What Is a Honeymoon Worth to You? Here's How To Avoid Overpaying

young couple having a vacation on beach

2.4 million couples wed every year in the United States.

If your wedding is fast approaching, it’s clear you won’t be the only one walking down the aisle. And if you’re anything like most of these couples, you certainly don’t plan to go back to your normal life after exchanging nuptials and officially becoming husband and wife. You have a honeymoon coming right after.

But what is a honeymoon worth to you? How much do you plan to splurge?

As a fresh couple, you don’t want to begin your marriage on the wrong financial footing. Yet, this is what will likely happen if you end up overspending during the honeymoon.

Need tips to help you stay within budget? Keep reading!

How Much Are Couples Spending?

Before we dig into how to avoid overspending, let’s create some context.

The average couple spends between $4,000 and $5,000 on a honeymoon that lasts between 7 and 9 days. This is about 15 percent of the entire wedding budget.

It’s important to note that these figures are mere averages. There are couples who go all out and spend well beyond $10,000. There are also others who spend less than the national average.

It all depends on your financial situation. If money isn’t a problem for you, you’re free to spend big. But if you’re like most couples, you need to keep an eye on your spending.

Create a Budget

You have a wedding budget, right? You also need one for your honeymoon.

Ideally, you should create your honeymoon budget when creating the entire wedding budget. Don’t just include the honeymoon as an expense in your wedding budget.

Creating this budget way ahead of time gives you adequate time to research and find the destinations that suit your financial range. Some couples end up making impulsive decisions at the last minute just because they didn’t plan in advance.

That being said, it’s one thing to create a honeymoon budget, and it’s quite another to actually stick to it.

We get it. A honeymoon is a happy time. You want to explore and experience new places, so the temptation to go out of the plan is expected.

However, when your goal is to not overspend, you have no choice but stick to the budget. If you’re tempted to visit a place or pay for something that wasn’t in the budget, remind yourself that you can always visit the place in the future.

Figure Out the Best Way to Fund Your Wedding

There are a couple of ways to fund your honeymoon. The best way is to save for it, but this might not be possible if your finances are tight.

You could go in for a personal loan, but be careful about using credit to finance a honeymoon. If you don’t have a good repayment plan, you might end up in a debt cycle.  

On that note, if you already have multiple loans, did you know you can consolidate them and get a cheaper rate? A service like Debthunch can help you find a suitable consolidation loan.

What Is a Honeymoon Worth to You?

So, what is a honeymoon worth to you?

In short, it all depends on the state of your finances. You could go all out and splurge if you have the means, but if you don’t want to overspend, create a budget and stick to it. It’s that simple!

Keep reading our blog for more tips and hacks.

 

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