Wealth Management: Plan the Perfect Wedding!

If you are the lucky love struck chap who has popped the big question and have received a “Yes”, then wedding bells are ringing, indicating a happy beginning to your fairy-tale. Well, not necessarily. Beginning with purchase of the perfect ring to paying for a big fat wedding, there are many expenses that you’ll have to shoulder.

Here are 5 reasons why a credit card is your best friend this marriage season:

• Online shopping using credit card ensures consumer protection in case the seller turns out to be fraudulent.
• If some costs are charged to your credit card, the travel miles offered can be used for taking your bride to an exotic honeymoon destination.
• With credit cards that offer you privileges on dining and entertainment, you can plan extravagant dates with your significant other.
• A cash back credit card will give additional benefits to the cardholder. With these cash back reward points you can get your fiancé that red dress she has been coveting, or pamper her further with a Spa retreat!
• Easy tracking of wedding expenses is another plus of using a credit card. Statements of the month’s expenditure will definitely help you manage your finances efficiently by restraining from impulsive buying.

Personal Loan Vs. Credit Card : The Dilemma Solved

Out of cash to buy that perfect gift? Planning to take that long-delayed holiday getaway but running short on funds? Facing a financial emergency? Don’t worry. We've all been there! But before you make a decision about charging your expenses to your Credit Card or opting for a Personal Loan, here are a few pointers to simplify matters. Research is going to be your best buddy during these times.

Pros of Credit Cards

• Credit cards are a great option since it comes with quick approval, hassle-free documentation, and nominal processing fees.
• It comes with the facility for conversion of purchases to easy-to-pay EMIs.
• Ensures customer protection from fraudulent sellers and online scams.
• By charging your expenses to your credit card you can avail additional deals such as travel benefits, exciting rewards, etc.

Pros of Personal Loans

• Personal Loans are cost-efficient and affordable over the long-term. It has low interest rates compared to Credit cards.
• It has a proper schedule for repayment hence helps manage your finances well.
• The condition of receiving only limited funds ensures that you don’t overspend.
• Reliable since interest rates are fixed.

Choose the right product as per your requirements and needs. What may suit you may not be what is the best option for someone else. Beware of the looming terror - Debt trap. Once you fall into it , it becomes a vicious cycle - a nightmare from which you cannot wake up. So make a wise choice, meet your needs and wants, under the sure safety of being able to pay back the loan/credit.