Let me first explain who can get benefit from this article:
I can help you save money on your wedding if you are someone like me, a middle-class Indian guy/gal with the mindset of optimising expenses on any occasion without compromising the quality & style of the event.
When I got married five years ago, I tried to save money on my marriage but my family was more interested in show off, so all my efforts failed.
I wanted my marriage in the court to save all the money on wedding functions. I could have spent that money on my honeymoon and buying household stuff. That is best if you can, learn how to save money and applying below tricks.
#1. Don’t get married in the wedding season
But these Pandits and Grandmoms will not let you marry in the off-season. This advice will work for those who do not believe in pandit-ji-wali-date. You will get everything cheap from marriage venue to catering.
#2. Avoid weekends
Not so good advice for the job going people because we (friends) flock at marriages only on weekends otherwise make an excuse of our busy schedule. But people who don’t have friend circle of job-doing friends should plan their wedding on weekdays. You will save money on marriage venue and many other things.
#3. Shopping in off-season
If you can not avoid dates in peak wedding season, you can definitely go for wedding shopping in the off-season. You will get more attention from shopkeepers and get better discounts.
#4. Alternate Marriage Venue
Marriage Palaces are very costly and people waste a lot of money on unnecessary things (because you have to buy everything in venue packages). You can find decent community hall or farm-house for your wedding. All depends on the size of gathering and availability of alternate venue, but it’s a very good option of saving money without compromising lavish styling if you hire a good decorator.
#5. Wedding Planner
Now I am advising you to spend extra bucks on hiring a wedding planner who can eventually help you to save more money on your overall expenses. They have a better idea where to find cheap and quality stuff.
You just tell them your requirements and they will arrange things for you. A combination of Farm House and Wedding Planner will save you more money than a marriage palace while giving a better experience to your Baraat.
#6. Ditch Multiple Venues for Events
If you want to save money on decoration and venue rent, then celebrate all events at single place. Your guests will also enjoy the same place because they don’t have to move their things. You can spend more money on decoration because you have only single venue to decorate.
#7. Save on DJ
Do you really need DJ for marriage party? It depends on size of gathering and type of friends on dance floor. If you have small crowd, having your close friends & relatives then it’s better to rent speakers and be your own DJ.
You don’t have to worry, your friends will manage the songs. Just arrange the music devices and leave it to your friends. Let them dance on the songs of their own choice. Make one of them responsible for DJ property.
#8. Save on photography
Unless you are very emotional about the photos & video album, you can find good photographers from your friend circle. Or hire some photographer students who will do a better job at less price. If you fall into my category of people, you will not like to spend a lot of money on professional photographers.
#9. Save on Sweets
We Indians can not celebrate any occasion without sweets. You have two options to buy sweets – sweets from a branded Halwai in your town that will cost you more than 500 rupees per box – or prepare your own sweets as per your choice. Hire the sweet makers and get them raw material. They will charge you the labor cost and make quality sweets at half the price. It sounds like a hectic option but you will love the saved money.
You have to play smartly here. Your decision should come from considering below points
- How many sweet-boxes you need (for invitations & relatives)
- How much sweet you need at events (on plates, with tea & dinner)
- Variety of the sweets. 2-3 items in large quantity or 10-12 items in a small amount.
If you need large quantity, then its better to hire sweet makers otherwise buy sweets from branded shop.
#10. Cut down guest list
It may sound awkward, but you should be very choosy about your guests. If you do not believe in showing off in marriages, then you can invite few guests so that they all enjoy more in a small gathering of close friends. Your caterer will also take care of a small group. I would prefer to please my sweet friends more with great hospitality than just showing off my marriage to a broad audience with average hospitality.
#11. Money on the Wedding Dress
I have never seen a reuse of wedding dress of groom or bride. I suggest renting wedding dress to save significant money. You can also check in your friend circle if someone has the dress of your size, many people buy sherwani/lehnga for their marriage, but you don’t have to. You will even save money on the rent.
#12. Take benefit of credit card points
Credit cards give you advantages of points and cashback when you pay online or offline. Make maximum benefits of marriage shopping by swiping your cards wherever possible. Earn a lot of points and redeem against gifts or cashback. Check your elligibility and credit card features.
#13. Online Shopping
You can buy a lot of stuff online at a cheap price. Try to buy branded things online so that you are sure of quality & size. You can also find useful gift options online for relatives & in-law family. Save money from booming Indian e-commerce industry.
Tax Benefits after Marriage
#14. Open HUF Account
That’s a hidden benefit that most of the people ignore. As per Indian Tax & Marriage law – Hindu, Sikh, and Jain families can open Hindu Undivided Family account that’s treated as a separate entity for taxation purpose. You just have to apply for PAN card and open a bank account.
Any income other than your regular salary can be deposited into HUF account, and you will get same tax benefits as your individual account. For example if you have an income of 5L from salary and 3L from freelancing, consulting or rents, then you can deposit 3L in HUF. You will not pay tax on total 8L income but get tax benefits of two separate persons 5L & 3L.
#15. Cash Gifts from marriage are non-taxable income
Good news for Indian newly wedded couples is that you don’t have to pay any taxes on gifts received on your marriage (in any form like Cash, Cheque or Material).
You can open a joint account and deposit all the cash/cheques received on your marriage, you are not liable to pay any tax on this income.
Between You and Me
Let me know in the comments if this article was interesting & helpful or a shitty piece in the crowd of blogs. Be brutally honest.