How much will you need for a marriage goal?
Use this calculator to find the future value of marriage cost and monthly SIP needed to achieve this goal.
You Need to Plan for
Monthly Investment Required
Indian weddings are a grand affair. The traditions, celebrations, parties, etc. are all quite expensive. The total cost of a wedding easily amounts to tens of lakhs of rupees. Moreover, since marriages are a one-time affair, everyone wants to have the best fairy tale wedding that money can buy. If you are also planning a grand wedding for yourself in the next 5-10 years, you can make your dream come true by creating a marriage fund.
A marriage fund, created early on, would help you meet the expenses of your marriage easily. All you would have to do would be to invest specified amounts every month towards a dedicated fund for your marriage and when the time comes your investments would give you the corpus needed to meet the financial requirements of one of the major milestones of your life. But how much fund do you think you would need?
Calculation of a marriage fund can be done by taking into account some common factors. You should consider the rate of inflation and the current expenses incurred in planning a marriage. Add to it the period after which you would need the fund and you would be able to get an estimate about the expected cost of marriage in future. If you have existing investments, deduct them and their expected returns over the said period from the cost of marriage that you have calculated. This would be the fund which you would need to create. Take into account the expected returns on your investment to figure out how much money would you need to invest every month to create the desired fund.
When considering the expected cost of a wedding, include all possible expenses on catering, trousseau shopping, jewellery, venue booking, etc. to figure out the exact cost.
The right time to invest
There is no right time to invest towards a wedding fund. The earlier you start the easier it would be for you to create the desired corpus. You should, in fact, start investing as soon as you get a job and become financially independent. Small amounts, kept aside for your marriage from early on would create a good corpus over a long period.
The right investment avenue
Mutual funds are the right investment avenue for planning a wedding fund. Choose equity funds which would give you good returns over a long-term investment period. Go for monthly SIPs so that you can invest regularly and in a disciplined manner. Though equity funds face market volatility, long term returns are usually good and these funds help you create a good corpus.
Orowealth’s Marriage Calculator is a good tool for calculating the expected marriage fund if you find the calculations cumbersome. The calculator requires you to put in the relevant details and the fund that you would need is calculated in an instant. The calculator also calculates the monthly investments which would be needed to attain the calculated corpus. Moreover, if you feel confused about choosing suitable investment options, Orowealth’s team of experts help you with that too. So, Orowealth’s calculator not only calculates the funds required for your wedding, it also helps you create the said fund.
So, plan for your marriage in advance and make your marriage a memorable affair without worrying about the expenses.