Wedding Savings Calculator
Plan your journey to a debt-free dream wedding by calculating your monthly savings needs.
Interactive Savings Planner Coming Soon
We are building a tool that accounts for inflation, interest rates, and your current savings. Until then, use the guide below to structure your matrimonial finances.
Financial Planning for Your Wedding
An Indian wedding is often the single most expensive event in a family\'s life, second only to buying a home. Strategic financial planning ensures that you begin your new life together on a solid foundation, not under a mountain of debt.
The "Rule of 3" for Wedding Savings
- 01.Initial Goal: Determine your total budget (e.g. ₹20 lakhs). Subtract what parents are contributing. This is your personal target.
- 02.Monthly Target: Divide your personal target by the number of months until the wedding. (e.g. ₹10 lakhs / 10 months = ₹1 lakh / month).
- 03.Buffer: Always save an extra 10% on top of your monthly target for "hidden" wedding costs like tips, travel, and last-minute accessories.
Frequently Asked Questions
How much should I save for my wedding?
A good rule of thumb is to save 10-20% of your monthly income for your wedding fund once you are engaged. However, your total goal depends on your planned wedding budget (e.g., ₹15 lakhs) and your timeline (e.g., 18 months).
Should I take a loan for my wedding?
Financial experts generally advise against taking high-interest personal loans for weddings. It is better to scale down the celebration or extend the engagement period to save more. If you must take a loan, ensure the EMIs are manageable (less than 15-20% of your income).
Where should I keep my wedding savings?
Since you will need the money in a short time (usually 6-24 months), look for low-risk options like High-Yield Savings Accounts, Liquid Mutual Funds, or Short-term Fixed Deposits (FDs). Avoid volatile equity markets for money you need within 2 years.