Getting Married? Here Is How You Can Finance Your Wedding
Planning for a wedding can be a costly affair. From venue to catering bills, all these things could cost you way more than you imagined. If you are stuck in such a situation, don’t worry, we have listed a bunch of ways to fund your dream wedding—from preparing a budget to taking out a loan.
- Save up in advance: Saving money in advance can be fruitful for you. While planning your wedding, you will realise how many things you need to buy. Hence, keeping aside a big chunk of your income can help you finance these expenses without any trouble.
- Prepare a budget: A wedding budget is crucial if you are struggling to scrape together funds for your wedding. It would help you decide what you are prepared to pay more money for, and what you would rather forgo or leave out. Remember that your wedding list should be manageable and realistic. You don’t need to include all traditional elements if you don’t want to. For instance, some brides may pay for their wedding dress, but save money on catering bills or wedding entertainment as they perhaps don’t deem it as important.
- Ask for help from relatives: You may ask your close relatives to help you out in financing your wedding. Don’t feel guilty or embarrassed about it – this financial help is a prominent tradition in some cultures. And, if they’re willing to help, why not take it?
- Courthouse wedding: A great way to save money is to have a courthouse wedding. This kind of wedding ceremony is relatively inexpensive as compared to other ceremony locations, and having your wedding here will allow more budget for other areas of your wedding.
- Wait until you are financially stable: A great way to fund your dream wedding is to wait until you’re actually financially stable enough to host it. Unfortunately, some couples already in debt still go ahead with their wedding plans, and perhaps are left disappointed in the end as they had to exclude certain things they had always imagined would be in their perfect wedding.
- Opt for a personal loan: If you still don’t have enough funds to finance your wedding, you can opt for a personal loan. Nowadays personal loans are available easily and quickly. However, before signing off the final deal, you must compare the various loan options and interest rates offered by different lenders. You should also check for EMI options and loan tenure that will work for you.
Further, it’s also advisable to use a personal loan EMI calculator to calculate the monthly installments that you will be required to pay. It will ensure that your future finances are not being affected after the wedding is over. Consult with your partner about the repayment options, and look for something that you are both comfortable with. Applying for a personal loan requires a good income and credit history and if you have one, getting a loan will not be difficult. Compare options from various lending institutions and choose the one that will make repaying the loan easier on your pocket.
Hence, following the above-mentioned tips could help you finance your dream wedding without any hassle. There are various banks and NBFCs that offer personal loans at lucrative interest rates. So, get going and have a grand wedding.