Wedding is the biggest decision of one’s personal life. And given the Indian cultural landscape, it generally turns out to be a very big financial decision too.
Weddings these days have become a fairly expensive affair. You have to pay for venue, its decorations, food catering, photography, entertainment, purchase clothes and most importantly jewelry. All these require a lot of money that can easily burn a big hole in anybody’s wallet.
In fact, people save money for their children’s wedding for years. Even then, the savings might not be enough for today’s high wedding expenses. But that should not stop them from creating a once-in-a-lifetime kind of wedding experience.
Wedding is a time to make your wishes come true! And you should not let money stop you from doing so.
But how to fund the gap between low savings and higher wedding expenses?
The answer is Wedding Loans.
A wedding loan is a special class of personal loans that are increasingly becoming a preferred option to pay for wedding expenses. This trend is especially catching up with the younger generation.
The benefits are quite obvious. It makes the funding easier. And it also allows you to use your existing savings for more productive investments instead of spending money on wedding related expenses.
A wedding loan also helps in the proper planning of your finances. Once you take a wedding loan, you will have to pay a fixed EMI, which helps in proper planning of the monthly budget after the marriage
That’s not all. Think about the other possibilities.
You can even combine your savings and wedding loan smartly. After the wedding, you will need to spend money if moving to a new residence. So you don’t want to use up all the money you have saved up on wedding alone. But you also want to go on a luxurious honeymoon. In such cases, combining a wedding loan with your savings can help you manage your finances much better.