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Sandra Fry: Here are 5 tips to help you host a memorable, yet cost-conscious, event
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Whether it’s long weekends, BBQs, garden parties or milestone celebrations, the expenses associated with summer festivities can add up quickly, especially in light of high food prices.
But if the primary goal of inviting loved ones to an event is to enjoy their company, finding creative ways to curb expenses instead of going all out can alleviate both stress and financial strain. With that in mind, here are some tips to help you and your crew have a memorable yet cost-conscious event.
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Decide how much you can afford
Think of your event budget as your plan to prevent overspending. It will help you prioritize where to splurge and where to be creative with your costs.
Look for ways to save money on regular living expenses leading up to your event, so that you’ve got a little more to spend. Using cash can make it easier to allocate funds wisely, keep track of your spending and avoid financial surprises.
Plan ahead
The trick to saving money on food and drinks is to be strategic with your choices and preparations. The more you plan ahead, the more time you have to ask for help, buy items on sale or source what doesn’t fit the budget.
One option is to tell friends when you invite them that it is a potluck and to let you know what they plan to bring. Preparing food yourself rather than buying premade items can stretch your budget even further. If you’re short on prep time, invite friends over before the event to help chop, mix or cook.
Buy more affordable cuts of meat and marinate them or buy tasty sausages in bulk that can be frozen for leftovers or future events.
Potluck options
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A potluck can be as simple or elaborate as you make it. For a simple potluck, you could supply the hot barbecue and side dishes, and your guests can bring what they want to cook on the barbecue.
If you’ve got foodies in your group, you may want to plan a more elaborate potluck with a special theme and sign-up sheet to ensure that appetizers, entrées and desserts are adequately accounted for.
To keep costs reasonable for everyone, you may want to set a price cap on dishes your guests prepare to help encourage friends and family to stick with less expensive ingredients.
Cost savings can also be realized when it comes to beverages. Let your guests know what you’ll be providing in terms of drinks, and suggest they bring something to either add to that list or enjoy separately.
For example, supply a non-alcoholic punch and let your guests customize it for themselves with their own spirits or wine. Or buy bottles of juice and pop, rather than cans, and supply festive glasses.
Stash a cooler in the corner or include buckets of ice with your decorations so that everyone can keep their cans and bottles cold.
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Shop at home first
Once you’ve planned how to organize your party, shop at home first. And if your home doesn’t have what you need, ask neighbours, friends and family to shop their pantry or cupboards for you. Save money wherever possible by using everything from games to decorations, serving utensils, platters, extra propane, chairs or tables and food items to free up cash to allocate where you need it most.
Depending on the type of event you’re hosting, hiring a caterer could be cost-effective and save everyone the hassle of cooking. You could tactfully mention in your digital invites that instead of bringing a dish, guests are asked to pitch in to cover the catering. Your guests might just love the idea of showing up stress-free, ready to chill and chat without the fuss of fixing a dish.
Small means more
Keeping the guest list small when planning a BBQ or outdoor celebration minus the grill will keep costs down and let you spend quality time with your guests. Strategically schedule your party to sidestep the surge in costs for meat and snacks close to holiday weekends. By planning ahead, your budget can accommodate multiple small gatherings throughout the summer.
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Using smaller plates tricks guests into thinking they’re eating less, which saves their waist while reducing waste and saving money. If you need to buy decorations or party supplies, get one-use items at a dollar store. Pick a colour theme and choose generic decor, then print specialty banners on your computer. Ask your kids to decorate them for a personal touch.
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As you plan your gathering, consider the timing to minimize how much food will be needed. Specify when you extend your invites that guests are welcome to arrive after lunch and depart prior to the usual dinner hour, and to bring along a favourite afternoon snack to share. This approach, combined with other tips, allows you to make memories with your friends without the concern of exceeding your budget.
Sandra Fry is a Winnipeg-based credit counsellor at Credit Counselling Society, a non-profit organization that has helped Canadians manage debt for more than 27 years.
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