Gold received during weddings is not taxed as it comes under streedhan, a concept under Hindu law that draws a Lakshman rekha around the gifts received by a woman during marriage. These gifts are protected from taxes even in cases of separation. But this gold should be in a reasonable quantity.
A quick flight and a romantic resort can add glitter to your wedding but destination weddings can cost a bomb. There are ways to cut costs though, if you plan it carefully.
While taking out a wedding loan or participating in a ‘Marry now, pay later’ scheme, borrowers must understand key terms such as interest rate, loan amount, and repayment schedule. You should borrow only to pay for the basic expenses and not to fund the showbiz part of the Big Fat Indian Wedding.
Apart from tuition fees and accommodation costs, they must also account for daily living expenses such as the cost of meals and travel, health insurance premiums, the cost of textbooks and other study materials, travel expenses to and from India, and miscellaneous costs for leisure.
Rising gold prices allow existing gold loan borrowers to seek a top-up. Alternatively, some NBFCs reduce the interest rate applicable on the loan, thereby reducing the monthly or quarterly instalment.
With inflation bumping up the prices of everything we use, people are finding it tough to save money. But you can employ simple tips, such as cooking at home, sharing cab rides, and cancelling subscription services that you don’t use, to accumulate some savings.
Most couples end up discussing all personal matters but money. But given that disagreements over managing finances can turn out to be a big stumbling block, it’s best to have these discussions sooner rather than later. In a conversation with Moneycontrol, Pratibha Girish, a Certified Financial Planner and Founder, Finwise Personal Finance Solutions explains why it’s important for couples to be clear on how they plan to manage money together. Listen in
Many advisors use a combination of compensation methods. They might earn commissions on some products while charging fees for others. This hybrid approach aims to strike a balance between traditional sales-based models and fee-based models, offering a range of services to clients.
From splitting expenses equally, to one partner taking charge of expenses while the other takes care of investments, there are many ways for couples to manage their finances jointly. A harmonious approach, coupled with an understanding reached soon after a couple weds, can result in a frictionless life together.
The expertise of wedding planners in organising this once-in-a-lifetime event can be highly beneficial. They offer a spectrum of services, ranging from full-service planning to partial assistance. The cost is based on the date of the wedding, location, number of guests, and list of services to be managed and coordinated.
From providing nomination or opt-out for investments in MFs and demat accounts to changes to HDFC Bank’s Regalia credit card lounge access within India, you need to be aware of several changes in the financial arena.