Weddings have a very special place in Indian society. On the one hand, they are the most beautiful phase of life for the ones getting married and on the other, it is one of the grandest events in the lives of their families. In India, two entire families get married and not just two people. Hence, the scale of these weddings is grandiose and so are the related expenses. Without a doubt, the cost of organizing just one wedding is the single most expensive thing for a family in their entire lifetime. From buying jewelry and clothes to the expenses on small things like gifts and decoration can easily send you into a temporary financial crisis.
To avoid getting a financial shock and to smoothly organize the wedding, it is essential that you save for it very early. Putting money in FD (Fixed Deposit) is one of such ways to slowly build some capital to take care of these expenses. In this article, we will discuss about various ways through which you can save money for your dream wedding.
- Savings
Putting some money aside from an early stage for the purpose of a wedding is the smartest and the most common way. However, if you put money in the right place, then the interest earned on that money will save some extra money from the required expenses. For example, putting money in FD can generate very good interest rates wherein you can actually double the money being deposited in a time period of approximately 10 years.
Banks and Housing finance companies like PNB Housing Finance Company provide the highest fd interest rates to its customers. With higher interest rates, your money will grow at a good rate and you won’t have to worry about some extra expenses.
2. Right Time to Buy
Choosing the right time to buy can actually save a lot of money at a wedding. Even if you save a small amount of money on a single product by buying it in the off-seasons, the sheer scale at which the things have to be bought will make that saving huge.
The best example of this is gold. A lot of gold jewelry is bought at a wedding. If you buy gold when its price in the market has gone down, then it will save you a lot of money.
3. Venue and Décor
Choosing an in-house venue and combining it with a thematic décor will save you a lot of money rather than booking a banquet. You can also give a personal touch to a place that you own. Savings from these things might not be comparable to doing an fd, but still, they will save you a lot of money.
Hence, through making some smart financial decisions, a lot of money can be saved for your dream wedding. Saving money from an early stage and putting it in an fd is still the best option with financers like PNB Housing Company giving the highest fd interest rates.
