Catering, decor, gifts, venue, the list of things to be done at an Indian wedding is endless. But more overwhelming is the cost associated with each of these. Additionally, there are always some last-minute arrangements, some plan changes that can involve you spending more than your estimated budget. Since cutting corners is not an option and digging into savings may not always be possible, a marriage loan can save your day.
Here is how you can manage your wedding expenses with a marriage loan.
- Make a budget
The first step towards managing your wedding expenditure is to make a budget. Create a wedding checklist. Add all the minute details that you need to spend on in the marriage. Account for every vendor like catering, venue, decoration, parlour, outfits, etc. Also, allocate the probable cost you would need to spend for them. These details will help you prepare a budget. Once you determine the costs of each requirement, ensure that you do not overspend beyond the budget.
- Shop in the off-season
Everything becomes expensive during the wedding season. Therefore, ensure that you book services and shop in the offseason. Do not keep any work for the last moment as, then, you are bound to overspend for urgent needs. For example, you can shop for trousseau during the festive season when there are heavy discounts. Similarly, buy winter clothes during the summer months. Also, book for all the services beforehand to avoid hassles in future.
- Review your finances
Once you have made the budget, review your finances. Look for sources from where you can arrange funds. Often parents like to contribute to their children’s wedding. If your parents can help you out, you will have more funds to manage your wedding expenditure. But if not, don’t worry, a marriage loan can help you. You need not liquidate your investments or deplete your savings. You can apply for a personal loan for marriage and pay for all the expenses easily. Calculate the total amount you can spend out of your pockets and how much more you would need. For the remaining amount, you can use the marriage loan. However, ensure that you borrow as per your affordability. A personal loan EMI calculator would help you borrow the right amount of loan.
- Ditch extravagance
Showing off at weddings can make you spend beyond your budget. Avoid getting into extravagant spending. Hire new service providers who are skilled but cheaper. As they are new, they usually levy nominal charges than the well-established vendors. Novice professionals can help you enjoy your wedding on a budget. Similarly, avoid opting for a grandeur invitation card as it is hardly looked at after the wedding. Choose a simple invitation card that gives the message. Moreover, digital cards are more in trend nowadays. They can be made at half the cost and are convenient for the guests.
You only marry once! Therefore, while it means everything should be special, you must keep your finances in check for future needs. The secret to managing your wedding expenses efficiently is to keep things minimalist yet elegant. A wedding loan can help you meet all your wedding loans without emptying your pockets. Apply now.