How To Plan A Party On A Budget

How To Plan A Party On A Budget!

Do you have a big event coming up? or thinking of maybe celebrating a special moment in your life? I'm a big believer that there's nothing quite like the memories life's biggest milestones can create.  I for one love celebrating special moments in our lives.

The reality is that even the most beautiful memories can be overshadowed by a debt and over budget. In fact overspending on a big event can overshadow the joy in the long run.  Instead of the fanciest venue or the most elaborate sit-down dinner, concentrate instead on this piece of advice from David Tutera, a celebrity wedding and party planner  "If a guest can go to a wedding and walk away knowing more about the bride and groom, that's what makes a wedding much more unique." The same goes for any other type of special event. It's about the person, not the party.
The average price of a wedding these days is $22,000, And it's not unheard of to drop $20,000 on a Sweet 16.

Below are a few things to keep in mind on putting together a party on a budget.

• Set aside cash. It's never too early to start saving for the big day. If you can avoid using plastic on a $1,000+ bill, you'll bypass those hefty interest charges. Twelve to 18 months in advance of the shindig, figure out as accurately as you can what it's going to cost you. Divide the total by the number of paychecks you get in a year and start automatically shuttling that much money into savings. You can even open a separate savings account if it'll help you keep your fingers off!
• Go in with your eyes wide open. Whether you're planning a wedding, a bar mitzvah or a 25th anniversary party, "you need to make a conscious choice about whether it's more important to you to spend thousands on the event or save the money for some future financial need," says financial planner Ross Levin. "There isn't necessarily a right or wrong answer, but the decision ought to be intentional."
• Don't be afraid to put on the brakes section. If a voice in the back of your head is starting to say this is getting out of control—listen carefully. (And try not to listen to all those service providers who are encouraging you to go overboard on their specialty alone. Do it with each one and your budget is completely out of whack.) Besides, you don't want to end up resenting the money you spend. Nor do you want to overindulge so much that you, the guest of honor, and all the participants lose site of the real meaning of the milestone you're celebrating. 

From your Event Specialist,

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