Marriage financial planning

Don't marry

What all will you be doing in 21 lacs can you tell me the breakup? Also, the bunglow is other than your current home, right?

25k * 24 months = 6 lacs, that could become approx 7.5 easily if you are investing in high risk Mutual funds. If you are doing stock investing then it can go upto 10 by taking good opportunities in the market.

You should construct after marriage, try saving hardcore for now. In my view, marriage is important task of life.

As you start seeing girls, explain very clearly that your focus would be constructing the rooms so that the household expenses can be covered from rental. And your 40k will add more into savings, how you want to live, etc. Make sure your family doesn’t dispute on this later.

Once you switch pre wedding, you can better estimate what to improve or cut as per forecasted expenses.

Oh Man, can't be more relatable, I sat down as well with my parents and the estimate came out to be 25 lakhs. 10 lakhs is coming for gold only, what to do!! I'm earning around 83k, and I save 40k per month, no EMIs, but have rent and expenses as I have to go office. I'm super stressed how this will all go, it's easy to say go for court marriage, but both sides even me and my partner have want a basic wedding but for a basic wedding also the budget is going so high. Gold is kind of non negotiable as it is seen as a hedge for future in case the couple runs into some trouble. I have recently bought 25gms as well, 75gms left along with wedding expenses.

Hey, I'm 22..just graduated and a freshman at Deloitte and my perspective on this is different right now..I really don't understand why people spend 25-30 lacks on 3-4 days of marriage function. If it is on gold then it's a good investment so it's agreeable, but why on other stuff. This one thing strikes me a lot i.e., that we/you everyone works so hard and saves lot of money let's say some x amount of lakhs and you spend that x lakhs on 3-4 days marriage function? Damnn it's years of savings and hardwork manhh.!! I don't consider spending this much on unnecessary things. I know and understand this is how marriages are going on and also how things are expensive now..but still the question WHY? I think the other best options are to invest/travel/buy a property...Don't be that person who gets stuck in paying emi's every time. It should be there only when it is necessary.

If you are going to purchase jewellery after 2 years, gold will be costly then today. Create an estimate of the amount of jewellery. Convert that into gold weight. try to purchase few grams of physical gold as every month just like SIP. And when you purchase jewellery use this gold for payment.

Hey, usually marriage+reception expenses are taken care by both the families. Isn't it?

My 2 paisas on this.

1. Look into gold buying schemes at major jewellers, you get to lock the price at the current rate and keep paying monthly instalments.
2. The expense on your house, ask a couple of contractors/interior designers. Get multiple quotes.
3. Start looking for a partner if you haven’t already. Shouldn’t be like you have all the necessary things but no partner to marry.
4. Do not spend a bomb on Photography.
5. Budget your honeymoon expenses into the wedding expense.
6. Try to stay away from debt for the wedding.
7. Have a good guy friend who’s around during the wedding to assist you. This can make and break your experience during your wedding. 8.Try to postpone the final payments for all expenses till the last moment. Especially photographers and catering. 9.Does your bungalow have a lawn/garden. Can that be your venue?

21 lacks of expenditure. 90k is a decently good salary and no doubts in that at all.

But bhai look at it in terms that you are spending your 2-2.25 years ka income completely on an event that is for 3-4 days may be.

Yes it's a special day and your parents want it to be grand mare than what you want. But still, this is too much.

If possible do it a small private ceremony of wedding and may be one big reception and save lacks. You can put that lacks in building the second home or going on a honeymoon or whatever you wish.

FYI : just a view I wanted to give of looking at this. Wedding are a big personal event of life, everyone would want it there own way and parents also want it to be grand. But it should not come at this much of a cost tbh. It would be painful to work for 2 years and spend it in 4 days.

I'll highly suggest to cut down the number of functions and guests if possible. Given your salary range, savings and future plans, 21 lakhs does not seem sensible to me. I'll suggest at most a 5-10 lakh budget.

Some hacks I had used:
Cut things that are unnecessary. E.g. Do some functions at home with the closest 5-10 folks and with home food.
Choose a location which is a bit hard to reach where people who are not close to you will drop off and the guest list will automatically become small.
Invite people who are not close only at the last moment so they don't have enough time to book tickets. 🙈 Skip any formal engagement or reception.
If you can, try to wrap up functions in a day. That way, you have to pay for stay and food only for a day.

If you can pull it off, go for court marriage or temple wedding followed by a nice dinner plus dance/music where you invite people.