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Getting married and worried about financial planning? Drop all worries now!

30 Sep 2014 |By: Team Finalaya

Financial Planning and your wedding

If you have your wedding planned in a year or so, you better plan it like a pro. Getting married is one of the most memorable moments of our lives but the funds involved are a blood sucker. We tremble at the investment calculation of all the expenditure that is incurred and even dread the thought of a financial emergency.

Just look how these letters will work as key to memorize and plan your special day in such a way that it’ll leave an impact on all and still not declare you almost bankrupt.

A stands for Account

Open a separate bank account for your nuptial expenditure. You can choose an option like the one suggested in a previous blog, i.e. Sweep facility or auto FD, Direct Debit, or a standard savings account and make contribution, this builds up as a handsome amount over a period of time.

Read More- Do you have idle money in your bank account? Opt for Auto FD

B stands for Bargaining

You have to haggle like a local shopper because don’t we all know that the first price is just an indicator of the starting point.

C stands for Contingencies

Make sure that you have some funds for managing the “out of budget” expenditure. A survey reveals that most of the people end up over spending in their weddings by 20% or so. This is a hateful thing to happen, but it does!

F stands for Financial Planning

This is the bad part, financial planning, how we avoid it! You have to do it, plan with your parents about what they are spending and how much you can contribute. This will make your planning efficient and you will not have to look for last minute options to raise money.

H stands for Hire

Almost all the decorations, furniture, lights, dresses, etc can be hired and obtained on rent. Why spend such unnecessary big fat money on things that you are not going to need again. Act wisely!

L stands for Last minute deals

Sometimes people end up getting great offers from venue and catering service providers due to last minute cancellations. Couples planning a wedding in haste can make use of these fab deals.

Read More- Not shopping online? Know what you are missing out!

U stands for Unnecessary things

Know the difference between the essential and unessential things. Do not drive yourself crazy by adorning your wedding venue, tables, and other arrangements with such unnecessary things that come expensive and are not so relevant. Choose flowers rather than costly decorative that are not even worth waste paper after one day, for example.

V stands for VAT

This one is the killer of all the expenditure. Financial calculations have shown that this element alone increases the expense by about 20%, so make sure that you have this one under control in the budget chart. Read all the small print stuff and terms and conditions apply clause.

Start your married life with some careful planning and discrimination and it is sure that things will be as dreamy as you want them to be without scaring you terribly.

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