Indian Weddings are famous globally for their large-scale decoration, delicious cuisines, precious jewellery & expensive clothes worn by not only the bride but by every family member, and of course the gifts and return gifs! You shouldn’t be surprised if some unexpected wedding expenses are staring at you after such an extravagant event.
Let’s decode the ways to avoid and manage these unanticipated expenses.
Must Read: Now You Can Borrow a Personal Loan on WhatsApp with Cashe!
Can You Take a Personal Loan for Wedding Expenses?
Personal loans are unsecured loans you can take online within a few minutes. They can be taken for wedding expenses. These loans don’t involve tiring paperwork and a long time to get approved. Thus they are ideal for managing the last-minute unexpected marriage expenses.
Some common scenarios in Indian weddings are higher than expected turnout of guests, last-moment vendor issues, and increased clothing and salon services requirements. An instant small loan taken online can be your saviour in such times.
List of Wedding Expenses That You Didn’t Expect
Here is a list of the most common unexpected wedding expenses in an Indian wedding, leading to your budget going for a toss.
• Invitations Cards
You get invitation cards made in all sorts of designs. If you haven’t considered an expensive design while making your wedding budget, its charges can catch you by surprise. The numbers of invitations are big therefore the expense are also high. Moreover, the postal charges to send the invitation also add to the cost.
• Paid Tips
Small tips here and there for valet, make-up artist and catering staff don’t seem much individually. But due to the grand scale of an Indian wedding, if you add these tips together, they can be the reason behind the imbalance in your budget.
• Unexpected Turnout of Guests
Unexpected guests in an Indian wedding lead to many unexpected expenses. The accommodation facility and food are some of the aspects where you should plan for extra people turning in. Otherwise, the whole budget and arrangements can go haywire.
• Transport
In India, hospitality is still a big deal, especially if you have wedding guests. As a host, you arrange a transport facility to take wedding guests from accommodation to the venue. But this marriage expense is hardly well-planned and calculated. Always consider the transport expense while making your budget.
• Service Tax and GST
Service tax and GST often come as a shocker as it’s natural to oversee them while making a budget. Your hotel and food bills are high, so the GST on them is also high, which you might not calculate while planning and deciding.
• Hotel Reservations
The guests from another city or country need to be accommodated in a hotel. Sometimes, the people you think will live in your or a relative’s house may also need a hotel as you run out of place. Keep these last-minute changes in mind. Some guests who cancelled their attendance initially may also turn up last minute.
• Overtime Penalties
Indian rituals are also a marvel for the world to see. So the overtime charges for the caterers or the overtime penalty to the venue may not be anticipated by you but is very much a possibility.
Are You Eligible to Apply for a Wedding Loan?
Generally, anyone with a decent regular income is eligible to apply for a wedding loan. However, it’s advisable to check with the specific conditions of your chosen lender. Some lenders only consider applications of Indian citizens of a certain age. You also need to check the minimum income requirement of your lender.
Your credit score is of utmost importance when applying for a wedding loan. A wedding loan is a personal loan taken for wedding expenses, so you get favourable interest rates and EMI tenure with a good credit score only.
Conclusion
It’s an art to manage wedding expenses in India. By keeping the above list of marriage expenses in mind, you can be mentally ready for the number you hadn’t anticipated initially. It’s great if you keep the required margin for unexpected expenses in your wedding budget. If not, you always have the option to apply for a personal loan online and pay these bills.
Must Read: Top 27 Best Instant RBI Approved Personal Loan Apps in India 2022
Author bio:
“Tanvi Kaushik specializes in Content Marketing and works with the Digital Team at KreditBee – India’s fastest personal loan platform where self-employed and salaried professionals can easily avail of personal loans in just a few minutes when in need of quick funds. Tanvi writes to-the-point articles on personal finance and budgeting which are truly appreciated by her readers. She is committed to making money matters easy to understand even for the layman. Her commitment to her work doesn’t stop her from pursuing her hobbies of hiking, trekking and going on adventurous trips.”
