shape your expenses. Once you\u2019ve got that down, see how your company or client\u2019s financial expectations fit your vision. Team up on a budget draft and be sure to keep their ideas in line with costs right off the bat. <\/span><\/p>\n\n\n\n\n

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Book the perfect location for your event.<\/h2>\n\n \n \n

\n Peerspace is the easiest way to book a stunning event location. Browse our extensive listings and enjoy hassle-free bookings today. <\/p>\n\n \n \n Find unique venues<\/a>\n\n \n <\/div>\n

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Setting up an event budget<\/b><\/h4>\n\n\n\n

Now that you have a better sense of what you\u2019re working with, it\u2019s time to break down your expenses. Before you even get into the numbers, create an event budget checklist first. Jot down every single area of cost you anticipate from goodie bags to cleanup, and then begin to fill in figures on a spreadsheet. How you allocate your budget is <\/span>the<\/span><\/i> most important thing to consider in the entire process, says Mona Desai, Peerspace\u2019s Special Events Manager.<\/a><\/span><\/p>\n\n\n\n

Here\u2019s a look at what your budget breakdown should model after:<\/strong><\/p>\n\n\n\n