How to Create a Budget for a Family Reunion
Planning a family reunion budget can keep you from having to ask for more money to pay vendors on reunion day, or worse, paying expenses out of your own pocket. To plan the budget successfully, begin several months in advance and include every tiny detail you can think of for the big gathering. As the time grows closer to the event, there is a possibility that the attendance number may change; therefore, the budget needs to be reviewed and revised several times if necessary. As a general rule, estimate high when planning the budget to avoid any embarrassing shortages at the event.
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Instructions
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List every possible expense on paper or in a spreadsheet program on the computer to create the preliminary budget. Don't forget to include things like stamps for mailing invitations, eating utensils, trash removal and tips and gratuities.
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Add a miscellaneous expense line to cover anything you may have missed in the original list. Estimate that these forgotten or unexpected expenses could cost five percent of your overall budget. Miscellaneous expenses can include anything that doesn't fit into your main categories or doesn't need a category of its own.
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Estimate the costs for each item. Call local vendors for quotes on the services you intend to contract. If possible, get the estimate in cost per person rather than overall cost. This proves useful once you are able to obtain an accurate headcount. Remember, the quotes the vendors provide are considered estimates and the final cost could rise slightly.
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Adjust any pre-estimates you have made based on the quotes you have received. Look for ways to cut costs in areas that may have become too high, such as having a potluck rather than a catered meal or sending out email invitations instead of postal mail invitations. Also consider family members who may be able to provide goods or services in exchange for advertising for their business at the event to cut your overall costs.
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Add a line for the additional cost of family members with special needs, financial or physical, and for guests of honor. Physical needs may include the addition of a temporary handicap ramp or transportation costs.
In most instances, the guest of honor does not pay for their attendance. Estimate how many of them may not be able to pay for the expenses and take note of it on your budget sheet. When you are dividing the cost per person later, you need to know how many are paying, as opposed to how many are participating.
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Coordinate with other committee or family members that are helping organize the reunion for how money can be raised to offset the costs for the event. Some family members and local organizations may be willing to donate money, fundraisers can be held or T-shirts can be sold to family members.
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Estimate how much money fundraisers and donations may bring in and subtract the amount from the overall budget.
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Divide the budget by the number of paying attendees. Remember not to include the guest of honor or any family members who cannot afford to pay but would still like to attend. This provides you with the cost per person.
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Tips & Warnings
It's a good idea to include other family members on ideas to offset any costs.
References
Resources
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