How to save money for your wedding

It’s the wedding season! If you aren’t the one getting married, I am sure you will have quite a few invites of which you will mandatorily have to attend a couple. It’s the season of weight loss planning, shopping, Travel booking & mostly a trip back to nostalgia on meeting family & friends.

Weddings, especially in India are an expensive and extensive affair. The shenanigans, fun, frolic and festivities is what makes an Indian wedding. The ‘Vows’ obviously is the foundation of any wedding but Indian weddings go much beyond and deeper. The Confluence of two families, the preparation that goes on for months, the food and its glory with the added extravaganza of lights, colors & Bollywood is what makes it absolutely worthwhile.

So, with all these facts and factors the expenses are going to soar. Many Indian families start saving for weddings from the time their children are born and see the day as a way to celebrate with everyone in their lives, even to lavish extremes.

Here are a few tips on how to save or rather reduce costs at your wedding!

  • Shop Off-season – Now you obviously cannot avoid marriage season as Indian weddings are governed by dates and muhurats so get started early. Go hit the market and pick up that dream attire.
  • Single Venue – Everything in one place/ area. You can go big on negotiation and you can completely cut down on the costs and hassles on transportation of guests.
  • Save on Photography – You can actually skip the famous and expensive photographers and look for the less experienced ones. Dig up profiles on social media to see their work and plus you can always negotiate better.
  • Points on cards– Use all the points earned on your credit card to purchase tickets or book hotel rooms for relatives or family members.
  • DIY – Put your friends and cousins to work on creating the little artsy and crafty stuff. The photo booth props, return gift wrappings just to name a few.
  • While reducing cost should be a priority, saving up for the big day should be big in you to do bucket list as well. Parents plan for their kids big days years in advance and as a responsible adult you should too not only for the wedding but also for your future.

How to save money prior to the Big Day

Long term savings– If your wedding dates are fixed for a later date and is a year away or if you know you might get married in the near future start saving and investing. If you have a time frame more than a year you can get a little bold with your investments. Options like Mutual funds, stocks and the traditional fixed deposits are a good bet.

Short Term Savings– If the wedding date is almost here or you do not have a time frame of more than 3 or 4 months, save and invest that savings into short term options.

Kredx provides investors option to grow their money in 3 months.