Child Marriage Expense Calculator India 2024

Updated On: 2024-02-14

Author : Team Policybachat

Planning for your child’s dream wedding is an exciting journey filled with joy and love. Did you know that the average cost of weddings has been steadily rising, making financial preparation more crucial than ever? According to recent studies, the expenses associated with weddings can often be overwhelming for families, making it essential to plan. This is where the Marriage Expense Calculator steps in as a valuable tool, offering a strategic approach to financial preparedness.

The Marriage Expense Calculator is designed to help you navigate the financial aspects of your child’s special day. Discover how combining this resource with a child insurance plan can provide the peace of mind and financial security needed to make their dream wedding a reality. Let’s delve into the importance of early planning and how this tool can ensure a memorable celebration without compromising your financial well-being.

What is the Marriage Expenses Calculator?

A child’s marriage planning calculator is a financial tool designed to help parents estimate the potential expenses associated with their child’s wedding and plan accordingly. This calculator typically takes into account various factors and costs related to a wedding, allowing parents to get a rough estimate of the funds they might need to save or invest for their child’s marriage. These calculators are helpful for parents who want to plan and save for their child’s wedding in a structured manner, ensuring that they are financially prepared for the significant expenses associated with such an important life event.

Why Should I Use Child Marriage Planning Calculator in India?

Using a child marriage planning calculator in India can be beneficial for several reasons, helping you make informed financial decisions and ensuring you are well-prepared for your child’s wedding. Here are some reasons why you might consider using a marriage planning calculator:

  • Budgeting: A child marriage planning calculator assists in creating a realistic budget by estimating the potential expenses associated with the wedding.
  • Financial Planning: The calculator helps you plan and organize your finances well in advance.
  • Goal Setting: Setting specific financial goals is crucial when saving for a child’s wedding. The calculator helps you set achievable milestones, making it easier to track your progress and adjust your savings strategy if needed.
  • Investment Planning: Some calculators may incorporate investment considerations, helping you explore ways to grow your savings over time. Understanding different investment options and their potential returns can aid in making informed decisions.
  • Avoiding Debt: Proper planning with a calculator can help you avoid relying on loans or accumulating debt to fund the wedding.
  • Prioritizing Expenses: With a clear estimate of wedding costs, you can prioritize expenses based on your preferences and financial capacity.
  • Emergency Planning: A child marriage planning calculator may prompt you to consider emergency funds or insurance options. This can be crucial in handling unexpected expenses or changes in financial circumstances.
  • Reducing Stress: Financial stress can be a significant factor during wedding preparations. By planning with child insurance plans, you can reduce stress and focus on the joyous aspects of the occasion, knowing that you have a well-thought-out financial plan.

How to Plan Your Child’s Future with Child Marriage Expense Calculator

Planning your child’s future, including their potential marriage expenses, involves a combination of financial planning, goal setting, and risk management.

Research and Choose a Reliable Calculator:

Look for reputable financial planning websites or use tools provided by insurance companies. Ensure that the calculator covers various aspects of marriage expenses.

Estimate Marriage Expenses:

Enter relevant information such as your child’s current age, estimated age at marriage, and your financial details including income, existing savings, and investments and use the calculator to estimate potential marriage expenses.

Set Realistic Savings Goals:

Based on the estimated expenses, set realistic savings goals. The calculator should help you break down the total cost into manageable milestones.

Explore Investment Options:

Some calculators may provide insights into potential investment options. Research different investment instruments such as Investment Plans or child education and marriage plans offered by insurance companies.

Choose Appropriate Plan:

Select a child insurance plan that aligns with your goals. Consider factors such as the sum assured, premium payment terms, and maturity benefits. Some plans may offer coverage for education and marriage expenses.

Compare quotes online:

Compare plans online and seek advice from financial advisors at PolicyBachat to ensure that your financial plan is well-structured and meets your objectives.

How to Use Child Marriage Plan Calculator Online?

  • Go to a reliable child marriage expenses calculator online.
  • Enter your child’s current age and then enter the estimated age at which you expect your child to get married.
  • If you have any existing savings or investments for this purpose, enter that amount.
  • Then enter current estimated expenses for various wedding aspects like venue, catering, attire, jewellery, etc.
  • Then the calculator will allow you to account for inflation and investment growth.
  • After that the calculator will generate results based on the information provided. It may show a total estimated cost and recommended savings per month.

Example Calculation

Here is the example child future marriage expenses calculation:-

Child Current Age 5 Years
Estimated Age to Get Child Married 25 Years
Time Horizon for Savings 20 Years
Savings Rs. 1 Lakh
Present Estimated Wedding Expenses Rs. 20 Lakhs
Inflation 6%
Future Estimated Wedding Expenses 65 Lakhs
Rate of Return 8%
Investment Required to Meet Your Child’s Cost of Marriage 10K per Month

Best Investment Plans to Plan Your Child Marriage

Choosing the best investment plans to plan for your child’s marriage in India involves considering various factors such as your risk tolerance, investment horizon, and financial goals. Here are some investment options that you may consider:

ULIPs (Unit-Linked Insurance Plans):

  • Unit-linked insurance Plans (ULIPs) combine insurance and investment, offering both life coverage and market-linked returns.
  • Suitable for those seeking a dual benefit of insurance protection and wealth creation.

Equity Mutual Funds:

  • Equity mutual funds invest in stocks and have the potential for high returns over the long term.
  • Ideal for long-term goals, but they come with market-related risks.

SIP (Systematic Investment Plan):

  • SIP allows you to invest a fixed amount regularly, providing the benefit of rupee cost averaging.
  • Suitable for disciplined and gradual investment over time.

PPF (Public Provident Fund):

  • PPF is a long-term, government-backed savings scheme with a lock-in period of 15 years.
  • Provides tax benefits and a fixed interest rate, making it a low-risk investment option.

Sukanya Samriddhi Yojana (SSY):

  • SSY is a government-backed scheme specifically designed for the girl child.
  • Offers tax benefits and a fixed interest rate, with a maturity period extending until the girl reaches 21 years.

Fixed Deposits (FDs):

  • Fixed Deposits provide a fixed interest rate over a specified period, offering capital preservation.
  • Considered a low-risk option but may have lower returns compared to equity-based investments.

Child Insurance Plans:

  • Many insurance companies in India offer child plans that combine insurance coverage with a savings component for various milestones, including marriage.
  • These plans often provide guaranteed returns and can be customized to meet your specific needs.

Best Child Insurance Plans in India

Plan Name Entry Age Maturity Age Policy Term
HDFC Sanchay Plus 30 days to 65 years 18 years to 85 years 5 Years to 20 Years Invest Now
Bajaj Guaranteed Income Goal 6 years to 60 years 18 years to 72 years 5 years to 20 years Invest Now
ICICI Prudential Guaranteed Income For Tomorrow 18-policy term to 60 years 18 to 85 years 5 years to 20 years Invest Now
AEGON i-Guarantee Max Savings Plan 3 Months to 50 years 18 to 70 years 7 years to 20 years Invest Now
Max Smart Wealth Plan 91 days to 65 years 18 to 85 years 6 years to 20 years Invest Now
Kotak Guaranteed Savings Plan 3 years to 60 years 18 years to 75 years 10 years to 20 years Invest Now
Canara HSBC OBC Guaranteed Savings Plan 0 years to 60 years 18 years to 75 years 10 years to 20 years Invest Now
TATA AIA Life Guaranteed Return Insurance Plan 18 years to 65 years 18 years to 85 years 5 years to 40 years Invest Now


Child Marriage Expense Calculator can be a valuable tool for parents planning for their child’s future wedding. The calculator helps estimate the potential expenses associated with the event and assists in creating a structured financial plan. Ultimately, the best investment plan can help you achieve your goals while ensuring financial security for your child’s future.

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