honeymoon registry


Financing your honeymoon

This entry is from our Expert Guest series where wedding and honeymoon professionals share their best tips on creating memories that last a lifetime.

In today’s Pinterest and Instagram-influenced world, a happily ever after comes with a hefty price. The couples of today demand a wedding that is swoon-worthy and a honeymoon that is drool-worthy.

If you are among the lucky few who have their finances sorted out for your elaborate honeymoon, this article is not for you. However, if you are someone whose honeymoon budget is dwindling after an extravagant wedding, you must read on to know how you can finance your honeymoon without breaking the bank:

Going on your honeymoon

Tip To Finance Your Honeymoon

1. Apply for a Wedding Loan or a Line of Credit

A personal line of credit allows you to draw out only what you need at the time. It has a higher credit limit and a lower interest rate than other types of loans, which makes it an attractive solution for financing your honeymoon.

Pro Tip: Before you apply for a personal line of credit for marriage or to plan a honeymoon, be certain that you can comfortably repay the borrowed amount through monthly installments. 

Choose the best credit card

2. Choose Travel Rewards Credit Cards and Maximize the Rewards Points You Earn

A credit card can be a good place to accumulate reward points and then use them to pay for your honeymoon trip. However, to make sure that your credit card earns enough rewards points that can actually help you to pay for your airfare or hotel stay, follow these tips:

  • Research and choose the best credit card that serves your needs.
  • Swipe your credit card to make as many wedding purchases as possible.

Pro Tip: This credit card strategy will only work if you are committed to paying the borrowed amount in full each month. Otherwise, it will backfire to pull you in the vicious cycle of debt.

3. Create Honeymoon Registries

A honeymoon registry is a popular alternative to traditional gifting and also one of the best money saving tips to plan a perfect honeymoon.  A honeymoon registry works on the same concept as a wedding registry.

It is a fully fundable wish list that you ask your guests to fund. You can include items like these in your honeymoon registry:

  • Couple activities, such as couple massages or tours
  • Luxurious experiences, such as a private dinner or an exclusive chartered hot air balloon experience
  • Travel expenses, such as a car or hotel rentals
  • Some little things needed on the trip, such as books, toiletries, etc.

Pro Tip: Enroll in a free or low-cost honeymoon registry that also offers complimentary plans.  Websites like Honeyfund.com allows guests to fund for specific expenses or activities on your trip.

Save for your honeymoon

4, Start a Honeymoon Savings Fund

Open an account to contribute towards your honeymoon fund. Keep aside a fixed, manageable monthly amount to put in your honeymoon savings fund. If required, set up a recurring transfer to ensure your saving plan doesn’t fall flat because you forgot to keep aside the money.

Pro Tip: It’s important that every couple has an emergency savings fund, a personal savings fund, and a retirement savings fund.

 

5. Ask Your Close Friends and Family

Your close friends and family are the best people to ask. If you are embarrassed to ask outright, drop hints. If that doesn’t work, you may as well just ask bluntly.

Mention that you are saving up for a truly unique trip, and whatever monetary help they can render is always welcome. They might understand and make generous contributions.

 

Author bio:

Shiv Nanda - MoneyTapShiv Nanda is a financial analyst who currently lives in Bangalore (refusing to acknowledge the name change) and works with  MoneyTap, India’s first app-based credit-line. Shiv is a true finance geek, and his friends love that. They always rely on him for advice on their investment choices, budgeting skills, personal financial matters and when they want to get a loan. He has made it his life’s mission to help and educate people on various financial topics, so email him your questions at shiv@moneytap.com.

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Wedding gifts without the guests

This entry is from our Expert Guest series where wedding and honeymoon professionals share their best tips on creating memories that last a lifetime….

A new trend is approaching. With tiny homes, banking on our phones, and self-driving vehicles, there could also be a new way of looking at a traditional wedding. Brides and grooms will be realizing that for the average cost of a wedding they could put a down payment on a home. It doesn’t make sense to start your married life in debt for one night in a room full of people you kind of know. Life can be a debt free adventure!

High costs of attending a wedding

The High Cost Of Weddings Extend to Guests

It’s not only the Bride and Groom who incur the financial expense of a wedding. When guests are invited to a wedding, they not only spend money on a gift but on clothing, lodging, meals, and travel expenses in most cases. Brides.com reported that “a non-wedding party guest pays an average of $628 for a close family member or friend’s wedding. To celebrate with distant relatives and acquaintances, the number drops down to $372.” The Knot assessed the costs as being even higher ($888) when considering the cost of a gift, travel expenses, related wedding festivities, and wedding-appropriate outfits. Those in the wedding might spend more than $1,154. For destination weddings, the cost rises for everyone.

My daughter’s wedding was near her home in San Diego, CA. But only a handful of the 125 guests actually lived in San Diego. San Diego in the summer is prime time for the hotel industry. It also was on a Friday which meant at least one day of loss of pay or vacation time for many.

The elopement alternative

Elopement – An Alternative To Traditional Weddings

There always be a place for traditional wedding that includes ballrooms, a fine meal, DJs, and dancing. But an elopement is an alternative that is an intimate expression of the love and commitment to each other. How special it is to make the focus to be on each other and not an old roommate or crazy Aunt Mary. It’s also is cost effective. I believe that even though an elopement is a private occasion, I think your loved ones can be included too.

Let guests particpate by video

You might send an announcement of the wedding taking place rather than invitation to a wedding. Or invite them to a digital wedding. Take pictures and post them on the website created with Wedding Wire or the Knot. Let them follow your travels with pictures and videos while you are away. How about live streaming the wedding and the guests are attending from the comfort of the room and living room?

Dream Your Dream With A Destination Wedding

Maybe you live in the desert and always dreamed of having a wedding in the mountains? Or maybe you live in the mountains and dream of having a wedding on the beach? Maybe you’d like to get married on the edge of the Grand Canyon or on a glacier. Doing without a large crowd makes fulfilling your dream more feasible.

When you return, a handwritten thank you note with a small trinket from your trip would be a nice way to include your virtual guests connected to your exotic wedding. With the money you save on a nontraditional wedding you now will use to start your future. Family and friends are sure to be happy to be included in that celebration.

Use wedding gifts to buy your first home

What About Wedding Gifts?

When you use this creative way for your loved ones to celebrate with you, there will still be people who want to honor your union with a gift. You might still use a traditional wedding registry, but cash gits allow you to buy what you need for your wedding and honeymoon, your lifestyle, and your future home purchase. By using a Honeyfund honeymoon registry, you can maximize the perfect opportunity to keep even the simplest wedding on budget and even more exciting and fun.

Enjoy your beach wedding

Bio: With Beachside Memories you can have an intimate and romantic day to fit your personality without all the work. You can trust that every detail of your beach wedding ceremony will be taken care of with our personalized attention. We provide decor packages and beach wedding planning with personalized attention. A unique mobile venue, where you choose the location and we’ll make your wedding ceremony a hassle-free memory you’ll never forget!

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