How to Finance Your Honeymoon

How to Finance

Your Honeymoon

Honeymoons are a magical way to celebrate love and to spend time with your new spouse, but if your pockets are feeling a little light after the wedding, figuring out how to finance your honeymoon may seem a bit daunting. But, with some research and planning, it is certainly possible to celebrate marrying the person of your dreams with the honeymoon of your dreams without causing yourself a financial nightmare. Here are some tips on ways to save up for the big trip, and, if you’re still looking for a little help, different methods for financing the honeymoon.

Ways To Save

Find the best destinations for your money

One of the most critical decisions in planning your honeymoon is of course where you will go! If you don’t have one particular destination in mind, do some research as to where you might be able to have the best experience for the least amount of money. You may be able to find an off-the-beaten-path destination that is equally (if not more!) magical than the more touristy spots with a much more reasonable price tag. I’m sure you’ve also had friends or family members encouraging you to go the all-inclusive route as a way to get the most bang for your buck. All-inclusive trips can be a great way to get a good deal, but make sure you’re reading the fine print. If you think something sounds too good to be true, chances are it is.

Consider the timing

Most destinations will be cheaper at certain times of the year. If you’re set on taking your honeymoon right after the wedding, you may want to research destinations that are more cost effective at that time of year. Or, if you’re set on a particular destination, consider waiting until prices are lower even if that means not going immediately after your nuptials.

Get cooking

A great way to save money once at your destination is to choose an accommodation with a kitchen or kitchenette. Preparing your own meals – particularly breakfast and lunch – can go a long way in cutting costs (and can also be a fun activity for you and partner!).

Put your points to work

Have a credit card with hotel or airline points? Consider looking into what airlines and hotels participate in your card’s points program and where you may be able to go to use these points. Doing a little digging is key here – many hotel chains have sister properties in popular destinations that may not bare the more recognizable name.

Take a mini-moon

“Mini moons” – or going on a smaller trip right after your wedding while taking more time to save up for your bigger trip – have become increasingly popular lately. Taking a mini-moon can be something as simple as going on a weekend trip to a destination close to home or even a staycation, or it can still involve a flight or a more exotic destination, just for a shorter period of time. Whatever your pleasure, the perks of a mini-moon include getting to spend that quality time with your partner right after the wedding while also taking the time you need to save up for that pricier trip down the line.

How To Finance

Like with any foreseeable expense, the simplest and most effective way to save up for a honeymoon is to start including it in your monthly budget as soon as possible.

This can certainly be difficult, particularly if you and your partner are contributing to wedding costs, but even sticking $20 a week in a honeymoon jar can go a long way toward making your dream trip a reality.

Credit cards

Travel credit cards, in particular, can be a great way to finance your honeymoon. Research which cards may offer the best travel rewards or have sign-up bonuses so you can make the most of the money you’re spending. But like loans or lines of credit, consider how quickly you will be able to pay off the debt. If the card offers an interest-free period, aim to pay off your balance before the interest kicks in.  However, you have to be cautious not to overcharge more than you can afford. Just because you get to pay later doesn’t mean you don’t have to pay!

Honeymoon Registries

Honeymoon registries have become all the rage lately. Instead of the traditional gift registry, couples are asking for money toward their honeymoon from their guests. Some websites offer honeymoon registry platforms, which can allow your guests to contribute to specific expenses related to your trip. Some destinations and honeymoon providers also provide honeymoon registry sites.

Your honeymoon is a once-in-a-lifetime trip, and you and your partner deserve to make the most of it. The cost of travel, particularly after a significant expense like a wedding, can undoubtedly be disheartening, but it is indeed still possible to have a magical and memorable honeymoon without breaking the bank. The traditional path is not always the best or most cost-effective path, and that’s okay! By looking into alternatives, planning ahead, and making sure you’re getting the most bang for your buck, you and your partner can create memories that will last long after the trip is paid off!

Leslie Tayne

Leslie H. Tayne has more than 15 years' experience in the practice area of consumer and business financial debt-related services. Speaker, Author of Life & Debt, Attorney and Founder of the Tayne Law Group, P.C., Leslie is working towards reshaping the debt industry by offering real, proven solutions to help her clients get back on the road to financial freedom.

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