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We are quite accustomed to seeing nervous parents running door to door desperate to arrange finances for their children’s wedding.  However financially stable you may be, you will need a lot of money and gold especially in the case of Indian weddings which are usually colourful and fun as well as a pompous affair.

Systematic investment can save a lot of chaos and confusion and helps you make your children’s most important day a memorable one.

Here let us brief on the ways in which you can plan your child’s marriage.

The must haves in an Indian marriage are gold and money.

Imagine X’s daughter getting married in another 20 years. X will have to arrange gold as well as money for the wedding. However, with systematic investment, he can relieve himself of the pain of arranging money and gold in the nth moment.

One way of arranging money is by

  • Buying physical gold: X can either purchase physical gold as it is or gold coins at regular intervals and later convert them into use as or when the time arises.
  • Investing in gold ETF (Exchange Traded Funds) SIP: Join a gold ETF SIP in which money will be deducted directly from the bank account. The investment amount can be chosen as per the individual capacity. For example, if 4000 is the current value of 1 gram of gold, investing this amount monthly will allow X to accumulate 12 grams in 1 year and 240 grams in 20 years.

X can accumulate money for the wedding by

  • Taking an account of the amount of money required to host a wedding in the current scenario and calculate how much it will be after 20 years.
  • Considering the calculated amount, join a systematic investment plan. Imagine investing 2000 every month in an equity fund. It will grow up to 20 lakhs in 20 years.
  • Invest in 5 stocks with good growth potential and stay committed to investing in them. X can easily raise 20 or 40 lakhs in this case.

Proper financial planning well ahead of time helps you to overcome the financial hurdles that you may come across when planning a wedding. So, seek the help of a financial advisor  and join a suitable mutual fund  to make your children’s D-day a memorable one.

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