Our Best Cost-Saving Event Tips

Party planning is fun, but things can rapidly add up as you make your way down the list of everything that you want to have at your event. These cost-saving event tips are simple ways to reduce spending without sacrificing a great time.

Have a Realistic Budget

We know how to make an event that wows with any budget, but it’s important to have a realistic budget in mind when starting the event planning process. Doing your research can help you get an idea of what different things cost so that you can adjust your expectations (or your budget!) accordingly.

Know What Your Venue Rental Fee Includes

Every venue is different, which means that you should never assume what is going to be included in your rental fee. Is there a nearby parking lot that your guests can park in for free, or is it valet parking only? Is there a kitchen for the caterer? Does the venue have chairs and tables included with the site rental, or will you need to rent them for an additional fee? One of the easiest cost-saving event tips is working with a venue where things like furniture and parking are already included.

Additionally, know that having an event outdoors will not save you money. Many outdoor locations do not include much infrastructure; meaning things like restrooms, electricity, running water, etc. will all need to be brought in, which can make it more expensive than having your event inside.

Check the Guest List

While some places have a flat fee for any number of guests up to a maximum, like a venue hall that can seat up to 200, other vendors will charge a fee per person, like a caterer or rental elements like chairs, dishes, special glassware or even the number of party favors. Cutting down your guest list can also slash your budget without needing to explore other cost-saving event tips.

Catering & Decor

Another one of our best cost-saving tips is thinking carefully about what you need from catering and décor. For example, a cocktail party could be more cost-effective than a sit-down dinner with dessert. Renting décor like lanterns, or using a pile of theme books may be more affordable than flowers. Some crafty people even make their own décor or floral arrangements! But don’t forget to think about how much your time is worth.

The Date & Time

If you are flexible with the day of the week or the time that your party occurs, you can experience a lot of savings. Venues and vendors are often eager to fill gaps in their schedules, which is also true in the off-season. Scheduling smart can tie directly into budgeting smart.

Explore Sponsors

If you are a non-profit or a business throwing an event, explore sponsorship opportunities. One sponsor could foot the bill for dinner or the photo booth in the lobby, and another could sponsor the bar.

Create the Perfect Event with Innovative Party Planners

 Innovative Party Planners is your resource for event design and planning in Maryland, Washington, D.C., Pennsylvania and Virginia. To learn more about our event planning services and how we can help make your corporate event one of a kind, contact us by clicking here or calling (410) 998-9999.