Whether you’re planning a fundraiser, a networking event, a conference, or a grand opening, budgeting is a big part of the planning process. No matter what your budget is, you should have a budget outline for initial planning, a working budget where you update income and expenses throughout the planning, and then a budget with actual numbers, so you know where you landed.
Here are some expenses that are often missed:
- Catering Costs: I’m not suggesting that you would forget the food expense, but did you account for tax and gratuity? Did you account for any service charges for servers or setup?
- Printing: Many invitations are now sent out electronically for events, but what about the signage for on-site or the program booklets, if you’re not using a digital app?
- Graphic Design: My planning packages often include graphic design, but if you’re doing an event yourself, be sure to budget for design so that you can present professional-looking marketing for your event.
- Credit Card Fees. While many of your sponsors may prefer to pay with check, chances are you are still going to have quite a few attendees who would like to register with credit card. If you’re not having registrants pay their own fees, make sure you budget for these costs.
- Volunteer Hospitality: Make sure you count your volunteers in the final count for food and swag items at the event. If you have a planning committee, it’s nice to have a wrap-up meeting to show your appreciation and gather feedback. Budget for food for this meeting.
Need someone to help you manage your budget and all of your event details? I’d love to help, and am now booking events for this winter.