Holiday Party Budget Busters

Everyone knows there are some things that just blow your holiday budget out of the water. If you know what these things are and plan for them ahead of time, they can be avoided and your budget can remain intact - leaving more money for those important holiday gifts. But the trick is identifying and then stopping these budget busters before they happen. Let's take a look.

Poor Planning

(Image courtesy of Apolonia at FreeDigitalPhotos.net.)

When you don't spend enough time planning for your event, you may end up running around at the last minute trying to fill in for things you've forgotten.  If this means more food, it usually means prepared food from a deli or caterer, which means a lot more money spent than originally planned. On the other hand, spending too much time planning can also result in over spending. If you go over and over the menu, you are bound to keep adding more food. If you review the guest list over and over, you'll start second guessing yourself, which usually means adding more people, not removing any. A lack of planning as well as too much planning are both bad for the budget.

Unexpected Guests

When people show up unexpectedly at your party, it's a strain on the budget you set.  Pulling up another chair to the table and filling another plate definitely produces a burden. The best way to keep your guest list accurate is to include an RSVP on the invitation. Of course, there are bound to be a couple guests who forget or ignore the RSVP, so be sure to word your invitation properly so the RSVP is taken seriously.  If you have guests who haven't responded, simply give them a call.  Another issue may be a misunderstanding with the invited guest. Be clear if you intend your guest to bring a guest of his or her own. Your invitation should state EXACTLY who you wish to attend the party.  If there could be any confusion about who is invited, state the obvious.  For instance, if you're throwing a party for grownups only, make sure the invitation states that kids are not invited. Don't leave room for confusion on the invitation.

(Image courtesy of Ron Bird from FreeDigitalPhotos.net.)

Big Dreams

Paging through glossy magazines featuring designer parties is a fun pastime, but not a good basis for your holiday party.  If you start dreaming about throwing a designer-style party, your budget will never catch up. Keep your dreams in check and reasonable when you are planning your party and your budget and bottom line will appreciate your diligence. However, when you're dreaming big, you can  grab a couple ideas from those designers.  Choose some unique decorations or recipes and include them in your budget version of the fancy party.  You can add a lot of flare with just a few touches from that big dream.

Shopping Fail

Once your party is planned, you'll need to shop for food, decorations, gifts, and whatever you may need.  Heading to the store without doing some research first will result in spending way more money than you need to, or intend to.  Paying full price for any or all of the items you need will put a serious dent in your budget, and is so unnecessary.  With all the coupons and sales this time of year, there's no reason to over pay.  Go online and check the deals for your local area.  Shop early so you have enough time to shop around.  Waiting for the last minute will surely result in making hasty choices and spending way beyond your budget.

Hosting a holiday party can be fun and festive without breaking the budget, but only if you avoid these pitfalls.  Simple errors like these can create a stressful situation instead of a delightful holiday celebration. Now that you know what to avoid, go ahead and plan that perfect holiday party!

And be sure to check back later this week, as we'll  be sharing some budget-friendly but delicious holiday recipes over the next couple of weeks.