There are a number of instances when you might find yourself paying for accommodation, or for a venue, and the question of cost will likely always be lingering at the back of your mind. The answer to this question might usually seem to be to find the option that ticks all of the necessary boxes while being at the lowest price, but are there times when paying more might make sense?
Asking this question might seem like an action that’s at odds with your budget, but it’s worth getting an idea of what might be improved or opened up when you pay more.
A Special Occasion
The time that might spring to mind first of all could be when you’re organizing something to mark a special occasion. If you’re getting married, for instance, you’re going to be attracted to wedding venues that feel as though they best fit your vision for the day, even if that isn’t the lowest cost option around. Similarly, if you planned on travelling somewhere for your honeymoon or an anniversary, you’re going to want that occasion to feel special, and that can be enough of an excuse to not feel tied to a budget.
That being said, it’s not always easy to disregard your financial constraints, and if you feel as though spending more is actively detrimental to your enjoyment, then moderation might be worth keeping in mind.
An Effort to Impress
Taking another perspective, there might be times in business where you’re having to host an event for the sake of improving your position. This might be a work party, a time where you’re hoping your employees can come together and bond in a way that leaves a positive impression of their careers with you, or a networking event.
These occasions will still have you working to a budget, but you can engineer the event so that the money is spent in the right place to leave the biggest impact. Again, this might be the venue, as this will be one of the most noticeable aspects of the occasion, but it also might be in something like the catering. Knowing the kind of perception that you’re hoping to make of your brand can help you guide your spending.
Improved Locations, Improved Amenities
Booking a holiday ahead of time can make many of these questions easy because it’s all hypothetical. You can book the cheapest flight, even if it’s with a budget airline at an awkward time, and stay in accommodation that’s in an inconvenient location because you don’t have to physically experience those things right away. When it comes around, you might be more keenly aware of the downsides of compromise, especially if you find that you would have rather paid the excess. For example, when it comes to accommodation, choosing to stay in a better location can put you closer to the places that you might be going more regularly, potentially saving you a lot of time (and even money) spent travelling back and forth.
