When starting the planning process for an event, most people’s first thought is along the lines of “this event needs to be the best event for ____ that’s ever happened!” Then normally comes the brainstorming of all of the latest innovations and neat tools and before you know it, you’re looking at a hefty price tag to put on the event. Before you even get to that point, every planner should step back and contemplate their event budget to give themselves some parameters on how far to take their spending.
In this post, we will discuss some helpful tools that can guide you down the path of monitoring your event budget, assuring that every planner can be on top of their expenses and eventually pull off a successful event that has all of the glitz and glamour, but without the need to drop the big bills.
Mint is a platform that allows you to see everything from balances to bills to your credit score and more. Available as a mobile app as well as a desktop program and even on your tablet, you can manage several accounts, credit cards and bills all from this one program. One of the best features of this program? It updates automatically with payments and categorizes information based on the account information. Oh – and it’s free to download!
If you (and a team) are going to need to travel to your event, it can cost more than you’re willing to spend to actually get there. If there’s airfare involved, Hopper is an app that analyzes flights to help you find the best deals, along with the best times to fly. Once you type in your airport information with dates, the app will give you a calendar view of prime dates to purchase your ticket by, as well as dates that aren’t so ideal. You can also set up push notifications to alert you when prices are at an all-time low so purchasing your ticket doesn’t slip your mind.
The Clarity Money app is the extra set of eyes you need when planning your events. Stating that they “help you take control of your finances”, they will go as far as cancel wasteful accounts, lower your bills and get better deals on items that you are paying for. Most people don’t have the time to do the extra research to save money, but this app will do the heavy lifting for you. They will start with searching for discounts on existing bills that you are paying and will then move to canceling subscriptions that you aren’t utilizing. The best part? They’ll make sure you stay on budget by notifying you when you’re going over budget. It’s like you have an extra assistant!
These tools are great for just about every event planner, but as your events grow in size and scope, don't forget to also turn to your event management software solution, which not only may have more complex budgeting tools, but integrations and reporting features to help you make the most out of your budget planning.
Budgeting out your event isn’t an easy task and staying on track is even more difficult. How do you keep yourself on budget through the planning process? Leave some tips in the comments section below!