ET Wealth | Wedding budget: Know the hidden costs
Mikhil Gupta and Poulomy Dey planned their wedding over a year, creating an Excel sheet to track expenses and set spending caps. However, they ended up spending Rs.25 lakh, exceeding their budget of Rs.19 lakh by nearly 32%. The unexpected costs included flowers, which went up from Rs.40 to Rs.200 per stem due to Valentine's Day, and a lack of written contracts for finalizing prices.
Experts say budget overruns are common due to vendors' hidden costs, lack of research, family pressure, inflation, and miscellaneous expenses. Nikita Dubey, CEO of Shubhtithi Weddings, notes that décor, catering, guest hospitality, and last-minute entertainment often cause the biggest budget increases. Hardik Aswani and Ishita Talwar, who got married in Vadodara, experienced a 35% budget overrun, primarily due to catering, guest accommodation, gifting, and jewellery alterations.
To avoid overspending, couples should decide on priorities, break down the budget, and track expenses diligently.
Written by urgent.news from The Economic Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.