Sharing Daily Discoveries About Personal Finance And Business Topics

Event Spending As A Whole

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It’s Thanksgiving tomorrow for people in the US which usually means families gathering for a feast of sort. I had one friend who seemed semi stressed as she had to buy and prepare a lot of stuff not just for tomorrow’s event she said but rather today for her is a pre-event to the actual holiday which requires an equal level of attention.

It’s almost like celebrating new years eve and then new years by hosting an expensive party on both days. What was interesting to me was the way she chose to budget it as she treated each day individually with its own full blown budget to buy what was necessary. Think of it like having two separate birthday parties for different people where your budget for each is say $200 for the day.

In this case I was thinking budget wise it can be wiser to manage the event as one regardless of how many days there are. So if $200 is your budget usually for holiday events and you decide to do things on two days then managing both days with the $200 limitation right away for both will help you stay in a budget while prioritizing which days are more important to spend further resources on.

It’s very similar to managing finances in a business I’d say as you usually take the amount of money you have for an event to see how to spread it throughout the days as oppose to generically giving yourself a lot to spend each day just because it a different day.

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