Great wedding budget
If you think that grand weddings happen only in films or in royal families, then it is no longer so. Nowadays, even common people are spending lakhs of rupees on heritage venues, five-star hotels, special themes and expensive costumes to make their wedding memorable. The only objective is that this special day of life is always remembered.
But many people wonder where such a huge amount of money will come from for such an expensive wedding? The good thing is that in today’s times, wise investment can help you budget for a wonderful wedding without any burden.
It’s easy to prepare your own wedding budget
Financial experts believe that today investment and fund planning has become easier than ever. If you want to spend lavishly on your wedding, it doesn’t require ancestral property or huge savings. The only thing necessary is an early start.
The sooner you develop the habit of saving and investing, the bigger your fund will be with time. The special thing is that in the initial career, responsibilities are less, hence the investment potential is also high.
A fund of Rs 1 crore can be created in 810 years
With the help of good planning and regular investment, any person can raise a wedding fund of up to Rs 1 crore in 810 years. For example, if someone’s starting salary is around Rs 1 lakh per month and he invests regularly for 1012 years, then there will be no need to depend on parents for marriage. This fund will help you fulfill your dream of getting married.
What is the estimated cost of a grand wedding?
If you are planning a grand function for 100 guests in a five-star hotel, the total expense can easily reach around Rs 1 crore. The approximate expenditure could be something like this, Rs 4050 lakh on food and venue, Rs 57 lakh on wedding costume and Rs 3035 lakh on other things like decoration, photography, makeup and event planning.
How to make monthly investment plan?
If someone starts planning at the age of 2223 and wants to accumulate Rs 1 crore in 10 years, then he will have to invest approximately Rs 45,00050,000 every month in equity mutual funds. For example, if you put Rs 50,000 every month in an equity fund for 10 years, and the average return is assumed to be around 12%, the amount can reach around Rs 1,12,00,000.
In this way, you can increase or decrease the monthly investment according to your capacity and wedding budget. For example, if your goal is to create a corpus of Rs 75 lakh, then investing around Rs 33,500 per month would be sufficient.
Result: The dream of a wonderful wedding will come true.
The dream of a wonderful wedding is fulfilled only when planning is started on time. Instead of waiting for your income to increase, start with a small amount and gradually increase it. In a few years, you will have enough funds to organize your own or your children’s wedding with full grandeur.