Indian weddings are a celebration of two families coming together. They are emotional, grand and usually tend to go over budget. Families have budgets set aside for jewellery, venues, catering, décor, etc. Smaller expenses add up quickly, sometimes taking the wedding way over budget.
Having an idea of what these expenses could be and preparing for them in advance can ease last-minute financial stress. You can also explore instant wedding loan options like FIRSTmoney personal loan by IDFC FIRST Bank to fund your financial requirements.
Why Wedding Budgets Usually Exceed Estimates
Most wedding budgets are based on big-ticket items like venue, food, and bridal attire. Most families tend to underestimate the cost of last-minute changes, unforeseen circumstances, and small expenses such as extra help, additional accommodation, upgrades, a change in travel plans, etc. Let us see a list of 10 hidden costs that you may have missed accounting for:
Pre-wedding functions: While pre-wedding festivities are estimated in budgets, additional costs like last-minute décor upgrades, additional guests, after parties, unexpected gifting for in-laws, and other invitees are not.
Outfit alterations and styling: A wedding party often runs into costume-related issues, while the outfits may have been bought and tailored, issues such as last-minute alterations, laundry bills, hair and make-up requirements can add up pretty quickly.
Guest accommodation and logistics: Unaccounted hotel bookings for additional guests, airport transfers, local transport, and welcome kits can significantly increase expenses, especially for destination weddings.
Décor upgrades and add-ons: Initial décor packages often exclude lighting upgrades, additional flowers and customised installations
Photography and videography extras: Sometimes couples ask for behind-the-scenes shots, extended coverage, social media reels, drone shots, photoshoots for other guests, and post-production can be charged extra.
Wedding favours and return gifts: Customised gifting with the wedding hashtag, packaging personalisation, and additional orders can, in the last-minute, increase the final cost far beyond initial budgeting.
Legal and documentation costs: Marriage registration fees, affidavits, notary charges, and related documentation are often not calculated within the wedding expenses.
Vendor overtime and last-minute changes: Overtime for makeup artists, photographers, or venues usually comes at premium pricing.
Post-wedding expenses: Dinners, send-off gatherings, and delays in travel arrangements are also known to rack up unexpected expenses.
Emergency buffers: Unexpected expenses always arise, whether due to weather changes, additional guests, or vendor issues.
How Financing Can Ease Wedding-Related Stress
Weddings are supposed to bring joy and festivities, but they also come with huge expenses. Managing these expenses can be difficult, leading some families to liquidate their assets or dip into their long-term savings, which could lead to capital erosion and long-term financial burdens. With some financial planning, this can be avoided.
Taking a marriage loan allows families to manage expenses without disrupting their financial security. It helps in paying for the wedding over a period of time rather than enduring an upfront cost and loss of capital.
With a FIRSTmoney personal loan for wedding by IDFC FIRST Bank, you can withdraw funds as and when you need from your approved loan offer. Interest is charged only on the amount you withdraw.
Why EMI Planning Matters for Wedding Loans
EMI planning is critical for all repayments. Weddings are already a massive expense, and adding huge EMIs post such heavy spending can create financial burdens. To avoid that, borrowers must use an EMI calculator to know the exact cost of monthly instalments, total cost of interest, and a comfortable loan tenure.
Lenders like IDFC First Bank offer marriage loans up to ₹15 lakhs at 9.99% per annum through their FIRSTmoney personal loan offering. Repayment is flexible with tenure options from 9 months to 60 months. You can also choose a comfortable EMI date from 3rd to 8th of a month.
Why Marriage Loans Make Sense
A well-planned wedding requires a proper funding strategy. Savings, gold, and family support continue to be the most common methods for wedding expenses in India, but when a small financial gap remains, a marriage loan can help tremendously.
IDFC FIRST Bank through its FIRSTmoney smart personal loan provides quick digital disbursal in 30 minute, transparent terms, and manageable EMIs, allowing families to make wedding payments stress-free.
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