The paperwork For women, marriage often entails a change in the surname and also the first name in some cases. Update your KYC details in banks and other investment avenues. Get your address changed. Existing nominations will also require immediate attention. For a smooth transition, it's essential to keep a record of all the original documents in one place.
Get hold of a marriage certificate at the earliest. Investments made by your parents with you as the nominee may not require any change. But remember nominations in case of investments of those who are getting married need to be modified in their spouse's name after marriage.
Managing bank accounts Post-marriage, you need to take a call on whether to continue with your individual bank account or get a joint account. It's better for women to continue with the existing account well into the first few years of marriage as certain cheques in their maiden name would not be subject to name-change formalities. Holding two separate accounts is, however, catching up. Bose says, "It's a good practice to follow the 'mine, yours, ours' approach and maintain separate accounts for discretionary spends, while pooling money together for shared aspirations such as a home purchase.
Maalde advices, "This is pure expense and can delay one of your important goals for few years. Advise them to prioritise the goals and then make the budget for marriage. Bose says, "Make sure your partner knows exactly how much is in your account. It's foolish to keep money secrets from your spouse. Not all youngsters are risk-takers whereas some may be prone to putting their savings into equity asset class, which, studies have shown, has the potential to generate high inflation-adjusted return.
When it comes to crafting a long-term financial plan, try to communicate to bring in more clarity. Be frank about your money values and aspirations. Try to reach a middle ground and don't try to adapt your spouse to your money values or vice-versa," adds Bose. Just married The first few years of marriage may well be all about spending and travelling. But such days may also be used to discuss financial matters and lay down the foundation for future financial goals.
First things first, get a health insurance plan for self, spouse and parents even before you start saving. If there is an existing health insurance plan bought before marriage, do not drop it. Apply for a name change in case of woman who changes her surname after marriage or addition of your spouse's name to it. Along with health covers, buy a term insurance plan for at least 10 times of your annual income. Remember to review the coverage every five years.
If both you and your spouse are working, the one earning more may buy life cover to meet at least 75 per cent of the household income needs. Conclusion Meeting the monthly household needs could be the starting point of a talk about money. Investors should consult their financial advisers before taking any investment decision. Power of starting early By investing early, it would be easy to achieve your goal.
Then at the age of 60, the early investor would have a corpus of over Rs. Calculation shows a difference of Rs. Power of disciplined investing When investing in SIPs, you do not have to worry about timing the market. Regular investing will ensure that you are invested irrespective of the market highs or lows. This will help you make the best of an opportunity that would have been difficult for you to predict in advance. Systematic Investing in Equity Mutual Funds Equity market offers a great opportunity for long term wealth creation.
Wealth creation comes with systematic investment over a long term. Moreover, the dividends earned are tax free!
Think, tiaa-cref responsible investing opinion
CAPEX FOREX TRADING
Think about it: couples are seeking a beautiful, organized, seamless celebration. As such, if you want to instill trust in your clients, your site needs to be pretty to look at and easy to navigate. Luckily, a great website no longer costs an extraordinary amount of money. Personally, I recommend purchasing a Showit template or a Squarespace template. First, one of the best ways you can build trust with a couple is by including your headshot on your website.
Regardless of how camera-shy you may be, you absolutely cannot skip a good headshot on your website. Prioritize this over focusing solely on the service you offer. After all, the story on your website should be one that speaks to the frustrations, stresses, and worries your ideal client has — and then positions you as the expert who can solve them! A Professional Brand Your brand encompasses your logo, color palette, fonts, and imagery.
In other industries, a new business owner might be able to get away with not having a set color palette or professional-looking logo at first. But in the aesthetics-driven world of wedding planning, investing in a professional brand is an absolute must! This is because clients will associate the way your brand looks with your event-design capabilities. Keep in mind this is an investment in the truest sense of the word.
As a result, your brand will ultimately help you attract and book leads. There are tons of design shops out there that offer pre-made brands and semi-custom logos to choose from. One of my favorites is Saffron Avenue. Next, as part of your branding package, you might also want to include social media templates. This way, you have pretty, pre-designed templates that you can quickly customize for each post.
Wedding planning is a low-cost business to start, which means that with a little work you can have your own wedding planning business up and running without spending a fortune. Where to Save Here are the areas where you can be more frugal when starting a wedding business: Website There are many web designers and business coaches who say you should start with a state-of-the-art wedding planner website.
When you do not have the budget for a big website build, what should you do? There are many low-cost DIY options such as Squarespace and Wix that can get you started with a decent web presence while you get your wedding business off the ground. Low-Cost Marketing Once you are in the wedding business, you will find VERY quickly that there are lots of ways to spend money on marketing.
From print ads to wedding shows , these opportunities cost money that you probably do not have. Instead, start with things that can have a high impact for a low dollar amount. This will also help you build your network of preferred event professionals. Word of mouth ask your friends and family to spread the word about your new business Home Office Space You might dream of a beautiful office filled with employees but right now, keep your wedding planning business at home! Office expenses can be astronomical when you factor in utilities, insurance, and all the other necessities.
By working from home, you avoid a big monthly bill. Many VERY successful wedding planners still work from a home office. Having commercial space is not a necessity for success as a professional wedding planner. Free Educational Resources Much like marking opportunities, there are many paid educational programs to teach you how to be a wedding planner and how to grow a business in the wedding industry.
It can be very enticing to start buying up these courses as they often promise quick results. There are many free and low-cost education opportunities for new wedding planners. You just have to dig a little deeper. Being licensed is not only required but it gives you credibility. There are many wedding professionals who forgo this step and it is a huge risk.
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