Anant
Ambani's pre-wedding has sent social media into a frenzy with glimpses of the
glitz, and glam, and no wonder, it sparked a flurry of articles, social media posts,
videos, insta and much buzz.
It surely is
damn impressive, to say the least.
Now...
before you start budgeting for a Private Jet Wedding on a Private Island, let's
unravel a few lessons from this Ambani Extravaganza.
REAL PEER PRESSURE:
Ambani's
have all the prerogative and right to indulge in the way they want to conduct
their family wedding but for mere mortals like most of us... the pressure to
replicate at least some %age can be overwhelming, leading to Financial Turmoil.
**UNDERSTANDING THE TRUE SIGNIFICANCE OF MARRIAGE**
Marriage is a sacred union between two individuals, signifying the beginning of a new chapter together. Traditionally in India, weddings are celebrations that bring together two families, symbolizing love and unity. However, in today's digital age, the allure of extravagant weddings showcased by the affluent has reshaped societal perceptions & resulted in BIG FAT Weddings which are used to show off your wealth and social connections.
**WEDDINGS AS A PLATFORM FOR EXTRAVAGANCE**
In contemporary times, weddings have transformed into extravagant displays of opulence.
Destination Weddings,
Royal Themed Weddings,
Beach Weddings
Under Water Weddings (!!)
and even SKY Weddings
Every
couple and every family seems to have only 1 motive while planning a wedding...
Do Something Different and Do something BIGGER than any other previous events.
Couples and
families often feel compelled to indulge in designer attire, candid
photography, exotic flowers, and global cuisine—a trend that reflects the
societal inclination towards showcasing wealth.
Read our Best Selling Book DONT RETIRE RICH
**THE CULTURE OF EXCESS**
One of the most concerning and unholy aspects of modern weddings is the trend of lavish return gifts, where hosts vie to outshine one another, often leading to excessive spending, useless stuff, and many families in debt for life.
** BREAK FROM SOCIETY PRESSURE**
The pressure to have a "big fat Indian wedding" can be h-u-g-e.
Break from
this cycle of overspending and trying to outdo your cousins and neighbors.
1. Set
realistic expectations: Don't compare your wedding to a billionaire's.
Figure out what YOU can comfortably afford and stick to it.
2. Prioritize,
prioritize, prioritize: Focus on what truly matters to you and your
partner. Do you care more about the food, the music, or having a fabulous
honeymoon? Allocate your budget accordingly.
3. Think
long-term: Don't let your wedding dreams become a financial nightmare.
Invest in your future together instead of blowing it all on a one-day event.
**LESSONS FROM THE AMBANI WEDDING**
Mukesh Ambani, with a net worth now exceeding Rs. 9,60,000 crores spent a modest fraction—approximately 0.14%—on his son's pre-wedding festivities. His approach offers valuable lessons for those prone to overspending on weddings.
In fact, the
entire wedding is expected to cost only Rs.10,000cr (Yes, I used ONLY because
of the sheer size of Ambani's net worth)
This 10,000cr is just 1% of net worth.
It’s like if
you have Rs.1 crore of net worth, you are spending Rs.10,000 on pre-wedding
festivities and for the entire marriage only Rs.1 lakh!!
JUST IMAGINE
THE SHEER WASTE OF MONEY WE DO ON OUR WEDDINGS
**SET REALISTIC SPENDING LIMITS**
Individuals should cap their wedding expenditures at a reasonable percentage of their net worth. Ideally, wedding expenses should not exceed 1% of one's net worth, with a maximum of 5% in exceptional cases.
**PRIORITIZING LONG-TERM FINANCIAL SECURITY**
Before
succumbing to the desire to IMPRESS OTHERS. THINK!! The wedding is for 1 day, but
your financial future is FOREVER.
Make sure
your other financial goals are not compromised to spend for the wedding.
A Separate Goal exclusively for Weddings will ensure that long-term financial stability is maintained, and other financial commitments and goals is not compromised.
**EMBRACING FINANCIAL PRUDENCE**
Meticulously plan and start investing in systematic investment plans (SIPs) in Equity Mutual Funds towards funding wedding expenses. You will then be able to enjoy lavish celebrations without compromising your financial security.
https://youtu.be/D9_uiMOdTnM?si=QD_vdQVn3PKX8dC5/
**INSTEAD OF RETURN GIFTS... DO THIS**
Rather than
indulging in extravagant return gifts, consider A
GIFT WHICH KEEPS ON GIVING BACK. like the humble equity mutual funds.
Such gifts
not only bolster their financial stability but also have the potential to grow
into substantial assets for future use.
**CONCLUSION**
So, to sum it up, while those
lavish weddings may turn heads and get tongues wagging, it's vital to handle
marriage celebrations with some financial savvy. Instead of using the Ambanis'
big day as your spending model, take a cue from how they kept it real within
their means.
Let's borrow a page
from the Ambani playbook and aim for smarter money moves in all areas,
including weddings. By picking up on lessons from events like theirs, we can
prioritize financial prudence while still throwing a bash to remember. After
all, what really counts in marriage is the connection between two people, not
how fancy the party gets.
REMEMBER HAPPINESS DOES NOT HAVE A PRICE TAG!!
BEFORE LEAVING READ THIS…
Ambani's daily income is Rs.225 crores!
So, the pre-wedding rituals cost Rs.1,000 crores is less than 5 days of his income
The Full Wedding Cost of Rs.10,000 crores is less than 2 months of his income
So, the biggest takeaway is
INCREASE YOUR INCOME
INCREASE YOUR NET WORTH
AND THEN SPLURGE LIKE THERE IS NO TOMORROW
Regards & wishing Super Financial Success
Srikanth Matrubai
Author: Don’t Retire Rich
All the best,
Regards,
Srikanth Matrubai
https://t.me/joinchat/AAAAAELl4KUnaJzi-JJlDg/
No comments:
Post a Comment