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Have disposable income for a big fat Indian wedding? Here are 7 smart things you can do with this income instead!
“Big fat Indian weddings” have always been a part of Indian culture. But recently, Indians have taken a step back to analyze this trend. Why spend so much money on an event?
Why invite every person the family is acquainted with, just for the wedding? Why compromise on so many essential aspects of a marriage for a wedding..?
Not wanting a wedding does not equate to not wanting marriage.
We have come to understand that marriage is the union of two people, and a wedding is merely an event that celebrates the union. This has made many young Indians realize that maybe marriages are more important than weddings, and compromising on a wedding for a comfortable marriage would be a more sensible choice.
Although we know the pros and cons of having a big fat wedding, societal pressure clouds our decision-making. If you have the money to splurge on a wedding ceremony that lasts for three days, why not spend it wisely?
Here are some things you can spend on if you do not want to spend on a lavish wedding :
1. Invest in The Future
Investing in the future may seem ambiguous or even unnecessary at the start of a marriage. But we often forget that marriage involves many expenses in the future — expenses like buying your dream home or setting up a fund for your children.
You can invest in many ways depending on the future you and your partner want. Investing in stocks or mutual funds would be ideal if you want to save for your long-term plans.
For short-term goals like trips with your partner or setting up your new home, you can invest in aggressive funds that give you good returns in a shorter period.
While having a Bollywood-style wedding on a large scale might seem like the dream, take a moment to think of using that budget on something that will help you in the future. You can have a memorable wedding and save money to invest in your future expenditures. All it requires is a little bit of planning.
Before taking a step and investing, make sure you’ve done your research. If you need help, do not hesitate to approach an expert who can guide you according to your needs.
2. Realize Long-Term Dreams
Have you ever held back from paying a down payment on a house you imagine living in? If you have the funds for a big fat Indian wedding, why not compromise on a few things and make this dream a reality?
Our dreams change from time to time, but there are some dreams or goals that never leave us. Most often, what stops us from realizing these dreams is either the funds involved or not having the right support to go about it.
In this case, you can have both the funds and a supportive partner to help you with it.
Just having the funds isn’t enough to make your dreams a reality. Investing in it the right way is very important. It can be overwhelming to arrive at a practical decision with disposable income.
To make this situation easier, communicate with your partner and discuss the kind of life you’ll want to have in the future. Prioritize and spend wisely.
3. Invest in The Right Insurance Plan
Marriage comes with many responsibilities. You will have to start considering securing your and your partner’s future. Planning to invest in the right life and health insurance is one way to prepare for the future.
A good insurance plan can help you save so much more in the long term and keep yourself secured in the case of any emergency!
Life’s super unpredictable, and insurance can go a long way in ensuring you and your loved ones don’t feel the pressure in a scenario such as an accident, death, or physical handicap.
4. Pampering Yourselves
The money you can save from a wedding can be used by you too! You don’t have to only save it or use it on your other long-term investments. Take the money and pamper yourself!
Get that car you’ve always wanted, or renovate your space the way you wanted. Using that money for yourself is justified, and you shouldn’t have to explain it to anyone.
Nothing else should matter if you’re happy with the money you’ve spent. There’s always the option of having a modest wedding; if you want that money for yourself, go ahead and do it!
Traveling is another excellent option to opt for when you’re looking to save money from your wedding. Use the money to explore newer places and enjoy experiences that you’ve never had the opportunity to have before.
6. Multiple Honeymoons
In India, are weddings really about the couples, or are they just for relatives and friends? Imagine the money that can be saved and spent on activities that help the couple ease into their marriage.
If you have the funds, why stop at one honeymoon?
Planning a honeymoon is always fun. But it is also sad when it ends because reality hits you. This will not be the case if you do more than one honeymoon.
If you cut back on the expenses involved in planning a grand wedding ceremony and instead plan on trips to spend with your loved one, you’ll be investing in the future of your marriage.
Honeymoons are special because you get to pamper yourself with your partner. There is so much a couple learns about each other on a honeymoon.
You can never have enough of it. So why not spend the money on something that brings you and your partner closer?
Even though getting married is a big deal that should be celebrated, the marriage is what will last, not the wedding day.
It’s more important to start your new life together on a solid financial footing than to have a certain number of guests or a specific type of flowers at your wedding. Planning can help you save more money and help you escape the traps of debt for your “happily-ever-after” event.
Use the money on other experiences that can help you or make you happy. In the long run, that’s all that matters!