To save for a December wedding, a strategy is proposed: save 8,000 from fixed income plus variable income (estimated 4,000) for a total of 12,000 per month, prioritizing RDs or small FDs. By December, this, combined with a maturing 1 lakh FD, could result in approximately 1.5 lakh saved.
"Starting August, if you want to save for your wedding, because your wedding is in December, and you want to be able to do it efficiently by taking a minimum loan, then you can save 8,000 rupees per month from your fixed income. Plus, by adding whatever variable amount you get each month, hopefully it will be around 4,000, which means the total could be 12,000 rupees. You should start saving that, but because it's a very short period, we wo n't invest it anywhere in the stock market, etc. You cannot mess with it much because it is a planned expense, so you should start a recurring deposit for it or make FDs of small amounts for it. My best suggestion is that recurring deposit is fine, so start an RD, whatever you get for Rs. 45 is also enough, so start with an RD of Rs. 8 per month which will be from your fixed salary plus whatever variable amount you get each month, that end whatever you get, whether you get Rs. 4, 6, 10 or you don't get anything, then don't invest that month, but at least Rs. 8000 should be going in every month so that when the time of marriage comes, the FD of Rs. 1 lakh that you have, which will mature by the way in October, you should convert it back into FD because if that becomes FD plus this becomes RD, then you will be able to save around Rs. 1.5 lakh by December."
