Expenses incurred at Weddings

Posted by Trishya Sharma on February 26th, 2020

Weddings are considered to be the most important occasion in a person’s life as well as for their family members. However, every reason makes it righteous to make it one of the most memorable events of your life. There’s a fallacy that marriage costs all the savings of a person. Well, we can’t say that is completely wrong because it's true at some points but it depends on individual to individual.

Some people want to keep their wedding ceremonies simple yet memorable whereas, on the contrary, some people would want celebrations from 1 month prior to the wedding. It all depends upon the choices of people. However, there’s also a point that people who do not have much money and want to have a simple ceremony are pressurized by the society to conduct a huge event that costs them too much and they end up taking loans.

Therefore, doesn’t matter if a wedding is a large event or a smaller one, it causes an expenditure of a certain amount. People who like to plan everything may find it difficult to estimate the total expense of the wedding ceremony but one can make an approximate of a rough calculation of the amount that would be spent on several fields in the ceremony such as the decoration, food, photography and all.

Personal loan for marriage

Marriage loan

Have you ever estimated the total percentage of the cost that is spent on various wedding tasks? Here is a little division of percentage for you to get an approximate idea:

• Wedding Venues turn out to be one of the most expensive parts of a wedding because people look out for the best ones with amazing decorations for themselves. An average estimate of the wedding venue is 13-18% of the total expenses spent on a wedding. People usually take marriage loans for paying out for wedding venues.

• Catering services are considered to be the most expensive aspect of a wedding because you always have to order to keep extra food for your guests. You never know how much your guests would like to eat, so it’s better to always have extra rather than falling short of food at the last moment. Hence, catering services cover 20% - 25% of the total cost.

• Decoration requires 7 to 11% of your total cost because you can opt for different packages for it. You can even hire a wedding planner who is not very expensive. Hence, it can be done in a ratio as low as 7% too.

• Although not everyone chooses a photographer for their wedding, as the digital media is expanding many people want to hire the best photographer who charges way too much. Therefore, it covers about 5 to 7% of a person’s total cost.

• Wedding outfits and jewelry are a separate deal because some people want to go for designer dresses and jewelry that are way too expensive and people opt for personal loans for marriage to fulfill their needs and requirements for wedding purposes.

• A wedding remains incomplete without makeup and henna. There won’t be a single girl or bride who doesn’t put Makeup. About 3-8% of the total amount is spent on Makeup and Henna purposes. This ratio also includes the cost of return gifts and DJ.

• Some people take marriage loans for their Honeymoon. It costs an estimate of 8 to 12% of the total expenses. It is not necessary that a couple has to go for an international trip but they can also visit the northern areas to enjoy their private time.

However, people need to understand the fact that whatever they are doing should be done in a limit with their own hard-earned money. If you do not have that much money, then there’s no need to spend too much. Marriage loan is a type of a personal loan which is an option to help finance your wedding.