There is a Copy Template button on  the bottom of every template and a Copy to Template button on the bottom of every party.

This button on the template will instantly create an exact copy of this template in a new template so you can delete and make changes without losing your original work (basically a save as button).

The Copy to Template button on the party page is nearly identical to the Copy Template button on the Template page- this button will save an exact copy of this party into a brand new template for you to schedule at your choosing.  This comes in handy when you want to schedule a new party with edits you’ve made to the party but not the template or when you've created the party posts entirely in the party and did not schedule it from a template.