Getting Married in 2025: Fearful of Financial Burden

Ans: Hello;

Firstly you should keep amount worth 6 month of expense coverage as emergency fund in an arbitrage or liquid type mutual fund.(50 K x 6=300K).

Both of you should buy a term insurance with critical illness and accident benefit riders for life cover. Despite corporate health insurance, it is advisable to take a good family healthcare plan from long-term perspective that covers pre-existing, critical illnesses, maternity expenses as well.

If your spouse has a traditional endowment LIC plan then my suggestion would be to surrender it because it gives very poor returns.

The same amount(monthly premium) if you invest in mutual funds (even the less riskier ones)can give you much better returns, but ultimately it's you choice.

You may start a sip of 50 K in a value focussed, balanced advantage fund and a sip of 18 K in an equity savings fund.

The 50K sip will grow into a sum of around 30 L in 4 years which could serve as down payment for your house purchase/loan.

The 18 K sip will grow into a sum of 10 L after 4 years, earmarked for car purchase. (Modest return considered of 10% assumed)

Both should start NPS account for retirement planning and keep contributing in whatever small way possible but regularly, because eventually EPF corpus gets consumed for some other necessity.

Recommended funds for the types mentioned above:
1. Kotak equity arbitrage fund
2. SBI liquid fund
3. ICICI Pru balanced advantage fund
4. HDFC equity savings fund

Wish you both a married life full of multibagger returns of happiness and prosperity!

You may follow us on X at @mars_invest for updates.

*Investments in mutual funds are subject to market risks. Please read all scheme related documents carefully before investing.

Ans: Dear Anonymous,
There is no hard and fast rule that you have to be dating for a certain period of time before you marry someone. But, of course, if you feel it's too soon, you can communicate your concern to your partner. After all, it is important to be on the same page. And who knows, maybe something your partner says or does can put your mind to ease.

Best Wishes.

Ans: You are already doing the right first step—seeking help.

Your concern is real and understandable.
Your intention to take charge is deeply appreciated.

As a Certified Financial Planner, I will guide you with a full 360-degree view.
Let us now assess your current financial situation clearly.

Your Present Financial Picture
You are 35 years old and work in IT.

Your annual package is around Rs.15 lakhs.

Monthly take-home income is about Rs.90,000.

You have debt of Rs.20 lakhs, with Rs.40,000 EMI.

You have no savings right now.

You are delaying marriage due to financial stress.

You expect future personal loans during or after marriage.

Understanding Your Financial Strain
Your EMI is eating almost half your monthly income.

You have no emergency fund for sudden needs.

You are using all your earnings to just survive and repay.

Future commitments like marriage may create new debt.

No financial freedom, no savings, no investment yet.

Mentally, it can feel suffocating and stressful every day.

First Step: Get Back Your Control
You must not take any more personal loans now.

Delay marriage further till you fix your base.

Don’t think marriage needs a loan. Start simple.

Marriage adds emotional and financial responsibilities.

Don’t add new debt until old debt is reduced.

Reduce Your Existing EMI Burden
Rs.40,000 EMI every month is very high now.

Try to consolidate multiple loans into one.

Take a longer-term loan with lower EMI.

Ask your bank or NBFC for a loan restructure.

Explore balance transfer with lower interest.

Try converting credit card dues to personal loan.

Your aim is to bring EMI under Rs.30,000 monthly.

Immediate Changes to Spending Habits
Create a strict monthly budget. Stick to it.

Track every rupee. Use mobile apps if needed.

Cancel all non-essential subscriptions and expenses.

Use cash or debit card only. No credit cards.

Avoid shopping, partying, unnecessary gifting.

Eat home-cooked meals, cut restaurant bills.

Rent smaller house or share room if needed.

Create Emergency Reserve Slowly
Even with tight budget, try to save Rs.5,000 monthly.

In 12 months, you will have Rs.60,000 saved.

Keep this money only for emergencies.

Do not invest this yet. Keep in savings account.

This gives mental peace and backup during crisis.

Start Basic Financial Discipline
Open a separate savings account only for saving.

Start one small recurring deposit of Rs.1000 monthly.

When bonus or incentive comes, save 50%.

If you receive tax refund, save full amount.

Treat savings as non-negotiable, like EMI.

Avoid These Mistakes
Don’t take new loans to repay old ones.

Don’t fall for loan apps or instant loans.

Don’t invest before building emergency fund.

Don’t believe in shortcuts like crypto or forex.

Don’t compare with friends or colleagues.

How to Think About Marriage
Marriage is not a financial goal.

But it needs emotional and financial readiness.

Don’t marry just because age is 35.

Talk openly with your future partner about finances.

Plan simple marriage within limits. No loan needed.

Be honest about your debt and plan to reduce it.

Once EMI Reduces, Do This
Your savings will start increasing.

Set target to save 30% of monthly income.

Start SIPs in mutual funds after 6 months buffer.

Use regular funds via MFD and CFP.

Direct plans are cheap, but not guided.

Regular plans give you guidance with discipline.

No index funds. Active funds perform better long-term.

Longer-Term Financial Goals
Once you save monthly, list goals on paper.

Retirement. Marriage. Children. House. Health.

Rank each goal based on urgency.

Assign time frame and rough cost to each goal.

Match your SIP amount accordingly.

Use a Certified Financial Planner to guide further.

Reduce Debt Faster When You Can
Any future salary hike—use 50% to reduce loan.

Any annual bonus—use 70% for lump sum repayment.

Target to close loan within next 3 years.

Don’t increase lifestyle even if income rises.

Stay with basic lifestyle until all debts cleared.

Build Positive Habits Daily
Read one personal finance article weekly.

Talk less about money stress, do more action.

Track expenses in a diary daily.

Save automatically by standing instruction.

Give yourself one small reward after each saving milestone.

Mentally Staying Strong and Focused
Your past spending cannot be changed now.

But your future is still under your control.

You are not alone. Many face this phase.

Step-by-step you will come out stronger.

Marriage can wait. Peace of mind comes first.

Family Support Can Help
If parents or siblings can help, take short support.

Not for luxury, but to reduce high-cost debt.

Don’t feel ashamed to ask if it helps life.

Keep them informed about your steps.

If You Want to Plan Better
Work with a Certified Financial Planner.

They give step-by-step handholding.

You stay accountable with someone reliable.

Mistakes reduce. Growth becomes disciplined.

Focus Areas for Next 3 Years
Cut EMI from Rs.40,000 to Rs.30,000.

Create Rs.1 lakh emergency savings.

Start SIP of Rs.5,000 after 1 year.

Close debt within 3 years.

Marry after your financial system is stable.

Final Insights
You are strong and aware of your situation.

Take one step at a time. Don’t rush.

Make your financial base solid first.

You can still have a good life ahead.

Focus on peace, not pressure.

You will recover from this phase gradually.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in
https://www.youtube.com/@HolisticInvestment

Ans: You have shared many useful details.
That shows your interest in proper planning.
You have assets, debts, income, and goals.
Let us now study your financial life step by step.
The goal is to create a 360-degree solution.

Family Income and Monthly Cash Flow

Your husband earns Rs. 2.5 lakhs monthly.

Rental income is Rs. 15,000 per month.

Total monthly income is Rs. 2.65 lakhs.

You stay in a rented home with Rs. 8,000 rent.

This means own house is given on rent.

Let us look at where your income is going.

Current Monthly Outflows

Home loan EMI is Rs. 30,000

Jewellery loan repayment is Rs. 80,000 to Rs. 1 lakh

Rs. 50,000 towards jewel savings scheme

Rs. 25,000 into Sukanya Samriddhi Account (SSA)

Rs. 3,000 SIP

Rs. 3,000 towards RD/PPF

Rent of Rs. 8,000

That means total fixed outflow is over Rs. 2 lakh per month.
Very less is left for daily living expenses.
This is a stress zone for monthly cash flow.

Current Assets

Flat worth Rs. 50 lakhs

Land worth Rs. 25 lakhs

Rs. 10 lakhs in SSA, PPF, RD

Rs. 4 lakhs in jewellery scheme

Gold jewellery (already paid for): not clear if separate

SIP corpus is unknown – likely small as SIP is only Rs. 3,000

Current Liabilities

Rs. 25 lakhs home loan outstanding

Rs. 12 lakhs jewellery loan

Loan EMIs are eating away too much income.
That reduces your savings capacity.
Let us now study this deeper.

Jewellery Loan Must Be Handled Fast

Paying Rs. 1 lakh monthly is too high.

That is 40% of your family income.

It creates financial pressure every month.

Jewellery loan is unsecured.

Interest rate is usually very high.

First target must be closing this loan soon.

Suggestions:

Stop jewellery saving scheme for now.

Use that Rs. 50,000 per month to repay loan.

Also stop recurring deposit and small PPF deposit.

Focus all extra money on clearing jewellery loan.

Once this loan is over, you will get peace of mind.

Re-look Jewellery Saving Scheme

Rs. 50,000 per month into jewel saving is huge.

This is 20% of income.

Gold is not an income-generating asset.

It does not give interest or rent.

Returns are uncertain.

Not suitable for long-term wealth creation.

Instead of saving so much for jewellery:

Focus on mutual fund investment

Build child education corpus

Build retirement fund

Jewellery for daughters can be planned slowly.
Buy small amounts closer to wedding age.
Not needed to lock huge funds now.

Home Loan is Manageable

Rs. 30,000 EMI is manageable

Home loan gives tax benefit

Interest rate is lower than jewellery loan

No urgency to pre-close this loan now

Continue EMI for home loan as per schedule

If any lump sum comes later, then pre-close partially.
But don’t mix with children’s education funds.

Rental Strategy

You are living in rented house

Your flat is on rent

This means you are not using own house

Question to consider:

Can you shift to your own house?

That saves Rs. 8,000 monthly rent

Also avoids inconvenience of shifting often

But only if location is comfortable

This is a lifestyle call.
From money view, staying in own house is better.

Sukanya Samriddhi Account Strategy

Rs. 25,000 monthly for two daughters

Rs. 3 lakhs yearly in total

This is more than required limit

Maximum allowed is Rs. 1.5 lakhs per child per year

Better to keep Rs. 1.25 lakh per daughter per year

Excess amount should be redirected to mutual funds

SSA gives fixed return
But does not beat inflation well
Education cost will rise sharply
You need equity exposure too

Mutual Fund Investment Plan

SIP is only Rs. 3,000 now

That is too low for your income

You must raise SIP slowly every year

Mutual funds give better returns than RD, PPF, gold

Benefits of mutual funds:

Beat inflation in long-term

Ideal for child education goals

Help in creating retirement fund

Flexibility to withdraw anytime

Liquidity is better than PPF/SSA

But use only actively managed mutual funds
Avoid index funds
Index funds copy the market blindly
They fall completely when market falls
They don’t remove poor stocks
Actively managed funds adjust portfolio smartly

Why You Must Avoid Direct Mutual Funds

Direct funds don’t give advice

No one reviews your fund regularly

You may select wrong schemes

Behavioural mistakes are common in direct route

When market falls, you may panic

Regular funds via MFD + CFP give expert support

Planner helps you with strategy, rebalancing, discipline

For long-term goals like child education and retirement
Always go with regular mutual funds via a Certified Financial Planner

Children's Education Planning

Your daughters are 5 and 7 years old

College fees will come in 10 to 13 years

You need minimum Rs. 50 lakhs for both

SSA will give some support

Balance must come from equity mutual funds

Steps to follow:

Create separate education goal portfolio

Increase SIP once jewellery loan is cleared

Target minimum Rs. 20,000 monthly SIP

Increase yearly by 10%

Review portfolio every 12 months

Retirement Planning

Your husband is 40 now

Retirement target can be 58 to 60 years

You must build retirement corpus slowly

Start separate mutual fund SIP for this

Even Rs. 5,000 monthly is a good start

Gradually increase every year

Do not mix child goals and retirement funds

Emergency Fund Must Be Created

Right now, you have loans and many expenses

What if income is delayed?

What if medical emergency happens?

Always keep 6 months expense in liquid fund

That is Rs. 1.5 lakhs minimum

Keep it in savings or liquid mutual fund

Do not use FD for emergency fund

FD breaks create penalty and tax impact

Action Plan in Bullet Points

Stop jewellery saving scheme immediately

Use that money to prepay jewellery loan

Target full closure in next 12 months

Pause RD and reduce SSA contribution

Increase SIP in mutual funds once loan is cleared

Continue home loan EMI as planned

Shift to own house if location suits

Create education fund via equity mutual funds

Start separate retirement SIP

Keep 6 months emergency fund

Review goals and investments yearly

Always invest through regular funds with CFP

Don’t invest in index or direct mutual funds

If You Hold LIC, ULIP, or Endowment Policies

If any of these are part of your savings

Please check return and lock-in

Most of them give 3% to 5% only

That is not suitable for long-term goals

If policy completed 5 years

Consider surrendering it

Reinvest that amount in mutual funds

Finally

Your income is strong and steady
But current outflows are too high
Jewellery loan must be closed first
Jewellery savings must be stopped now
Mutual fund SIP must be increased yearly
Education and retirement planning must start now
Use only actively managed mutual funds
Invest only through Certified Financial Planner
Avoid index and direct funds
Track and review your plan regularly
Do not mix goals and funds
Use your income wisely for long-term peace

Best Regards,
K. Ramalingam, MBA, CFP,
Chief Financial Planner,
www.holisticinvestment.in
https://www.youtube.com/@HolisticInvestment