The basics of budgeting does not change whether you are budgeting for your family or for an event. In all cases, income minus expenses equals profit. The details that change are the amount of money invested in the budget and the expected outcome. A recent survey found that 36% of event planners spend most of their budget on the venue and 34% spend most on catering . With venues and/or catering taking most of your budget, you can see how important it is to track your budget dollars carefully to ensure financial success. Don’t leave anything to chance.
Use a tool such as thisBudget Worksheet to record all transactions, not just actual transactions but budgeted and expected transactions as well. The Eventzilla Budget Worksheet will help you to:
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- Forecast, budget and track not only ticket sales but also sponsorship dollars and other income sources
- Forecast, budget and track all event expenses
- Calculate a comprehensive return on investment after the event is over
