Personal Loans: How to Plan Your Unexpected Wedding Cost

Unexpected Wedding Cost

Plan Your Dream Wedding

Wedding being the most special day of one’s life needs to be planned in advance. To make everything look perfect on the final day, you need to devote plenty of time, money, and effort.  However, the fact is in spite of trying your best to enlist all the expenses you might miss out something important leading to certain unwanted expenses. While making a wedding budget the maximum attention is paid towards big expenses such as impressive venue, sumptuous food, stunning lights and decoration, grand reception, wedding photographer, pricey gifts, and expensive dresses and jewellery. In the process, people often tend to miss other miscellaneous expenses and hidden charges. Such sudden wedding costs usually arise at the last moment disturbing your pre-planned budget and leaving you perplexed.

In order to back up such an emergency during a marriage, the best option is to opt for a personal loan. Since these loans feature instant approval and fast disbursal facilities, these are perfect to meet urgent financial needs. The process of application is easy and if you have a pre-approved loan, you will receive the amount within just a few hours, thus, fulfilling all your expenses without any delay.

Most common unexpected last-moment wedding costs

Arranging transport for guests, paying service tax and GST, penalties for overtime of caterers, or using the wedding venue beyond the fixed time are some of the common reasons that can lead to an urgent need of money during a marriage. Besides these, here are the other unplanned wedding costs which people often forget to budget for:

  • Cost of the invitation cards
  • Additional invitation postage fees
  • Paying tip to multiple vendors
  • Overtime costs for the venue
  • Additional power usage cost
  • Extra labour charges
  • Uninvited guest transportation
  • Miscellaneous photographer fees
  • Meals for vendors
  • Cost of beauty and makeup trial
  • Funding bachelorette party
  • Extra hotel booking services
  • Accessories and undergarments
  • Meals for unexpected guests
  • Wedding favours or gifts for guests
  • Presents for family members

Read Also: Avoid Paying Through a Personal Loan

Tips to plan the unexpected costs with a personal loan

To make the best use of the personal loan for your wedding, you need to plan the wedding expenses that have suddenly come up. Here are a few tips to help you plan your unexpected wedding cost in an effective way:

  • Apply for an amount that you really need

Even though a wedding is not about how much you spend, a lot of your wishes and dream depend on your budget as well. Hence, before you plan anything else just fix up a budget that can be a little flexible to accommodate last-minute expenses . However, try to plan and stick to the budget according to your comfortable spending limit. In case you find that the budget is not enough  to meet the wedding costs at the end, the extra amount can easily be financed  with a personal loan. This way, you don’t have to apply for a big amount as credit from the bank. The lesser amount you avail the easier it will be for you to pay the EMIs on time while also managing the post-marriage expenses.

  • Bring down the additional expenses

Preparing the guest list can be quite tricky if you want to have a budget wedding. However, it is important and almost mandatory to invite your near and dear ones to the most important event of your life. So, while you are preparing your guest list make sure to include only your immediate family members and relatives who are there for you during the good times and the bad . While including your friends from school, college, and neighborhood keep the numbers within the limit. In case some unexpected expenses arise during the final preparation don’t hesitate to exclude a few names from the list so that the personal loan amount can be used for  something that is more important. Ticking off a few names from the guest list or the reception menu will bring down the unexpected cost.

  • Create a budget for the extra costs

Although a personal loan for marriage is the most suitable option to come out of such difficulties, you need to keep a check on the spending of the loan amount so that you can meet all the unplanned costs within the loan amount that you have applied for. It will be wise to plan a new budget for the extra costs that have suddenly come up and spend according to the budget without any further cash crunch. If possible, you must keep some extra amount in hand from the loan to ensure smooth running of  the wedding ceremony. After all, you would need to plan your honeymoon and house expenses  post marriage. So, try to make the best use of the loan amount and avoid overspending.

  • Prioritize expenses to be met first

Before you start spending the loan amount, at first, list out all the things that you want to be funded by the loan. By listing the things that are on priority, you can remove a  few things from the wedding wish-list and keep the spending within your newly made budget. In case you don’t get the expected amount from the lender this list will help you in making  smart use of the amount in hand. You can focus on the important things without any fuss.

Even though wedding planning is a bit hectic and comes with a lot of expenses, you should plan it the best way possible as it happens once in a lifetime. Don’t worry about the urgent expenses that might come up at the last moment as personal loans are there as your saviour. You can easily fund the unexpected marriage expenses with a personal loan. Just apply for it online with minimal documentation and get the amount disbursed to your account within a couple of days.

Read Also: How to Get Emergency Student Loans?

However, while placing the loan application with the bank of your choice make sure to check out your eligibility criteria, choose the required amount based on repayment ability, and keep all the required documents handy.

Find out top banks that offer marriage loans in India.

About Shruthi Katta 1 Article
Shruthi Katta is an independent financial blogger who loves to write on personal finance tips and guide. To follow her posts you can reach her on Twitter.

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