Getting married is hardly an inexpensive feat. In 2019, the average cost of a wedding was $33,900, and in 2020, couples budgeted an average of $30,000 to pull one off, according to research by The Ascent.
But there’s another expense newly married couples also need to account for — the cost of taking a honeymoon. Obviously, honeymoons aren’t mandatory, but many couples like to get away on a special trip to mark the start of a life together. Besides, after the stress of planning a wedding, a honeymoon tends to serve as a much-deserved reward.
The cost of your honeymoon will obviously hinge on a number of factors — your destination, the number of days you plan to spend away, and the things you’ll be doing on your trip. But if you’re on a budget or are already looking at a wedding loan to pay off, then you may need to approach that honeymoon frugally. Here are a few money-saving tips that could come in very handy.
1. Travel at off-peak times
There are certain periods during the year when you’re more likely to pay more for a flight or hotel than others. The summer, for example, can be a busy period for travel, and so flight and hotel fees may be inflated. Similarly, a lot of people opt to travel around the winter holidays, so it’s best to steer clear of that period. Instead, try booking your honeymoon at an off-peak time. You may want to focus on a fall trip, or a wintertime trip once the holiday season is over.
2. Rent a private home instead of a hotel
When you’re on your honeymoon, it’s natural to want to be pampered. But you might enjoy a luxury experience outside of a hotel and at a fraction of the cost.
These days, vacation home owners know that they need to step up their game to attract guests. If you do your research, you may find that you’re able to rent a spacious cabin, cute beach house, or cozy ski chalet for a lot less money than what a hotel will charge you. And, the place you rent might come with comparable amenities, from fluffy towels to high-end soaps to complimentary champagne.
3. Make the most of your credit card rewards
If you’ll be booking a flight or hotel for your honeymoon, it pays to see if you can cash in credit card rewards and minimize your spending in the process. You may, depending on the points you’ve racked up, be eligible for free flights, free hotel stays, or both.
Your honeymoon should be a memorable experience. But the last thing you want is to rack up a ton of debt in the course of taking that trip. These tips could help you pull off a honeymoon for less, but if they don’t work for you, you might consider taking a short weekend getaway after your wedding and postponing your honeymoon to a later time. That way, you’ll give yourself a chance to save up enough money to really take the trip of your dreams.
View more information: https://www.fool.com/the-ascent/credit-cards/articles/planning-a-honeymoon-3-ways-to-save/