Cost vs Value
Cost Cutting: Common misconceptions about stretching the budget
We all want to celebrate our best moments in the biggest way possible. Fortunately, there is tons of inspiration on social media to fuel our imaginations about what is possible for our personal events. It is easy to get carried away and run right past your desired budget. What now? You’ve already fallen in love with a certain vision. What can I compromise?
Myth #1: Cutting the guest list is the only way to cut the cost
That depends. What big features do you plan to have at your event? You may be able to keep your desired guest count if you’re willing to eliminate the non-essentials. Any expensive elements that are not necessary to preserve your theme. Maybe you want to splurge on a custom cake stand. If the cake is already the themed item – then it’s more important than the pricey structure. Highlight it with a cheaper item like balloons or a simpler, but still nice stand.
Myth #2: Small details = small investment
Nope. Just because you decide to forego the things that may make your event unique doesn’t mean you’re managing your investment well. You may be saving money, but an event that lacks individuality may not showcase your reason for celebration the way you want it to. Enter the phrase “Value vs Cost”. A personalized menu may cost an additional few dollars, but it goes a long way in 1) creating an immersive atmosphere and 2) showcasing your personality. I’d consider other ways to down-size. Perhaps, instead of a large- table length floral arrangement, maybe medium sized pieces could be just as effective and still allow you space in the budget for customization.
Myth #3: My ___ can do the cooking. A professional caterer’s cost is an unnecessary expense.
Non-licensed vendors and talented loved ones may seem like the perfect low-budget alternatives to certified vendor services. Aunt Jackie’s food may in fact be delicious, but there is more to providing catering than just the food. There is the knowledge and inclusion of specialized equipment and methods to keep your dishes safe to serve. Nothing ruins an event quite like food poisoning. Also, using an accredited service provider ensures that someone can be held accountable for meeting certain service standards. You want professionalism and efficiency from booking to take down. Planning an event is stressful enough without you having to be concerned with the quality of a product or service because you hired a friend or family member.
Myth #4: DIY: Labor is Labor
Doing – It- Yourself. Tempting I know. As creative as you may be and as accessible as “how-to” videos are now, this may not be the route you want to go. Especially if you have a regular job or daily commitments that require your attention. The expression “time is money” is applicable here. You may not have to pay yourself a vendor fee, but you will have to purchase supplies and set aside time to dedicate to the project. And whatever the outcome, you’ll have to find a way to use the product since there may not be time to start over. I consider myself crafty and I am usually proud in the end, but I prefer to perfect a craft at my leisure rather than risking an imperfect outcome for say a wedding. Those are some pretty high stakes! Using a vetted provider is a way of ensuring quality --- or at the very least, a refund if the expectation does not match reality.
Myth #5: Customization is expensive
So, you’ve never heard of Etsy? Similar to Pinterest, Esty is an expansive online buyer and seller’s market with everything from unique trinkets to rare finds available to purchase from different providers at comparable prices. Here’s where you want to apply that DIY spirit…kinda. There are literally tons of providers (Etsy or otherwise) that have easily customizable digital templates at low prices for things like candy bar wrappers, water bottle labels, and favor tags that you can print and wrap yourself. These small touches tend to make a big impression on guests. Then there’s unique signage and special touches like embroidery, stamping, pressing, and laser cutting. These forms of personalization are usually more expensive depending on the medium you select. I would recommend targeted placement of items like acrylic signs or laser cuts placemats – somewhere they will be highly viewed or else, you’ve wasted the investment.
JUNE 2022
