Wednesday, 27 October 2010
Tips on Financial Planning for a Wedding!
Don't Go Bust with Wedding Expenses
In India, weddings are seldom a simple affair. Inability to keep a tight lid on expenses may result in family members resorting to high-cost debt like personal loans and credit cards. To avoid such hassles, you can devise a meticulously planned budget after taking your affordability and preferences into account.
Take Budgetary Vows: The challenge lies not in drawing up a budget, but in sticking to it.
Trim The Frills: While devising a budget, make a list of areas where cost-cutting can be carried out and the aspects where compromise is a strict no-no for you.
Learn The Slow Waltz: You can shop for the traditional bridal gold and diamond jewellery well in advance. Also, you can purchase in a staggered manner so that you even out the impact of a price rise
Get Smart With The Trousseau: Planning a trousseau can be done intelligently where you need to have a list of all ‘must haves’ and then lace it with frills if budgets permit.
Dream Décor: This is one area, which along with food, accounts for almost 50% of the wedding expenses. But it’s also easier to cut corners here as compared with the trousseau, make-up or even jewellery. You can make subtle changes which can lower your expenses substantially.
Serve Soul-Stirring Food : Finally, when it comes to food, don’t try to capture the entire globe on a single plate, people actually look forward to relish some local cuisine at weddings Hence, it’s better to stick to two or three cuisines.
Source :ET
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