Category Archives: Saving Money

Events on a budget: money saving ideas

Now that lock-down restrictions are easing up we can start looking forward to more get-togethers, celebrations, and summer events. Here are some great ideas to help make sure your next party or trip doesn’t strain your budget.

Your next summer barbecue doesn’t have to roast your wallet.

There’s nothing better than getting together around the grill. Some of summer’s greatest memories can revolve around a good outdoor meal with family and friends. Rather than taking on the responsibility for the entire feast, assign people side dishes to bring. In light of the recent price increases for meat products you could even make it BYOM (Bring Your Own Meat) and just have the grill hot and ready to go.

Looking forward to summer vacations?

Location right now is everything. If you are planning an out of town, or especially out of country event make sure you understand that location’s current travel policies, health mandates, and restrictions. Be prepared to stay in the area longer if needed, and have exit plans should you need to leave the area quickly. Understanding local policies can save you thousands of dollars paying for an unexpected hotel stay or last-minute transportation in an emergency situation. Air travel is going to be especially tricky this year, so make sure you are staying on top of current policies and news.

Planning a wedding?

Whether you’ve had to delay your marriage plans due to the recent stay-at-home orders or you are planning a wedding reception in the next 12 months, remember that your event could still be impacted by both the current economic and social climate, new shelter-in-place orders, and re-bookings from this Spring’s delayed events. The best way to protect your down payment is to talk with vendors about their contingency plan or cancellation policies should the date or location need to be changed in the future – and make sure you get it in writing. Remember to keep a budget in mind not only for your own pocketbook, but for those of the people who are also celebrating with you. Keep plans as low-cost as possible so that more can comfortably celebrate with you.

Part of an upcoming Bridal party?

Weddings can be expensive and while it’s an honor to be part of the celebration, the bridal party members aren’t exempt from the cost. From new clothing to travel and accommodations on top of gifts to the happy couple your budget will feel the strain. Before you accept the invitation be sure to review your budget and see how much savings you have available to participate. Set a limit on your gift giving and considering going in with others on gifts or party hosting. Stay at a cheaper hotel near the venue, share transportation with others in the party, learn how to do your own hair and makeup, and look for coupons and discounts for food and activities. Keep bridal showers, bachelor and bachelorette parties you may be hosting and other events you may be in charge of small but fun. You don’t have to end up in the poor house to send the happy couple on their way.

Keeping party costs down.

Here are ten great suggestions for hosting on a budget.

  1. Using a back yard or local park instead of booking a venue is a great way to cut costs.If you require a venue for the event be flexible with dates. Events on weeknights or Sunday afternoons are often less expensive to host than weekend parties. You can also keep party start times away from meal times to save money on your food budget.
  2. Pick a theme.It’s easier to manage guest expectations if the food and decor tie together and will help with the party planning, budget and success.
  3. Plan interactive elements that don’t cost anything.Leave simple craft items on a paper covered table with instructions, have people run a scavenger hunt, make a short movie in groups, leave a puzzle out or a deck of cards or create a ‘stage’ area for karaoke or a stupid-human-trick show. You can also involve guests by collecting their pictures taken at the event to make a short slide show for social media. Photo booths with various props can also be a lot of fun for guests.
  4. Make the food part of the activity.Limit foods to themes like just salads or just appetizers to increase creativity and avoid the cost of expensive main dishes; or allow people to build their own meals from an ice cream buffet, salad, rice bowl or taco bar.
  5. Check for lightly-used and even free-for-pickup décor itemson local sites like the Freestyle Network, Nextdoor, Craigslist, eBay and your local online newspaper classifieds.
  6. Keep the guest list small.It’s nice to be inclusive of your child’s entire school class or all of the neighbors on the block, but the truth is that you’ll do a lot of extra prep and planning for a number of people who will be no-shows. It’s a nice thought, but keep the party count limited to close relationships.
  7. Don’t waste money on party favors.Most people just trash cheap trinkets and toys. Stick to simple food items or useful gifts and tools that reflect your guest’s styles. If your guests are artsy people let them make their own fun gift to take home.
  8. Skip the party store for the dollar store.Dollar stores can sometimes be more than 200% cheaper for balloons, party décor, invitations, wrapping paper, serving wear, and other hosting items over the cost of the same items at a market or dedicated party store. Make that your first stop and then get any other needed items you couldn’t find at the more expensive shops.
  9. Find cheap help or volunteersto set-up, cleanup or even work behind the scenes at an event. Enlist family members or neighborhood teenagers who typically work for less than paid caterers, maids, or children’s party entertainers. Many high-schools require community service hours as part of their graduation requirements. Offer helpers a benefit like free entrance to the event after their shift, or even leftover food, party favors and decorations as an enticement.
  10. Split the party host job.If you can find one or two other people to help with the planning, preparation and cost of the event you can also spread out the work. Each of you take a part that plays to your strengths and run with it.

Remember the idea of a party is to have fun with your loved ones and spend some quality time together, not throw money at the relationships in the form of fancy locations or high-class food. Make your events memorable by engaging your guests with your attention and by showing a personal interest in their lives rather than tossing your money at them and your event will be successful every time.

 

For more good ideas on how to save money or manage your budget feel free to visit our website for more great ideas, or reach out to our credit counselors for a free budget review. Phone: 877-789-4172  FFEF works hard to create a better financial future for everyone. www.ffef.org