SIP: These days, young couples want their weddings to be more than just a traditional event; they want it to be an unforgettable experience. That’s why destination weddings are becoming super popular. Getting married by the lakes in Udaipur or on the beaches in Goa is a dream for many couples. But making that dream come true can cost a pretty penny. Experts suggest that with some smart financial planning, this dream can definitely be within reach.
So, how much will it set you back?
The typical cost for a destination wedding in places like Udaipur or Goa can go up to 20 lakh rupees. This covers everything from the venue and decorations to guest accommodations and other arrangements. When people hear this figure, they often wonder how they can come up with such a large amount.
SIP can simplify things
If you’re planning to tie the knot in about 10 years, then a Systematic Investment Plan (SIP) is a great choice.
– Imagine starting a SIP of Rs 10,000 each month.
– With a 12% annual return, that could grow to around Rs 20 lakh in 10 years.
– So, a big dream can be achieved with just a little saving each month.
Tips for the youth
– Just saving money isn’t enough for a big occasion like a wedding.
– It’s crucial to get into the habit of investing to counteract inflation and ensure your funds are ready when you need them.
– SIP not only instills discipline but also offers long-term financial security.
The dream of a destination wedding isn’t just for the rich anymore. With the right financial planning and investment strategies like SIPs, any young couple can turn it into a reality. Weddings by the lakes in Udaipur or on the beaches in Goa are now not just a fantasy, but something that can be achieved with careful investment planning.