Saving money when preparing a movie budget might seem counter-intuitive. After all, this is a document that outlines how much money you’ll need to begin production. But the good news is that your budget doesn’t have to be as expensive as you think.
Assign a Fixed Amount for Each Task
When you create a budget, you need to assign a fixed amount to each task. This means that instead of just guessing how much something will cost, you need to do your research and look up real-world figures.
This is essential because it means you’ll know exactly how much each element of your production will cost. It also means that you can more accurately predict how much you’ll need to raise for your film. It’s important that you assign a fair amount of funds to the different areas of your production to avoid cutting too many corners and producing a low-quality final product.
Make Strategic Cuts
If you carefully review your budget, you should be able to find areas where you can make strategic cuts. As we’ve said, you need to assign a fair amount of funds to each section of your production. If you assign too little, you risk producing a substandard product. If you assign too much, you risk putting yourself in debt. There’s a sweet spot somewhere in the middle that you need to find.
Get Creative with Props and Locations
Producers and directors often overlook the importance of props and locations when creating a budget. This is a mistake because these items can end up costing you a lot more than you expect.
You need to establish what props and locations you absolutely need. If you’ve written a good script, you shouldn’t need to hire any unnecessary props. And if you shoot in an interesting location, you shouldn’t need to hire a set designer. If you want some inspiration, seeing your angel number 1919 can just be a start.
Once you’ve determined which props and locations you absolutely need, you can look around for cheaper alternatives. For example, if your script calls for a car, you might find one at a car dealership or by searching online classified ads. You could also rent a car, provided it’s not too expensive. You might also consider shooting your scene without the car, if it’s not crucial to the plot.