Whether it’s a Halloween house party or you want to throw a birthday party for a fellow student, you need to make sure you budget. It’s really easy to overspend in the build-up to a party. Here are a few tricks to budget for any student party.
Before I move onto the tricks, I want to discuss the whole buying of alcohol. As a student, there’s nothing wrong with getting people to bring their own drinks. When my flat mates and I used to throw our student parties, we’d supply water, some cordial, and the odd bottle of pop. We’d have our own alcohol, but it was up to visitors to bring what they would prefer.
I know some people will say you should supply for your guests, but you’re students!
So, here are the tips for the rest of the budgeting.
Create a Kitty Between the Hosts
Are you hosting on your own or will you host with others? When it was a house party, as flat mates we would usually put a bit of money into a kitty together. If I was hosting with other friends at a different house, we’d usually have a kitty/a part of the party to organise ourselves.
How you split the kitty is up to you. If you’re going to do a money from the pot to spend across the board, make sure you all put in the same amount. If each person has a specific area of the party to organize, the spending is up to them but you may want to discuss a maximum.
I’m going to assume you all put the money into the pot to dish out across the board.
Decide What You Need
What are you going to buy in for the party? You’ll need a few snacks and may want to get some soft drinks in. You may also want some decorations.
I used to throw a bonfire night party, so would always include fireworks into the budget. It doesn’t cost that much to get a small selection—just don’t drink and light!
Make a list of everything that you need to get for the party. You then have an idea of how far the budget needs to stretch.
Don’t go all out with the food! A few large packets of crisps and some dip will be perfect. You could also get packets of mini sausages, sausage rolls, vegetable sticks, etc.
Set an Amount for Each Section
Now divide your kitty up across the different items that you need. You could split this evenly or set a larger amount for certain sections. For example, you can keep the cost down on the decorations and spend more on the food and drink if you want.
Make sure everyone is aware of the amount that there is to spend. If people decide to go over, then it comes out of their own money. If someone wants something special that nobody else likes or wants, they shouldn’t expect the whole group to pay for it.
Take a Look at Markets
Before you go to the main stores, take a look around the markets in your area. They’ll usually have decorations and you may be able to find cheaper vegetables to chop up into sticks for serving. There are also usually cheap costumes if you want to dress up for your party.
Then take a look at the pound stores in your local area. They tend to have cheaper decorations than you’ll find in the main high street stores. It’s all about maximising your budget.
Divide the Leftover Money Back Out
If you happen to have done well with your budget for your student party, it’s time to decide what you want to do with it. You have two options:
- Divide it back up between you
- Put it in a jar for the next student party
The choice really is up to you. Depending on who you are hosting with, you may prefer to divide the money back up equally and any amount left over that doesn’t divide back up evenly goes into a kitty.
There you are! You can budget for any student party without any hassle at all.