Start Planning for wedding expenses
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Wedding planning is a major life event that requires significant financial planning. Mutual funds can be an excellent investment tool to help finance a wedding.
Point 1: How To Plan Your Wedding With Mutual Fund Investment?
Before you start investing, you need to determine how much money you need to finance your wedding. This will help you set a realistic budget and ensure you invest the right amount. Choose mutual funds with an investment horizon that aligns with your wedding timeline. If your wedding is in the next two to three years, you may consider investing in debt funds. If your wedding is more than three years away, you may consider investing in equity or hybrid funds.
Point 2: When to Start Saving?
Planning early for a wedding is always a good option than taking debts to have the wedding of your dream. You don’t need to be aware of the exact wedding date you can always start saving from an early age. By an early age we mean you should have enough time to accumulate money for your wedding. You can save either in smaller amounts or in one or two lump-sum amounts. The aim is to accumulate an amount that will suffice your wedding expenses. The other reason for early savings is that when you have a lot of time you can also invest in financial products like equity instruments. Investing in equity instruments guarantees better returns in the longer run. Also, if you plan your budget now you can inflate the wedding cost and arrive at a figure which you will require in the future.
VYASmoney allows you to make small investment at regular intervals to help you achieve your dreams.
Plan your goals, understand your investment personality, and get a curated list of funds that match your needs.