Child Marriage Plan Calculator
Calculate how much you need to invest, to plan your children's dream weddings.
How to Plan for Your Child's Wedding?
Planning your child’s wedding is a wonderful journey that involves financial preparation, logistics, and emotional support. Assess your financial situation first and set a realistic budget to avoid unnecessary stress. Early vendor bookings and creating a timeline can ensure smooth logistics. Above all, support your child emotionally to make the celebration special and memorable.
Why is Prior Investment Planning Essential for Your Child’s Marriage?
1. Avoid Debt & Financial Strain: Weddings can be expensive, and without prior planning, parents may have to take loans or dip into savings, leading to long-term financial stress.
2. Protect Retirement Savings: Funding the wedding should not compromise your own financial situation or future goals.
3. Set a Realistic Budget: Early planning helps in creating a budget that aligns with your financial capacity rather than societal expectations, preventing overspending.
4. Save Gradually & Reduce Stress: A dedicated wedding fund allows small, consistent savings over time, reducing last-minute financial pressure.
5. Manage Expectations & Hidden Costs: Open discussions with your child about finances eto nsure realistic expectations and a buffer for unexpected expenses like post-wedding costs.
Where Should You Invest to Plan Your Child’s Marriage?
1. ULIPs (Unit Linked Insurance Plans): It is a mix of insurance and investment plans, thus helps in growing your savings through market-linked instruments, making them great for long-term goals like marriage.
2. Public Provident Fund (PPF): Ideal for long-term financial planning, this government-sponsored, safe, tax-advantaged savings program guarantees consistent returns.
3. Mutual Funds (SIP): Investing in mutual funds through SIPs allows one to grow his wealth over time, which mostly gives a high return compared to the traditional methods of saving money.
4. Fixed Deposits (FDs): A risk-free investment where returns are certain, FDs are ideal for short- and medium-term savings, offering stability and ease of access when required.
What Are the Benefits of Using Equirus Wealth's Child Marriage Calculator?
A child’s marriage calculator allows parents to plan for their child’s perfect wedding financially. It provides insights into potential investment returns and estimated wedding costs, enabling better financial decision-making. Parents can assess several savings and investment choices to select which one best fits their financial goals. This tool ensures structured and informed planning, reducing last-minute financial stress.
