Weddings are an expensive undertaking. According to The Knot, weddings cost an average of $28,000 in 2021, not including the honeymoon or engagement ring.
Honeymoons cost an additional $5,000 on average but can cost tens of thousands of dollars if you want to go somewhere far away. If you do not have that kind of money lying around, which many do not, you can use a wedding personal loans, which also can cover honeymoon expenses. These loans can give you the cash you need upfront and then get paid back over time, avoiding high-interest credit card debt or having to forgo some of your dream items.
Budgeting tips to have your dream wedding and dream honeymoon
1. Add honeymoon items to your registry
Although you might think of your wedding registry only for items for your house, you can also add honeymoon items to it. Be sure to incorporate things for all price ranges–everything from buying you a coffee at the airport to helping fund plane tickets or resort fees. You can get creative and add vouchers for massages, excursions that you might want to take, or just cash to spend while away.
2. Incorporate your honeymoon into your wedding
If you want a destination wedding anyway, you can honeymoon near your wedding location, so you do not have to pay for expensive plane tickets. Learn everything you need to know about planning a wedding abroad to see if this is the right option for you. Having a destination wedding might be cheaper because fewer people come than having it locally. You can then either stay in your destination and move hotels or catch a cheap flight to a nearby city and have your honeymoon there.
3. Include your honeymoon in your wedding budget
Rather than thinking of them as two separate entities, you can include your honeymoon expenses into your wedding budget. Say you have $30,000 to spend on your wedding. Set aside $5,000 – $7,000 for your honeymoon, and then use the other part of your budget for your wedding.
4. Leverage points and miles
Points and miles can save you hundreds, if not thousands, on honeymoon expenses. If you are not already signed up for loyalty programs at your favorite airline and hotel chains, do so now. You can also take out co-branded credit cards, which earn you many points and miles once you complete the sign-up bonus. You can use these points to book airfare and hotel stays or even pay yourself back for big purchases. When you cover your most significant honeymoon expenses with points, you have plenty of room left over in your wedding budget to pay for both.
5. Look early; go later
Try your best to book as soon as you find a reasonable price on flights and lodging. You also do not have to go on your honeymoon directly after your wedding. Instead, if prices are better a month later, go on your honeymoon then and enjoy married life before you go. If you are more flexible when you go, you can save substantial money.
*Costs in USD