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How to Prepare Yourself Financially for a Wedding

Published on Nov 15, 2022Updated on Oct 18, 2023

How to Prepare Yourself Financially for a Wedding

Weddings are the happiest times of our lives! When we finally get to spend the rest of our lives with our dream partner, we celebrate the occasion in the best way possible. We select the best outfits, invite over most of our relatives, arrange for lavish feasts, and book amazing venues for this once-in-a-lifetime experience. Along with such exciting planning, it is best to keep all worries away, especially financial ones.

A wedding involves expenses like booking a caterer, purchasing ornaments, gifting loved ones, deciding on rituals, and legalising the matter. It is best to take up a personal loan to take care of such arrangements and not exhaust your savings. This article talks about a few curated financial tips for marriage that will assist you in laying out an effective wedding plan.

Tips for Preparing Financially for a Wedding

Once you take up a personal loan for your wedding, you must keep in mind the following few financial tips:

1. Understand Everything That Happens at a Wedding

Before jumping right into the planning phase, make sure you have a detailed discussion with your family members. This discussion should cover everything, i.e. the venue, the outfits, the caterers, and even the destination of the marriage. If needed, you can also start maintaining a document containing all costs per plan to ensure you don’t exceed the borrowed loan amount.

Analyse all wedding-related events too, like the engagement and reception, one at a time and lay out the costs that every event will incur. Prepare a thorough and detailed budget for everything at a macro level to get an idea about the hidden and extra charges that will be involved for the entire wedding.

2. Start Planning Beforehand

One of the biggest financial tips for marriage is to start planning your financial distribution early. You can start comparing different financial institutions to apply for a wedding loan. You can begin applying for the personal loan according to their eligibility criteria. Plus, you can start calculating the changes in your monthly budget as you will need to pay the EMIs on time.

Must Read: 10 Tips for Planning your Wedding under INR 5 Lakhs

3. Add Up All Miscellaneous Costs

Marriage expenses comprise many underlying costs. Before the actual ceremonies take place, there are tons of other costs that can’t be ignored. Renovation, house painting, renting a different living space for guests, buying a new car, etc., are a few of them.

These are miscellaneous expenses and must be carefully considered when planning the wedding expenses. This is where loans come into the picture. Personal loans that are offered by various financial institutions help in covering all your costs in a trouble-free manner.

4. Don’t Ignore the Overhead

It is always recommended to be prepared for wedding days. There might be several last-moment changes in plans or additions in arrangements that might require you to bear a few thousand rupees as expenses. In such cases, it is best to have a personal loan for marriage for financial support so that you don’t exhaust your personal savings.

It is best to be ready to tackle any situation that could block you financially. These wedding budget tips will be of immense help when you start laying the groundwork for your marriage.

How to Be Financially Sound Before & After Marriage?

Weddings are a once-in-a-lifetime event, and we devote everything to it for the end results to be perfect. A personal loan for a wedding is what works best to make all your dreams come true.

How can a personal loan help during a marriage? When you opt for a personal loan, you receive the funds in your account shortly after the final loan approval. This will be useful in better planning your wedding and will spare you the trouble of worrying about expenses.

Here are 3 reasons why a personal loan makes everything better:

1. Financial Empowerment

When you apply for a personal loan, you can avail up to INR 25 lakhs* as a lending amount. Furthermore, there are no restrictions on how you spend the funds. You can use the amount to pay for outfits, sort out the venues, plan out the hotel rooms, and pay food caterers.

2. Affordable Interest Rates

The personal loan interest rate is decided based on your credit score and history. If you have an excellent credit history, there is a high chance for the bank to give you a reasonable interest rate.

3. Asset Protection

That’s where the ease of application comes from when you opt for a personal loan. Usually, for weddings, we think of redeeming our fixed deposit or exhausting our savings. However, when you opt for a personal loan, all such investments are totally intact and uninterrupted.


A wedding is a memorable event, and with the right wedding budget tips, one can easily enjoy the luxurious event without risking their money.

With SMFG India Credit, opting for a personal loan is convenient and quick. Our personal loan interest rates start from only 11.99%* per annum. Our personal loan eligibility checker will make it easy for you to calculate your eligibility, too.

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*Terms and Conditions apply. Loans are disbursed at the discretion of SMFG India Credit.