Don’t Spend Just to Impress Relatives: Bengaluru CA Advice Couples on Lavish Weddings

Many people on social media discuss the cost, location, luxurious decor of large, opulent weddings. Many people also discuss the expensive price of such weddings, but this money might be better utilized for future savings or investments. Recently, a video circulated widely on social media in which CA advised couples against squandering cash on weddings simply to wow family members. Let’s try to figure out what he was attempting to advise.

A Bengaluru based chartered accountant has rekindled the argument by detailing how a wedding budget of Rs. 20 lakh may vanish in just two days and have a much longer lasting financial impact.

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A former KPMG and Deloitte employee, Meenal Goel, recently uploaded a social media post that breaks down the typical costs of a wedding that costs Rs. 20 lakh. She wrote the title, “Don’t spend Rs. 20 lakhs to impress relatives.” She underlined how expenditures on food, locations, decorations, photography, entertainment and other arrangements may quickly pile up through a thorough expense study, imploring individuals to consider more than just the wedding day.

According to her, food costs around Rs. 6 lakh, the location Rs. 5 lakh, decorations Rs. 3 lakh, photography and entertainment Rs. 2 lakh each and other costs Rs. 2 lakh. Instead, she suggested saving money for the future. She said that the money could go for a home, an emergency fund, investments or future education expenses.

She said that the majority of these expenditures are temporary. The financial expenses persist even after the celebrations have ended, the location has been emptied, the food has been eaten, the decorations have been removed and the guests have left.