How A lot to Funds for Your Dream Honeymoon

This publish was written in partnership with You Want A Funds — as all the time, ideas and opinions expressed listed below are solely my very own.

Given what’s occurred this yr, the way forward for journey is a scorching subject. My finest recommendation (proper now) is to concentrate on budgeting for the long run and saving up for these dream journeys.

For Meyer and I, our dream journeys look slightly completely different proper now — we’re planning our vacation spot marriage ceremony and honeymoon!

Each of these journeys include a LOT of related prices so chatting about our finances and going over funds has change into an everyday, scorching subject at house.

It’s loads to tackle all of sudden.

As a way to restrict the stress monetary burdens can carry on, we’ve actively been going over funds and budgeting collectively. That is serving to us plan for the long run, and finally make journeys—like our dream honeymoon!—come to fruition.

For our honeymoon, we’re planning on exploring India for 3 weeks!

With a “high-low” strategy to the journey (a mixture of touring on a finances for a part of the journey, and splurging often on luxurious properties)—together with delving into culturally immersive experiences, we’ve estimated a finances of $2,000 USD per week, totaling round $6,000 USD for the complete journey.

Inquisitive about how a lot to finances on your dream honeymoon?

Right here’s how we’re budgeting for our honeymoon with the assistance of YNAB (You Need A Budget)!

TBA Post

Decide The place You Need  to Go

For us, our superb honeymoon can be extra of an journey than a calming trip. As a lot as we love the concept of a super-luxury-do-nothing honeymoon, we’ve had these experiences earlier than and need one thing completely different.

So, for our honeymoon, we picked India as a result of it’s a vacation spot that neither of us has explored earlier than and we will expertise along with recent eyes.

The fantastic thing about India for a honeymoon is that, as a result of we’re each well-traveled, we’re excited to spend a part of our honeymoon diving into the native tradition. We’ll avoid wasting cash and do extra budget-friendly and native experiences the place we will actually immerse ourselves within the vacation spot.

Right here are some things to contemplate when selecting the place to go on your honeymoon:

Kind of Journey

With regards to selecting a vacation spot—speak to your companion about what sort of honeymoon you each envision. Do you wish to primarily hang around on the seashore and loosen up someplace tropical? Would you like it to be a extra adventurous tour with a lot of mountain climbing? Or would you prefer to discover a number of cities and have a culturally immersive expertise?

Should you’re seeking to have a great mixture of all this stuff—maintain that in thoughts when selecting your vacation spot.

Listed below are a number of honeymoon concepts to get you began:

Alternate Price

Take into account locations the place you may have a robust change charge and your cash will go additional to get essentially the most bang on your buck! For instance, locations like India, South Africa, and Indonesia provide unbelievable alternatives to each save and splurge and get an amazing change charge on your cash.

Listed below are extra options on the place to journey whereas the US greenback is powerful.

Price of Vacation spot

Issue within the prices of the vacation spot. For us, India is a spot we don’t see ourselves spending a ton relating to vacationer points of interest or nice eating.

Nevertheless, in different locations—like Paris, for instance—most of our finances would go towards actions and nice eating. So take into account the place you’re going and what the highlights of that individual journey is perhaps.

On prime of this, how far is it to journey to the vacation spot and what are the flight costs like? You are able to do a preliminary search to determine the common value of flights—try my journey assets web page for my go-to apps to trace flight costs.

TBA Post

Determine How Much to Spend

Once you’ve figured out where you want to go, you’ve got to figure out what the other costs will be.

I read that the average couple spends about $5,000 USD on their honeymoon. But it’s SO hard to determine an “average” price. Every couple is different! So, I’ve broken down some key factors that play a big part in determining your own budget!

Length of the Trip

How long are you planning on going? Average honeymoons are usually anywhere from 8-14 days, though some people take a whole month. Figure out what works for you and your partner as this will significantly play into the budget.

As India is so expansive and we’ve never been before, we decided that three weeks would be the ideal length of time for us to explore and see the main highlights. We know ourselves and we are always so excited to explore that it’s hard to relax and ‘do nothing.’ So we’re setting aside about 1/3 of the trip just for a little luxury and romance!

Accommodation

Personally, one of my favorite things about traveling is staying at really cool accommodations. Going with the “high-low” approach to travel, we’ll stay at both mid-range accommodations and guest homes and then splurge on a few incredible luxury properties.

Meals + Activities

I love trying the local cuisine and I’m a big fan of going on food tours while traveling. Are you planning on doing a lot of fine dining or sampling the street food? If you’re staying in an Airbnb—you may have a kitchen to cook for yourself part of the time.

Consider how often you plan on eating out — whether that’s street food or local restaurants — and what your expectations are for this.

In addition to meals, what kind of experiences and activities do you want to do on your honeymoon? Would you like guided tours of local highlights, to go on an animal encounter, or maybe to do a bit of scuba diving?

Maybe you’d prefer to spend the majority of your time on the beach, or perhaps you’d like to take a cooking class like learning how to prepare a classic Italian meal while in Rome.

Have a chat about what kind of things you want to do and what your priorities are!

TBA Post

Figure Out Where the Money Goes

I talked a lot about creating a rating system in my previous article on How to Budget for a Trip as a Couple, and the same principles go for planning your honeymoon. The key is to prioritize what’s most important as a couple so you know where to spend and where you can save.

Consider the main variables mentioned above — accommodation, food and drink, activities and experiences — and individually rate each of these items from 1-3 (1 being the most important). If each of you do this from the start, it will open a dialogue for where you’ll expect to spend most of your budget.

For Example:

  • Food and Drink: 2
  • Tours + Experiences: 3 (would rather save here)
  • Accommodation: 1 (would rather splurge here)

This will help determine where you’d like to spend more of your honeymoon budget and where you can cut back.

Assume your fixed costs (transportation — flights and such to get there and transportation once you’ve arrived) is a certain percentage of your budget. If you can roughly estimate what those costs are…

What is most important to you with what is left over?

Whatever budget you’ve estimated — whether it’s $5,000 or $15,000 — the principles remain the same: figure out each of your priorities and then you can divvy it up accordingly.

TBA Post

Save and Budget Using YNAB

Things have been a little crazy financially for us since we just moved from South Africa to California. Throw in buying my first home along with the travel industry being quite volatile at the moment…

it’s a financial roller coaster.

Meyer and I started using You Need a Budget to plan out our finances, budget for certain things (destination wedding, mortgage, honeymoon), and plan for the future, and it’s been a gamechanger.

YNAB teaches four simple rules that show you how to stop living paycheck-to-paycheck, get out of debt, and save more money so that you can spend it on the things that matter most to you.

We’re using YNAB to give you a spending plan and to create a particular financial savings fund for quite a few issues, like our marriage ceremony and honeymoon.

First, we found out what our month-to-month bills are—mortgage, groceries, transportation, enjoyable, and so forth. Then, we plugged that into the YNAB software program to determine simply what we will put aside every month.

YNAB provides free video training and dwell workshops. The perfect half is you may join a free 34-day trial (no bank card required) to see if it could be a great match on your way of life!

Budgeting Software

It was really easy to attach our accounts and begin making a plan to determine the long run!

Budgeting Software

Come Up With a Spending Plan + Honeymoon Funds

Even for those who don’t have *precise* figures for issues, you may analysis ballpark estimates and/or work out how a lot you’re budgeting per day of your honeymoon.

I actually like utilizing YNAB’s Four Rules to assist work out methods to prioritize and finances efficiently:

  • Give Each Greenback a Job — Know precisely the way you wish to spend the cash you may have accessible earlier than you spend a dime. It will guarantee that you’ve got cash for the issues that matter most to you.
  • Embrace Your True Bills — Work out what you actually spend and deal with these rare bills (like annual automotive registration, insurance coverage each 6 months, or changing your cellphone each few years) like month-to-month bills in your month-to-month finances. Breaking huge or unusual bills down means you received’t be shocked by them afterward!
  • Roll With the Punches — Settle for that issues change and your finances must be versatile. You received’t spend the identical quantity on all classes each month, so be ready to maneuver cash round. Transferring cash round doesn’t imply you might be budgeting unsuitable, it means you might be really budgeting!
  • Age Your Cash — Break the paycheck-to-paycheck cycle by aiming to achieve the purpose of utilizing the cash you earned final month to pay this month’s bills and don’t go over that quantity! This margin will create extra peace of thoughts than you may even think about.

Begin a free 34-day trial on YNABNo bank card required.

TBA Post

Just Married Car Floralspolaroid lazyload stack

Create a Honeyfund

Since we’re doing a vacation spot marriage ceremony, we’re asking for people to not give us presents. We understand the price and expense it takes to journey the world over for a vacation spot marriage ceremony and we’re so grateful simply to have our family members be there for the massive day.

Nevertheless, for most folk, making a honeyfund as a part of your registry is a good way to assist cowl a number of the bills of the honeymoon.

Whereas some of us may see this as much less private than shopping for a tangible reward, there are a selection of registries the place you may add particular experiences (meals excursions, crusing, guided walks by way of the rainforest, and so forth) and visitors can contribute to these.

TBA Post

DSCF3371

Create an Itinerary with a Journey Advisor

I usually plan out each single a part of my journeys, however as a result of India is such uncharted territory for me and there are such a lot of issues I wish to do and see, we’re planning on working with a neighborhood journey planner to create the itinerary.

I worth skilled recommendation relating to attending to and from locations and determining the place it’s okay to chop again on our finances and the place we should always splurge.

Whereas that is an extra chunk of change, utilizing a journey planner can go a good distance towards planning your dream journey. 

Nevertheless, for those who’re choosing a spot the place there are tons of journey articles and user-based options and you might be savvy with creating your individual itinerary, this isn’t a mandatory factor!

It really relies on the vacation spot and for those who get pleasure from planning your self or not.

However, for those who can put aside a portion of your finances to plan with a journey planner, they are going to probably have the ability to offer you some actually good steerage.

TBA Post

Travel Fund

Set Apart a Sure Quantity Per Month

So, how are we going about saving cash?

Setting apart a certain quantity per 30 days and breaking down that huge sum into smaller components is KEY. The quantity doesn’t appear as overwhelming and far more tangible that method.

We gave ourselves a yr to plan and the aim was to put aside $500 per 30 days between two individuals ($250 every per 30 days).

And since we aren’t actually going to go on our honeymoon till 2023, that provides us loads of time to fill our piggy financial institution!

Work out your month-to-month bills and see the place there is perhaps slightly wiggle room. You possibly can modify the quantity to suit your earnings and finances, together with the time it’s a must to save. All of those little issues will add up over time!

TBA Post

IMG 4143 2
DSCF8323

Methods to Save on Your Honeymoon

I’m all about stretching my {dollars} so far as doable! There are a number of key methods to make your cash go farther and get essentially the most bang on your buck.

Be Versatile With Your Dates

Take into account the “shoulder seasons” of your vacation spot and touring in the course of the low season. You’ll probably discover higher offers on lodging and also you’ll additionally dodge the crowds.

Take a “Excessive Low” Strategy

I discussed the “excessive low” strategy a few occasions and I believe this is among the finest methods to get essentially the most out of your journey. Combine up your lodging and keep at some finances properties after which splurge on some very nice locations. The identical goes for meals—you may combine road meals with nice eating.

Go for Locations with a Robust Alternate Price

I discussed earlier about choosing locations with a robust change charge. You possibly can actually stretch your {dollars} by doing this. Listed below are my options on the place to journey whereas the US greenback is powerful.

Take Benefit of Free Issues To Do

Do your analysis or speak to a journey guide about free issues to do. Quite a lot of locations will provide free museum days, have native festivals to go to, or you’ll find free strolling excursions, too!

Use Journey Reward Credit score Playing cards

As you’ll be making various journey purchases, have you ever thought-about getting a journey rewards bank card? Personally, I’m an enormous believer in journey reward bank cards if you’re able to repay the stability each month.

Most playing cards provides you with 5x the factors to the greenback on journey purchases — so you may rack up factors fairly rapidly (particularly for those who join a brand new card and earn the bonus).

Utilizing bank card factors in the direction of flights may be a good way to carry down the price of transportation, too! Right here’s my newbie’s information to incomes factors and miles!

TBA Post

What suggestions do you may have relating to budgeting on your honeymoon? Let me know within the feedback beneath!

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Close Menu
Translate »