Plan your wedding expense.... How?

COST OF WEDDING  AND HOW TO PLAIN YOU WEDDING


Indian weddings are their Known for its high cost.There will be food, singing and dancing. But gold is the most common color in Indian weddings Well worth the expense. Exact information Although unavailable, today's marriages are more expensive than ever before - You can tell by some studies.
So how to handle these costs? If you don't want to spend your wedding expenses on your parent's retirement collection, or If you want to pay for your own wedding, plan your finances properly.Here are the tips:

Start investing


Planning early - even if you don't know the exact date - is always a good idea. This allows you to quickly manage small amounts of cash, rather than one or two large bundles. This can help you organize your spending slowly. You can calculate this average cost by calculating how many years you have before your wedding, considering the current average wedding expenses.

Where to invest?


Share market is a good option if it is a long term project. If the wedding is at least 4-5 years away, it is possible to cover approximately 40-50% of your savings. Share market may be in the form of hybrid funds or moderate risk-averse equity funds (typically large-cap capitalized funds). The rest can be invested in debt funds such as corporate bonds, short-term and medium-term funds.



Remember, debt funds are the best return Giving, being more liquid and more tax- efficient than bank fixed deposits.


If the wedding is far away — and you think you are earning well enough for your child’s wedding — you can be better prepared. This can be done by starting with a 60-70% stake sale, then starting with mid-cap and more aggressive funds.

If this is a short timeline,Pay only debt options and do not move into equity (equity). Liquid, long and short time funds will work well if your deadline is 1-2 years away. In addition, if you have more years, you can consider pure debt funds such as the Conservative Hybrid Fund and the Equity Savings Fund.

Gold is essential for any wedding. and so A few years before the wedding You may want to gradually collect gold. Invest in gold ETFs or mutual funds in gold. You can make small investments in such funds /withdrawals and buy gold before the wedding.

Plan who and how much to spend


As the cost of marriage grows, so does who It is common for people to talk about what they spend and how much they spend. Cost between the bride and groom's household Try sharing. This will help prevent any excess weight. Once this is done, you can move on to the next step, which is budgeting.

Budgeting


From a financial standpoint, this is the most important part of a marriage plan. It has many complexities.

Start by deciding whether you want a simple marriage or a cheap marriage. Apparent expenses include clothing, jewelry, venues, decorations and food.

In addition, there will be indirect costs. For example, does your home have to be repaired or renovated before the wedding? Traveling and staying expanse of some friends and family?

Add a decent margin for unexpected expenses - up to 15%. Keeping a budget within your options can help you narrow down your choice of venue and food. Budgeting can help you avoid spending huge amounts you cannot afford.



When planning and spending your wedding, do not overlook your other financial goals. Marriage expenses are just expenses. They are not going to give you any income.


So if you want to fulfill other life goals, don't waste your investments on wedding expenses. Set aside some investments for certain goals.

Make sure you plan a little with your investments and spend your money wisely so you can plan your finances accurately. Remember to start early and invest wisely.

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