Getting married during lockdown? Here are some pointers!

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Hi all , I hope you are doing well and are safe from ongoing pandemic. I got married at my home town in first week of Mar 20 and few days later we as country got into staged lockdown. I came back to my base location for work at Pune last month after spending 100 days at home with my parents. During these 100 days of lockdown I went through a ton of changes in my life on parameters like personal life, social life , work life and newly married life.

Now that I am back to new normal of living with COVID and continue doing what we all were doing as per instructions/guidelines set by respective authority. Stopping is not option for us, Its like show must go on.. I would like to share my experience of getting married during pandemic and living new normal COVID lifestyle along with its impact on your personal finance.
Expenses you got cut short due to Pandemic/Lockdown 

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The great Indian wedding cost

It’s still a debate topic in India , The expense of Indian wedding. Everyone wish to have a dream Indian wedding but the recent lockdown rules put an end to it and private social distancing wedding with only closed friends and family is now becoming new norm. Whether you like it ir not. 
It’s my personal opinion if we as society adapt to this and continue using this new norm post covid pandemic , we will move one step ahead towards a progressive society. As we see in normal world people going under huge debt and financial problem while doing these grand wedding. I leave it here. (Optional)

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International Honeymoon

This trend of being on instant honeymoon after marrige is one of the top to do list of every newly Wed duo. Pandemic has put a break on this for a time being . Also it will take us min a couple of years to get back to this. Millennials used  spend huge chunk of savings for this in before corona world 

After lockdown most of us wrapped up the vacation plans and chose to spend time with loved ones where they are at home. Urban lifestyle 
Before corona world we were living quite free and happy social life which included a lot of routine activities like dining out, clubing, Theater movies experience , weekend trips (FOMO Trips) and shoping etc etc. 

Basically all the activities which giving us pleasure experience other than our routine life. Pandemic /Lockdown made us live life with only necessary activities and giving importance to essentials than above timely activities of seeking happiness. 

I do track my expenses as my routine. When I compared my monthly expenses before marrige and after marrige , I realised my saving rate was deceased by 75% . But thanks to lockdown , my above notes expenses were down to almost zero in last 3 months . So I was able to cope up with my after marriage monthly budget.

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Travel 

Travel is very important part in our life after marriage and As a typical middle class Indian , we have to visit a lot of temple and relatives for seeking blessings for new life. Due to lockdown it was not there for me. Thanks to what’s app and zoom video calls, we got all our blessings via internet.  

Coming to work aspect of it. We are doing WFH and it saves a huge amount of time and resource spent on daily office commute. Be it a normal world , It would have added a huge expense to your budget. 

Above of some of the major expensive things any newly married couple would do as per their capacity but the lockdown and pandemic has made stay away from it. 

Getting Married is very important part of our life. Living in this pandemic at the age of getting married is very rare possibility but we don’t have choice as some things need to be done at right time. I can see people accepting this and living new normal life. After my marrige all of my very close friends are getting married at home.

We couldn’t attend their wedding but I have something to share with them considering this financial aspect of pandemic. I am glad you decided to proceed with planned wedding and I welcome you reto this club of more happy and responsible life.

So how can you spend your money instead?

Below are the suggestions to spend your money saved in above listed scenario and make your new life more easier and get yourself ready with financial aspect of new life.

  1. Use your money saved in Wedding to do a part of down payment for your new home or fix it as your emergency fund as best case
  2. Use your money saved in Honeymoon vacation for buying new house essential items
  3. Use your money saved in lockdown lifestyle for buying out a much needed health cover for you two and family
  4. Use your money saved in travel aspect of the life during lockdown to buy or pay your new car after economy opens.
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Apart from all personal , psychological and routine behavior changes we have financial change running behind the scenes during this transition. My sincere advice is to plan it well and most importantly execute it very well.

This pandemic has tought us that no Job is secure , Your monthly income can stop anytime , Every business is tend to lose when situation comes. Being ready to deal with such real world problems is need of hour.

Financial planning in our life is of utmost importance in order to survive in this world no matter which income class you belong. 
Regards

Anup Lamb



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Prateek Goel
Co-founder of Investeek, Prateek has been investing in the stock markets since 2006 and has beaten the NSE/BSE on a consistent basis. At the age of 24, he was also featured in India Today for his expert insight on gold trading.
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