Financing an event can be expensive and as an event planner, it’s your job to cut costs and make things happen under the budget of your client. If you’re trying to finance your event creatively, then you might want to use some of the suggestions below. There are creative ways to finance an event affordably and by using them, you can throw better parties for less money. Saving money in one area allows you to splurge in another, making the event more enjoyable and exciting for everyone involved.
Although credit cards are one of the more common types of financial assistance, they are still a valid option. Using a credit card to finance your event allows you to make payments toward the debt throughout several months if you need to. Of course, your payments will be subject to a specific interest rate that is set by the credit card company if you do this. To avoid paying interest, you can pay off the debt in full every month, rather than paying less than what you owe.
Paying in cash is the wisest thing that you could do. If you really want to protect your finances and not overdo your spending, cash is the only way to avoid a financial risk. Using your savings account, you can withdraw money and finances your event using hard earned cash. If you have been saving money for this specific event, now is the time to let the chains off and start to spend it wisely.
You can finance your event very affordably with a payday loan. They are sometimes scrutinized for having a higher interest rate than credit cards, but they provide a reliable source of cash when you need it. Payday loans are short-term as well, so you can easily make repayments within one to two weeks after receiving the loan. If you need immediate financing, payday loan companies are always available and with their easy approval process, you’re practically guaranteed the cash.
Sell Your Things
Selling old things or belongings that you no longer use or need can be a good way to get financing for an event. If you have anything that you could make do without, now’s the time to sell what you owe and see if you’ll make enough to fund the event. A large party can be rather expensive to put together but if you have enough things at home that you’re willing to part with, you could get every penny you need from a simple garage sale. Think about listing your things online through Craigslist or EBay as well! In today’s competitive online market, putting things on the internet is usually the best way to get a sale.
If needed, you can always take out a bank loan to fund the event. It can be expensive and the interest rate might be a deterrent, but bank loans are always dependable. They generally have lower interest rates than payday loans or credit cards and your monthly payments will be considerably lower as well.
Dale Smith is financial blogger with a passion for frugality, which sometimes brings on the creative side. He believes that is you have big plans for an event, that your passion will find a way to make it happen.
Photo Credit: kenteegardin