![]() So it's really important that a couple sets a budget at the start and tries to stick with that as much as possible.” “Many couples will start the wedding planning process and see what things cost and say, ‘It costs what it costs.’ But very quickly they hit a number where they realize that it's no longer affordable to them. The best way to go over budget is to not have a budget,” says Alison Semmler, owner of Lifestyle Maven Events in NYC. Set a Budget With Clear Priorities-and Stick to Them Here’s advice from wedding experts about what you can do when you’ve gone over your budget. Next, get back on track with wedding spending. ![]() What do you do next? Well, first take solace that you’re far from alone: Some 45 percent of couples spent more than they planned, according to a recent study, by an average of $7,300. You broke the cardinal rule of creating a wedding budget and sticking to the recommended spend for each line item. Did you just go over your wedding budget? Read on to find out how to move forward. Speak to friends and relatives who have farmhouses with large gardens.Originally published on Zola - see here. Similarly, farmhouses are reasonable options too. ![]() Getting married in a temple cost practically nothing. Sikhs get married in a Gurudwara and Christians get married in a church, so can you. If your estimated wedding budget is so tight that it doesn’t allow much spending on a wedding venue because you have given more weight to the reception than the ceremony, and in case you're a Hindu, try the temple.Similarly, you could bundle up mehndi with the sangeet. You can have the wedding earlier in the evening, followed by the reception, so you don’t have to have a separate function. Better still would be cutting down on the number of functions. Bundling all the events together serves two purposes – it saves time and it saves money. within a couple of days probably at the same venue. If possible, perform your other ceremonies like the mehndi, sangeet, etc.Have the wedding on a weekday instead of a weekend.Have the wedding during an offseason as hotels and banquets offer deep discounts during this time.Instead of an upscale hotel or a wedding lawn in the heart of the city, book a venue in the outskirts.Choose a venue that allows outside catering services.If you don’t use anything, you won’t incur any interest. From your approved credit amount, you can withdraw what you need and pay interest on only what you’ve used and not on the entire credit limit. MoneyTap offers a personal line of credit of up to ₹ 5 Lakh. It is best to keep a ready line of credit handy for wedding emergencies. It is the best type of loan to cover miscellaneous or ad hoc costs as and when they arrive. You can easily withdraw ₹ 15,000 from your approved credit line and pay interest only on the borrowed amount. In the example mentioned above, a personal line of credit works incredibly well. It would also mean paying interest on the full amount when your requirement was of only ₹ 15,000. Getting a personal loan would mean getting access to a large amount when what you need is just a bit. Later, you realise that you need extra ₹ 15,000 for an expense you’ve not accounted for in the wedding budget. For them, there are other options to finance the wedding.Ī personal line of credit for a wedding is an unsecured line of credit that comes handy when you need immediate cash to meet a wedding expense.įor example, you’ve budgeted all the elements of the wedding. That said, there’ll be people/parents who haven’t planned the investments for a wedding, or those who have very little time to plan. Popular jewellers like Kalyan Jewellers, TBZ, Joyalukkas, have schemes that allow you to invest as little as ₹ 1,000 every month to buy gold and diamond jewellery at a discounted price. So, parents invest in jewellery or buy gold coins/bars, which can later be used to make trendy jewellery. Gold has a significant role in an Indian wedding. Newer parents invest in high return SIPs, mutual funds, and gold bonds or gold-based investments with amounts as low as ₹ 500 or ₹ 1,000. The traditional way to go about it is putting money away in a fixed deposit for a long term. Indian wedding is a major life goal and most parents (especially of a girl’s) invest much early in life. Most Indian parents start investing for a wedding as soon as a girl child is born. How Indian Parents Get Financially Ready for an Indian Budget Wedding
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