tiprankstipranks
Personal Finance: 7 Tips to Honeymoon on a Budget
Personal Finance

Personal Finance: 7 Tips to Honeymoon on a Budget

Story Highlights
  • Honeymoons are an opportunity for you and your partner to enjoy yourselves.
  • Here are some tips to make sure that the focus remains on your time together and not on your finances.

Planning a wedding can be stressful, and rough on your personal finances. After your big day, there will be plenty of desire to get away from it all with your spouse before embarking on your shared life together. Here are seven tips to help you honeymoon on a budget.

The most important consideration is making sure that you have a chance to spend quality time together without the hassles of the everyday. This can be accomplished on every type of budget.

Take Your Time

A honeymoon does not need to happen immediately after your wedding. If you have a special destination in mind, think about the best time of year to travel and whether or not you might be able to find cheaper deals by waiting a few months.

Shoulder season is that specific period between the peak and off seasons. Traveling in these less crowded times could net you significant savings on airfare, lodging, and other tourist attractions.

Look Beyond the Beaten Path

There are certain locations that are seemingly synonymous with honeymoons. However, there is a great, big world out there, with tons of options for newlyweds looking to stray from the beaten path. In short, there are plenty of bargains out there for those ready to do a bit of research.

Exotic locales can be found all over the globe, so try to extend your search to additional areas that are less popular destinations.

Think Global, Act Local

Try to resist the urge to “jet away” just because you feel like you should. There might be great options for you closer to home.

Especially for those who are less inclined to go on a grand adventure, finding a nearby rental can be a great way to unwind and spend some quality time together. This will allow you to save on airline tickets and other incidentals, such as travel insurance.

Being a tourist in your own backyard certainly has its perks, as you might even find some great attractions that you will be able to revisit regularly.

Consider an All-Inclusive Package

It might sound somewhat counterintuitive, but finding an all-inclusive vacation package might save you some money. Costs–even small ones–can add up, and you could be in for an unpleasant surprise when the trip ends and the bill comes due.

An all-inclusive package, where the costs of meals and excursions are already priced in, will allow you to avoid going over your budget. In addition, part of the enjoyment of going away is to leave your money worries behind.

One hopes to escape from the mundane when they are away on vacation. The very last thing you want on your mind is the bill you are accumulating.

Plan in Advance

The importance of planning ahead is a constant theme in personal finance. This includes both the budget you can allocate to your trip, as well as booking your travel well in advance.

Reserving flights, accommodations, and tickets to attractions early on will help you to find cheaper options. Not only will this be good for your wallet, but working out the details of your trip well before your travel dates will force you to conduct your research. This will allow you to learn about the best sites to see, treks to hike, and foods to sample.

Eat Like a Local

Just because you are on vacation does not mean that you need to eat five-course meals at every opportunity. While it is true that there will be certain local delicacies that you will want to try, be judicious with these culinary treats.

There are plenty of ways to save on eating, such as purchasing meals at restaurants and food stalls that cater to the local community. You also cut down on costs by buying food from supermarkets and preparing some of your meals on your own.

Lastly, cut down on the alcohol consumption. These pricey add-ons will weigh down your budget.

Create a Honeymoon Fund

If you do not want to dig into your savings for your trip, consider creating a honeymoon registry for your wedding guests. This will allow your friends and family to contribute to your future excursion by sponsoring certain aspects of your trip.

A good practice is to write a note on your wedding website or registry explaining what inspired your desired destination. This can help your guests feel like they are helping you to achieve something important to you.

Just like a registry for physical items, break up the opportunities to contribute into specific buckets for flights, meals, lodging, and attractions. This will give your guests the satisfaction of knowing exactly what their gifts are being used for, and how they directly contributed to your enjoyment.

Conclusion: Good Financial Practices

Honeymoons can serve as a wonderful opportunity to spend some time with your partner, creating shared experiences and memories. However, you do not need to wreck your finances in order to have a meaningful time together.

Like any financial goal, make sure to define the type of experience that you jointly want to create. As you start to plan, make sure that you have the means to match your expenses.

Budgeting is the art of balancing your income with your costs. This will be true throughout all aspects of your life. Your honeymoon is no exception.

Learn money management, and use data-driven stock insights with TipRanks.

Trending

Name
Price
Price Change
S&P 500
Dow Jones
Nasdaq 100
Bitcoin

Popular Articles