How to finance a wedding in India

How to finance a wedding in India

Feb 06, 2023

Rajeev Kumar

As the wedding gets closer and closer, the expenses start going higher. Here are some tips to make it easier for you to plan the finances for a dream wedding.

Determine an appropriate upper limit on the wedding expenses. The best way to set an upper limit is by fixing a budget for the wedding.

Step1: Fix a budget

List out all the expenses based on their priorities. Remove low priority expenses if budget is exceeding your spending limit.

Also create a contingency fund that should work as a buffer to meet unplanned expenses

Once your wedding date is fixed, you must start saving up for it.

Step1: Arranging money

When wedding time is closer and you have a budget in hand, you should accumulate all the funds in one place so that you can use them efficiently.

Start putting your money in liquid instruments that provide the safety of your money and instant withdrawal.

Options you can explore - Liquid mutual funds - Fixed deposits, - Recurring deposits - High-interest savings accounts

Explore loan options - Loan against securities - Personal loan - Wedding loans. - Overdraft against Fixed Deposit

Avoid unplanned shopping

Make a shopping list, identify shopping destinations for best offers and discounts, identify the most efficient payment tool and divide your shopping list into multiple days.

Smartly purchase jewellery

Choose the appropriate shop, take proper bill. Compare the rates your jeweller is offering with market rate