Marriage Corpus Calculator

Marriage Corpus Calculator – Plan for Your Wedding Expenses

Marriage is a personal milestone in our lives and a widely celebrated one at that, in India.

Naturally, people start prepping early to accommodate all the fun and flair involved.

Now, all this makes weddings expensive, requiring meticulous planning and budgeting. From venue costs to intricate details, expenses can add up quickly.

But should the expenses stop you from celebrating this once-in-a-lifetime event to the fullest? Of course not. All you need is a tool that helps you plan and build a marriage corpus to cover your wedding expenses conveniently so you can focus on enjoying the day stress-free.

A marriage corpus calculator does just that. It simplifies the repayment calculation process, helping you understand how much you need to save according to your timeline and goals.

How Can a Marriage Corpus Calculator Help You?

A Wedding Corpus Calculator is an essential tool for planning your marriage expenses, and here is how Jiraaf's Marriage Corpus Calculator can assist you:

• Calculate Your Monthly SIP: The calculator shows how much you must invest monthly to reach your wedding savings goal, given expected returns and investment duration.
• Plan for Your Wedding: Whether it is a simple or grand wedding, the calculator helps you estimate how much to save monthly based on your goals.
• Adjust Investment Details: You can adjust your goal amount, expected returns, and investment period to see how they affect your monthly SIPs.
• Chalk Out a Savings Plan: With an accurate SIP calculation, you can start saving now and ensure you are financially prepared for your wedding.

How Does the Marriage Corpus Calculator Work?

Jiraaf's Marriage Corpus Calculator helps you instantly calculate the exact SIP amount needed to reach your marriage or wedding fund goal, by asking you to input a few basic details.

Monthly SIP Formula

The formula used to calculate the monthly investment via SIP is:

SIP = (GA × (ER/12)) / ((1 + ER/12) ^TN×12 - 1)

Where,

• SIP = Monthly Systematic Investment Plan amount
• GA = Goal Amount (the total funds needed for the wedding)
• ER = Expected Annual Return (annual returns expected on your investment)
• TN = Tenure in years (the number of years until the marriage)

Now let us assume the following:

• Goal Amount (GA) = ₹15,00,000
• Expected Returns (ER) = 8% annually
• Tenure (TN) = 5 years

Now, applying the formula:

SIP = (15,00,000 × (0.08/12)) / ((1 + 0.08/12) ^5×12 - 1)

Based on the above calculation, the monthly SIP required is ₹20,414.

This means you would need to invest ₹20,414 every month for 5 years, assuming an 8% annual return on investment, to accumulate ₹15,00,000 for your marriage.

Advantages of Using Jiraaf's Marriage Corpus Calculator

The top advantages of using Jiraaf's Marriage Corpus Calculator are:

• Accurate SIP Calculation: Jiraaf's Marriage Corpus Calculator gives you the exact monthly SIP amount to help plan your finances and reach your wedding goal.
• Tailored to Your Goals: The user-friendly interface makes it easy to see how much you need to save each month and how different factors affect your plan.
• Simple & Transparent: The calculator gives you clear insights into the potential returns of your investments and the expected growth, which helps you adjust your SIP amount, tenure, or return expectations to get your desired returns.
• Financial Confidence: You gain clarity and confidence to save, by calculating the required SIP, ensuring a stress-free and joyous wedding day.

FAQs About Marriage Corpus Calculator

1. How much should I invest monthly to reach my marriage corpus?

The Marriage Corpus Calculator will give you the exact monthly SIP required based on your wedding target, the goal amount, expected returns, and investment tenure, helping you plan your savings effectively.

2. How do I estimate the return on my investments?

The return rate is dependent on your investment choices. For instance, equities may give higher returns (around 8%-12% per annum) but carry higher risk, while safer options like fixed deposits offer lower returns between 6% and 7%. The Marriage Corpus Calculator lets you explore various scenarios by adjusting expected returns.

3. What happens if I invest more than the required SIP?

If you invest more than the required SIP, you can reach your wedding corpus goal faster or accumulate a higher corpus. Conversely, investing less may mean you will not meet your wedding corpus goal in the given timeframe.

4. When should I start saving for my marriage?

The earlier you start, the better. Starting early allows your investments to grow with time and reduces the amount you need to save each month. The Marriage Corpus Calculator helps you plan based on your current timeline.