Help required for financial planning for my marriage expenses and apartment

POSTED BY Chakraborty ON December 14, 2013 3:24 pm COMMENTS (3)

Hello all,

I have been following this blog for a year now. It has helped taking some wise decisions in my financial life.

These are the steps I have taken till now:- 1) I got rid of my LIC endowment policies, 2) took adequate Health insurance, 3) built an emergency fund, 4) opened PPF a/c

Now, I have 2 Goals, 1)bear half of my Marriage Expenses (in 1 or 2 years), 2) A small apartment of my own (after 7-8 years). My monthly earning is about Rs. 20,000/-. I am left with Rs 6000/- after all expenditures & savings. I don’t have any dependents now.

My questions are 1) How do I plan for those 2 above mentioned Goals? 2) Sudden expenses like electrical equipment purchase or repair or home repair can be considered as Emergency? If not How to plan for those too?

Thanks,

Chakraborty

3 replies on this article “Help required for financial planning for my marriage expenses and apartment”

  1. ashalanshu says:
    December 15, 2013 at 1:22 pm

    Dear Chakraborty, 2.5L Rs. in next 2Y means, roughly 8-9000 Rs. mly investment. When your total available surplus is 6K Rs. only, invest all into a plain RD. Fo not think of house purchase till marriage. Once marriage is over or corpus is created, divert amount towards house.

    Thanks

    Ashal

    Reply
  2. Chakraborty says:
    December 15, 2013 at 11:54 am

    Dear Ashalanshu,

    It costs nearly Rs. 5Lacs for a simple marriage ceremony. I want to bear the half of the cost. That is Rs.2.5Lacs. Is it possible? BTW I am a female.

    Thanks

    Reply
  3. ashalanshu says:
    December 15, 2013 at 10:51 am

    Dear Chakraborty, what is the amount for marriage goal, you are targetting for?

    Thanks

    Ashal

    Reply

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