Budgeting for Your Student Org 101
Creating a budget is an important part of your organization's planning process. A well crafted budget can help you achieveyour organization's goals and should reflect your organization's mission/values. Use the following to develop your organization's budget for the upcoming year
Questions to Consider:
- What are my organizations goal's? Does your spending align with your orgs values?
- What are our income sources?
- Reflect on last year's budget: Where did you lose money? What was successful?
Do Your Research
- Obtain quotes on potential costs- do not always overestimate. Shop around for quotes in order to secure the best deal and stretch your dollars even further.
Provide Monthly Budget Updates
- Build in monthly budget updates into your meeting to ensure that you are staying on track with your spending and hold each other accountable.
- Don't be afraid to ask for current discounts or specials or check for free services.
- Collaborate with other orgs.
- When printing banners, t-shirts, or other materials, DON'T include a date so that you can reuse items again for future events
- Look for coupons when purchasing things online
- Plans events in advance so thatyou can shop for the best deals
...for more tips, head to our Leadership Library!