Budget
Free templateEvent budget template
Updated
The estimate, the agreed price and the final cost of every line side by side, with running totals, so overspending shows up while you can still fix it.
When to use it: Start it before you ask for quotes. Update a line every time something is agreed or paid.
Budget summary
Costs
Scroll the table sideways to reach every column.
| Category | Item | Supplier | Estimate | Agreed price | Final cost | Paid so far | Balance due |
|---|---|---|---|---|---|---|---|
| Total | 0 | 0 | 0 | 0 |
Before you close the budget
Free to use and adapt for your own events. Check it against your venue’s rules and the laws where your event takes place.
How to make an event budget
Every line in an event budget has three numbers: what you expected to pay, what you agreed to pay and what you actually paid. Most budgets track only one, which is how a few hundred over on drinks becomes a surprise on the final invoice.
Fill in the estimates before you ask for quotes, then update each line as things are agreed and paid. The totals under the table add up as you type. Start from the product launch example if you’d like to see it filled in.
Step by step
Estimate every line first
Put a number against each line before any quotes arrive. It’s the only way to see later which quotes came in high.
Record the agreed price once it’s in writing
A price mentioned on the phone isn’t agreed. Wait for the email or the contract.
Log payments as they happen
Deposits are easy to forget by the time the final invoice arrives. Note the amount and the date the day you pay.
Close it within a week
Check every line against the final invoice while you still remember why it changed.
Mistakes to avoid
- Forgetting tax and service charges until the invoice arrives.
- Spending the contingency on upgrades. It’s there for problems.
- Not checking whether the caterer charges on replies or on the guests who actually came.
- Keeping the budget in one person’s spreadsheet that nobody else can see.
Common questions
What should an event budget include?
Venue, catering, drinks, sound and lighting, staff, decor, print, photography, transport, gifts, insurance and a contingency. Not every event needs every line, but check each one before you leave it out.
How much contingency should an event budget have?
About 10% of the total is a common starting point. Hold back more for a first event of its kind, an outdoor event, or anything priced in another currency.
What is the difference between the agreed price and the final cost?
The agreed price is what the quote or contract says. The final cost is what the invoice says after the event, including extra hours, bar tabs and late changes. Explain the gap in your report.