KEY POINTS\r\n\r\n \tMake sure to have a financial buffer.\r\n \tSend travel dates and predicted costs to guests early.\r\n \tSelect a destination that minimizes travel costs.\r\n\r\n\r\n\r\n\r\n\r\nIf movies and TV shows have taught us anything over the years, it\u2019s that the bachelor and bachelorette parties are meant to be epic experiences for all involved. Unfortunately, the studio budgets used to create the elaborate depictions in pop culture aren\u2019t exactly what the average maid of honor or best man will have available. So how do you throw a baller bachelor or bachelorette party on a budget?\r\n1. Determine a \u201creasonable budget\u201d and stick to it\r\nKick off the party planning by speaking with your bride or groom about her or his expectations for the event. There may be a couple of weeks of back-and-forth to get to a place that one could call reasonable, but it's worth talking about upfront. You might also want to plot an off-the-record chat with the bridesmaids or groomsmen to determine their maximum budgets as well. Once a budget has been set, then it\u2019s your job to stick to it!\r\n2. Eliminate too many voices\r\nEveryone, and I mean, everyone is going to have an opinion about the party. It\u2019s too expensive, it isn\u2019t lavish enough, they don\u2019t want to go play laser tag, their spouse says anything too scandalous is not an option\u2026you get the picture.\r\n\r\nIf you\u2019re the best man or maid of honor, the vote is ultimately up to you (well, and the bride\/groom). However, it\u2019s polite \u2013 and worth keeping the peace \u2013 to also respect the wishes of the bridal party. Everyone else \u2013 they can just show up and have fun. Don\u2019t engage in asking everyone\u2019s opinions of what should happen and instead just send out a predicted budget and outline of what\u2019s happening and when.\r\n3. Send out travel dates and predicted costs to guests early\r\nIt\u2019s rare that everyone on the invite list will show, or will show for the entire time. This is one reason it\u2019s important to send out both travel dates and a predicted budget outline early. You can then weed out the potential no-shows, which is going to mean a bigger expense for the rest of the attendees, and adjust accordingly.\r\n\r\nType-A party planners may also want to break down budgets based on different scenarios of people attending and include in the price of covering the bride or groom. Trust me, the guests will appreciate the extreme organization.\r\n4. Minimize travel costs (if you can)\r\nDoes your bride or groom-to-be feel dead set on that Vegas bash or New Orleans extravaganza? Before you panic, present a few alternatives. Does 50 percent of the guest list live in one area? Then try to do it there so you can actually have a higher budget for entertainment or splurge on a fancy-pants staycation accommodation. People tend to be more generous if they don\u2019t have to fork over money for costs of flights \u2013 and be sure to pitch that to your bride or groom.\r\n\r\nStill no chance of trying to keep the location affordable (even after your well-planned presentation)? There are a few hacks you can use to stay within the budget.\r\n\r\n \tGive people at least four months notice and churn a credit card for a free flight (only works if you aren\u2019t going into debt to get the reward).\r\n \tLook into AirBnB, HomeAway and Bookings.com to get a location where you can all stay for the best price. The advantage of renting an apartment or house is the ability to buy booze and food to keep in the place so you aren\u2019t eating out (or paying for drinks) the entire weekend.\r\n \tWork in the cost to cover the bride or groom in the initial budget you send out to potential guests so they aren\u2019t blindsided by an upcharge later.\r\n\r\n5. Figure out entertainment & presents\r\nThere are plenty of clich\u00e9s about what\u2019s meant to happen at a bachelor and bachelorette party \u2013 but please listen to your bride or groom. Maybe your bride isn\u2019t into the idea of a man getting down to his skivvies, but taking a pole dancing or burlesque class is the perfect combination of sugar and spice. Your groom might not want scantily clad women and Cuban cigars, but always wanted to go to a gun range.\r\n\r\nUse sites like Groupon and Living Social to see if you could get a deal. You should also just Google the event + coupon or deal to see if there are any discount codes floating around the web.\r\n\r\nDon\u2019t forget to double check that all the guests plan to participate or at least chip in on the costs of various events. It\u2019s always frustrating when someone bows out of an activity and then declines to financially contribute.\r\n\r\nWhen it comes to presents, it\u2019s best to also keep this to a minimum, especially if you\u2019re traveling. The bride or groom might not be able to stuff everything back in suitcases for the return trip. Your guests are also already paying plenty of money to attend, which means buying presents could just frustrate folks. Put a dollar cap on any gifts ($20 is usually palatable).\r\n6. Get deposits from guests\r\nVenmo and other instant pay apps is your best friend right now, especially if you\u2019re the one putting down the deposits on hotel rooms and entertainment. Don\u2019t be shy about asking guests to send an initial deposit your way to help cover the costs. This also reduces your need to hound people at the actual bachelor or bachelorette party.\r\n7. Have a buffer, then relax and have fun\r\nBeing a host of a bachelor or bachelorette party can be stressful to your financial and mental health. Prepare yourself for the possibility of surcharges or guests dropping out by adding a party buffer in your budget. But once the good times get going, it\u2019s time to relax and just enjoy the experience with your closest friends.\r\n\r\nIf you're planning a bachelor or bachelorette party this wedding season, track all of your party expenses with Personal Capital's free app!