How To Self-Fund Your Wedding
Funding Your Own Wedding
Funding Your Own Wedding
But many from the younger generation are keen on doing it themselves. But how? And how much?
The Costs
The cost of your wedding is entirely dependent on you and your partner, and what you want.
Weddings can be lofty, pricey affairs or conducted even on a shoe-string budget.
Set A Budget
Once you decide what kind of wedding you want, figure out how much it will cost you.
Break down approximate and exact prices for everything - from guests to clothing, catering and decor.
Set The Date
You know what kind of wedding you want, you know how much it’s going to cost you - now set a date that gives you enough time to come up with that money, and start working towards it.
Mutual Funds
Different mutual funds are suited for different durations. Equity funds are generally meant for above 5 years, while debt funds are more apt for 1-5 years.
Duration
Mutual funds range from long-term (over 5 years) to short term (1-3 years) and liquid funds, which are even shorter.
So choose a fund based on when you have set your date.
Time Horizon: 3 Years
If your wedding is 1-3 years away, stick to ultra-short-term funds as they are less risky.
Short term funds invest in debt securities with a span of 1-3 years, inviting marginally higher risk.
Time Horizon: 6 Months
If you plan on getting hitched sooner, then opt for ultra short-term funds or liquid funds which invest in debt securities for 3-6 months.
Learn More
For more recommendations on the best mutual funds to invest in, or how to achieve your financial goals, visit Scripbox. We’re happy to help!
Mutual Fund investments are subject to market risks, read all scheme related documents carefully.