Marriage Economics

I actually want to say that India is probably one of the most materialistic civilizations where prestige and status is defined by wealth and all other good stuffs. Materialism and superficiality are not new in my subcontinent. The levels are just being magnified now. Let me tell you the hidden truth, the idea that Indians are really spiritual people, is just marketing.

I am talking about Marriage Economics "A dissertation".

The costs of marriage are adding up day-by-day and becoming a multi-million Rupee (INR) celebration (does anyone really want to call this "insanity" a celebration). There are so many customs and traditions that the Indian's (yes, Hindu, Muslim, Punjabi's etc) take into account. Sagai (book a hall, buy gifts and sweets for other family), Mehandhi (hire mehendhiwalas, they don't come cheap), Ladies Night (book a hall, hire a DJ), Marriage (clothes for bride or groom, jewellery often 22 carat gold, hire of a venue or hall, hire of a DJ) and many more items such as the reception and gifting to guests.

I think there added pressure when a NRI get marry. They make wedding ultra expensive to show there relatives that, they are doing well financially. Waoooooo one more example of frivolity of Indians.

So why these idiots do it?

Absolutely correct "ego". Ego has a huge factor on the wish for big weddings

a) To show off one's alleged wealth and thinks horror of horrors, people will think that we "can't afford it".

b) So that people/community/"samaaj" don't think that one is too miserly to splash out on an expensive wedding for one's children.

My brother said, There's a lot of stuff people spend money at wedding that isn't about the core of a wedding, which is getting family and friends together and celebrating.

Ohh so you spent 10 lkh Rupee on a get-together party.... haha ha hahaa. Give me the gun, I wanna shoot myself.

My roome argued one day; Nirnay, it's the most special day a couple can have and so why shouldn't it be over the top and expensive. Sometimes it's the simple things in life that make you truly happy. Down the line in life, when you look back, you will be chrish to remember your wedding day.

ohhh ohhh now don't play game of emotional "atyachar", which you learned from "rotlu" Sharukh Khan. Let's talk in figures. Average couple is 26 years old, so the money would have roughly 40-50 years to grow. Couples who lay out the median cost of a wedding nearly INR 10,00,000 in 2009, actually missing:

Actually missing 37.5 Crore to 167.7 Crore in wealth accumulation over a lifetime by One Time Investment Plan from ICICI Prudential.

OR

Lets don't talk about private players... they assure you something, then suddenly ditch you. Let's take Post Office Saving, which doubles money every 7-8 years.

So 10,00,000 becomes 3.2 Crore in 40 yrs or 6.4 Crore in 50 yrs.

OR

Actually missing 4.5 Crore to 11.7 Crore in wealth accumulation over a lifetime by Jeevan Aastha policy from LIC. (LIC is Govt organization, it is fully owned by the Government of India)

(http://www.bankrate.com/calculators/retirement/roi-calculator.aspx)

My friend Anurag told me; laa-l-la-laa... Nirnay is an idiot, Nirnay is an idiot. Who will gonna calculate the Rate of Inflation.... laa-l-la-laa...

So my dear friend, Nirnay is not an idiot. Let's calculate money after Rate of Inflation. (I found data for last 30 years only from 1980 to 2009). Average inflation rate of last 30 years was 8.004% per annum with minimum 3.77% in 2001 and maximum 13.23 in 1998.

So, couples who lay out the median cost of a wedding nearly INR 10,00,000 in 2009:

After average inflation of 8%, actually missing, 16 Crore to 34 Crore via ICICI Prudential or 4 Crore to 5 Crore via Jeevan Aastha policy from LIC.

(http://www.moneychimp.com/calculator/compound_interest_calculator.htm)

Can you believe, Total number of marriages performed in India in 2007 are 1 crore and Total number of reported marriages through shaadi.com in 2007 is 7.2 lakh.

Now you know, your crazyness cost you and India between 5-150 Crores per marriage. And then multiply this to 7.2 lkh marriages from shaadi.com and count the zeros. (Just leave 1 crore marriage as of now ;) )

Indians you have to realise that you have to stop pretending and spending your life savings on proving you are just as good as others!

Well, to be honest with you, I still want to spend this much money on my marriage, but then instead of this holocaust and show-off, I just want to give a engagement ring cost more then 5 Lkh to my bridge, by diamond producer De Beers. From me..... A BIG no-no for foolhardiness and thoughtless 2-3 day wedding.

On my last serious note, along the commitment to "honour and cherish" we should add a new vow: "Before spending seven figures -- on a lavish party or anything else -- I promise to ponder whether the expense aligns with our deepest values and enhances or compromises our and countries financial well-being."

An Indian,

Nirnay Bansal