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Article - Managing the Wedding Finance

One of the greatest tensions during a wedding is arranging the needed finance. The customs followed by different communities in India are unique to every state. Some wedding are conducted at the groom’s expense and others by the brides. The expectations, social status and family trends decide the overall expense of the wedding. Many families mutually share the expenses also as per previous arrangement.

Unlike western countries in India the weddings are mostly the parent’s responsibility. They start thinking of their kid’s marriage and start saving and planning for it much in advance. The bride’s family keeping in mind the amount needed for their daughters marriage start saving from the time she is young. Dowry system is another chief cause for this anticipatory saving on the part of the parents of a bride.

The parents in India send their daughter in marriage with gold, silver and precious ornaments. They feel that all these gifts from the parental home will give their daughter the due respect and status in a groom’s house. Managing these expenses smartly can reduce the last minute stress and anxiety.

Generally making a rough calculation of how much the marriage expense will be is the first step towards a financial planning for the wedding. Try to write down, how much in gold, silver and cash will you need for a normal wedding. Then calculate the money needed to buy them. This of course doesn’t include other expenses needed for buying bridal clothes and accessories.

Now try to think of all the resources you have in hand and then work out the shortage. Think about the possible loans or over drafts you can comfortably get. Make arrangements before hand and don’t wait till the day is fixed. Try to get an advance and keep it ready for the last minute expenses. Start buying gold and silver whenever you have excess money in hand. Invest on it when the prices are low.

Analyze and keep ready other sources which you can tap just in case of any emergency needs. It is wise to start saving at a much earlier stage. You can get into gold chits and start making a fixed deposit which will be available during the wedding time. Managing wisely the resources in hand and acting smartly is how one can manage the finance during a wedding. Most of all always try to make it simple and plan efficiently.

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