Tight budget planning7/12/2023 ![]() They usually won’t cover the cost of the whole event, but they can help you stretch a thin budget. Sponsorships and partnerships are important tools to collect revenue. For example, you might charge a special ticket price for seats in the front row of a presentation, access to the dining area before everyone else, or a VIP meet-and-greet with a presenter. You should also consider selling special access to parts of your event. This will help you raise some cash to fund the event and get more people wearing your logo. Promote the store to your email list and across your social media profiles. If you plan to sell merchandise or souvenirs, list them on a basic online store before the event starts. Promote this as a convenience so they don’t have to deal with cash at your event. They could use the card or wristband for their purchases. This is a great way to infuse your budget with cash that you would have collected anyway.įor instance, if you plan to sell food, alcohol, or tickets at an event, you could ask your attendees to fund a special account that’s linked to a card or wristband. ![]() If you intend to sell services or products at your event, an easy way to boost your budget is to pre-sell those items before the event starts. This approach will make sure your budget doesn’t grow any thinner than it needs to be. If you work with the team, remind them that you are the only one who can approve purchases, and any unapproved purchases will not be reimbursed. Resourcefulness is important to event planning, especially when you need to make a tight budget work. A sure way to blow through a budget is to give multiple people the authority to spend money, especially if those people disagree with how it should be spent. Do it yourself, unless you have issues that hinder you from taking up such work.Your first step to stretch an event budget is to make sure you have complete control over spending. Learn how to plan your laundry and house cleaning. Doesn’t that sound good? 7: Do your own personal grooming. If you master this skill you will be mindful in your shopping expeditions. This will not only help you right now during this pandemic period but also in your whole life. If you can survive without the item then do not buy it. Before buying an item take a day or two to debate within your mind whether or not you need the item. This will help you to curb the habit of impulse buying. Instead of choosing payment options that will charge you a fee, go for free payment modes. If you can not keep to the discipline of carrying a sanitizer with you, you might need to consider using your phone to pay your bills but exercise discipline. However, sanitize your hands after handling money. When using cash, it is difficult to spend carelessly and it’s easy to track down avenues through which you are losing your money. ![]() This will enable you to track your expenditure patterns. 5: Make use of cash in hand to cater for your daily expenses. Consider using public means since the cost of fuel has increased and you are working on a tight budget.Īvoid traveling for leisure and instead, look for other activities that will not require much spending.īy adopting budgeting habits, you will ensure that you’re spending money where you need to. It is important to cut down on expenses such as fuelling a car and unnecessary traveling. It is advisable to avoid situations that will strain your budget. Make it a priority to pay off your existing debts but be sure to pick a payment plan that works best for you. Therefore, learn how to live within your means.īudget with what you have and not what you would wish to have. If there is one lesson that the Covid 19 pandemic has taught many of us is that one should never bank on tomorrow because tomorrow is never a certainty. ![]() Think of this move as more of a step towards adopting a healthy lifestyle so that you can implement it with ease. Supplement it by sampling a variety of vegetables which can make your meal delicious. Instead of having meat in every other meal you can at least reduce your intake to once or twice a week. ![]() The prices charged at restaurants for just one meal can probably cater for your groceries for a couple of days.Īnother necessary move will be reducing your meat intake. It is a lot cheaper to cook for yourself at home. Since you now spend more time at home, reduce your spending on take-aways and eat-outs. ![]()
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