*Collaborative post.
An engagement party is a great way to celebrate a love commitment. However, hosting one can quickly become expensive. Recent studies reveal an average engagement hovers above £3,000, which is why you need to plan effectively to avoid overspending. This way, you avoid unnecessary expenses and focus on what’s most important – celebrating your love and commitment.
Here are five engagement party budgeting ways to help you stay on track.
Start with a clear budget
Before planning your engagement party, create a clear and detailed budget. This should include all the expected costs of the party, such as venue rental, catering, decorations, and any other expenses. And if you plan to pop the question right before the party starts, you must also budget for your engagement rings. You could factor in the cost of your wedding bands at this stage, so feel free to consider this. But be sure to set a realistic budget that you can stick to, and be prepared to make adjustments as needed.
Prioritise your spending
Once you have a clear budget, prioritise your spending based on what’s most important to you. It helps you focus only on the relevant things and allocate your resources effectively. By deciding what matters most, you can create a clear plan for spending your money while avoiding overspending, so keep this in mind. For example, if you want to splurge on an expensive venue, you may need to cut back on catering costs. By prioritising your spending, you can ensure you get the most value for your money and create a celebration that reflects your values and priorities.
Consider non-traditional venues
Considering non-traditional venues is an excellent strategy to help you stay within your budget when planning an engagement party. Traditional venues like hotels, restaurants, and event spaces can be expensive, and renting them may significantly strain your budget. On the other hand, hosting your engagement party at a non-traditional venue, such as a park or backyard, can be a great way to save money on venue rental fees. You can negotiate a lower rate for an off-peak time, such as a weekday or early afternoon. Additionally, non-traditional venues offer unique and intimate settings, which can create a more personal and memorable experience for you and your guests.
Opt for DIY decorations
DIY decorations can be a cost-effective way to add a personal touch to your engagement party, so feel free to consider this. Consider using items around the house, like candles, picture frames, and flowers, to create a beautiful and personalised party space without stretching your engagement party budget.
Shop around for vendors
Before drawing up your budget, don’t be afraid to shop for vendors, such as catering and photography services. Compare prices from different vendors and read reviews to find the best value for your money. You can negotiate lower rates by bundling services or booking well in advance, so keep this in mind.
Planning an engagement party can be easy in your pocket with the right steps. Hopefully, you’ll leverage those mentioned above for the best results.