A Bean Counter's Way

5 Tips To Keep Party Decoration Costs Low

Selling Party decorations can be very profitable.  Retail stores have made billions from sales of decorations.  When shopping for parties or even decorations, it is easy to find items that work well for our events but also completely blow the budget.  Here are some money-saving tips to save money when having a party or event.

  1. Have a Budget

If you don’t have a set budget in mind for all aspects of any event, then it’s difficult to judge if you are spending more or less than you intended. 

  1. Buy items that can be reused.

I like to look for decorations that aren’t tied to a particular occasion or celebration. Paper lanterns, for instance, are always a welcome addition to any party. These lanterns are a great deal, and I can see myself using them for a variety of occasions. White lanterns are the most versatile, as they may be used for a variety of different occasions. Everything from engagements through nuptials! When it comes to formal events like dances and retirement parties or when the weather turns gloomy in October, black lanterns are perfect. For Halloween and Thanksgiving, I use orange lanterns to accent my decor.

  1. Buy Items that can easily be resold.

My daughter wanted to have a Peppa Pig-themed party for her third birthday.  At such a young age, she knew exactly what she wanted.  I could not say no.  I looked for unique items that would work for the party and that I thought could be resold.  I found someone selling this Peppa Pig Party Picture Frame on the Facebook Marketplace.  I paid 25 dollars for it.  Used it for the party, then sold it for the same about 1 week later.  Not only was my net expenditure zero on this item, but I didn’t end up with yet another decoration in my garage or the trash.

  1. Do a little research.

Places like Dollar Tree, Family Dollar, Big Lots, and the 99 Cent Store can hold a treasure trove of cheap decorations.  You can often find terrific deals at these stores.  I have even been able to use items from these stores and resell them for nearly full price later.

  1. Stay within reason.

It’s difficult to decorate for parties when you want to make sure everyone has a good time while also making sure the location appears amazing. It’s critical to keep in mind that the guests are what make a gathering great. Even if your event is beautifully decorated, that doesn’t guarantee that it will be a success. As much as we’d like things to be perfect for our family and friends on this special day, it’s really about being together. Weddings are, by far, the most common occasion for people to go crazy. When it comes to weddings, I know folks who have spent upwards of $100,000 on their child’s nuptials without thinking about how much they could have saved if they had spent a modest amount on the event instead.

It’s not hard to decorate for a party on a budget, as long as you stay disciplined and keep in mind the long-term costs of the items purchased.  I like to think of the opportunity cost.  Every extra dollar spent is a dollar that I can not invest or enjoy elsewhere.  Every item that I buy that doesn’t get resold or thrown away clutters up the little storage I have in my home. When I keep this in mind, it keeps my decoration buying in check.  Keeping buying in check is key to building long-term savings and staying out of debt.

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