Wedding wisdom: Avoid loans, don't splurge to secure other financial goals

Fix target amount early, invest regularly to fund child's dream wedding

A recent research report by Jefferies pegs the market size of India’s wedding industry at around Rs 10 trillion (around $130 billion). If  “wedding”    were a retail consumption category, it would rank second after food and grocery. An estimated 8 to 10 million weddings take place in India each year. 

The average Indian wedding, according to the Jefferies report, costs more than three times the average yearly household income. Given the significance of this event, financial planners emphasise the need to prepare for it meticulously. 

Start early, set target

Planning for a wedding should begin early. While the child is still young,