If you are getting married, a survey of 2,000 newlyweds suggests you may be more excited about your honeymoon than the wedding itself!
- 67% look forward to the honeymoon MORE than the wedding.
- 84% would skimp on their wedding if it meant a fancier honeymoon
CNN Money found the average wedding costs $28K. When you consider many newlyweds are early in their careers where salaries aren’t as high as they one day will be, it’s no surprise many feel they may need to scale back on their honeymoon.
Truth is... you don’t need to toss your budget out the window to have a dream honeymoon, nor do you need to skimp on your wedding to make it economical.
CLICK HERE to see me on Breakfast TV discussing ways to have a Dream Honeymoon that doesn’t break the bank, or read on for extra details below:
Agreeing on a Destination
A fun way to narrow your list of honeymoon destinations is to have your
fiancé and yourself try this Honeymoon & Romantic Survey and share your results. The survey suggests honeymoon destinations that align to your travel type.
Wedding registries were traditionally used to help newlyweds settle into their new home. Today, couples live together long before they get married, and already have pots, pans, toasters and blenders.
Instead, use your registry to fund your honeymoon. Honeyfund.com for example is a crowdfunding platform specializing in honeymoons and you might have seen this website on Shark Tank where Shark Kevin O’Leary invested in the company.
What's great about Honey Fund is that it enables you to extend your reach beyond your wedding party to everyone in your social network. Their biggest success story comes from a Chicago couple who funded a full year trip-around-the-world for their honeymoon.
There is no charge to setup a basic crowdfunding profile, but you can add some bells and whistles to your profile for a small fee. Honey Fund retains a small percentage of the donations made a service fee which is how they make their money. (Of course, if Kevin O’Leary is investing, they must be making money).
In Canada, you can setup a honeymoon registry with FlightCentre.ca you can use toward a Flight Centre vacation (Click here for registry details). People can donate to your registry online, by phone, and at any Flight Centre store:
Inexpensive 5-Star Resorts
When it comes to destinations, this Price of Travel survey ranked the top 100+ cities with the least expensive 5-star resorts, and ranked Bali, Indonesia at the top of the list. With lavish 5-star resorts available for as little at $24/night U.S. Bali is a place where you can have 5-star accommodations on a 2-star budget.
Consider Low Currency Countries
Whatever you want to get out of your honeymoon, look for destinations that offer those things in low currency countries.
Let’s say you want to go to the tropics, much of the Caribbean is pegged to the U.S. dollar. Alternatively, South East Asia has just as amazing tropical islands and counties there have the lowest valued currencies of any place you will visit in the world. In Vietnam, the U.S. dollar will earn you 15K Vietnamese Dong which has miles of white sandy beaches and rock formations similar to those you will find in Thailand.
For more ways to stretch your travel dollar in low currency countries, CLICK HERE to see me share my favorite Inexpensive Alternatives to Top U.S. Travel Destinations on Breakfast TV.
Leverage your Wedding Costs to Fund your Honeymoon
I often preach you can multiply your savings by using leverage. So what can newlyweds leverage? The cost of the wedding of course! Some online retailers offer big time travel points (as many as 15 points per dollar spent) to lure you from brick-and-mortar stores. You can buy almost anything you need for a wedding online from rings, dresses, invitations, photo albums and even flowers.
To see which online stores have the best promotions, you can browse point promotions at EVreward.com:
This is how I learned that a few times a year, shop.ca offers 15 Aeroplan points per dollar spent:
By purchasing 10K of wedding expenses during this promotion, you will earn 150K points, enough for two economy round trip tickets anywhere in the world. Shop.ca does not announce these promotions in advance, so the best way to keep current is to sign up to their newsletter, and you will get an email notifying you of every promotion.
Credit Card Travel Benefits
All travel is booked online so you have to have a credit card. Since major travel operators all partner with credit cards that offer travel benefits, you can use these benefits offset your honeymoon expenses.
My favorite credit card benefit for honeymooners is the Companion Pass that entitles you to bring a guest with you on one a round-trip flight every year. Terms and conditions vary by card, but the companion pass generally requires you to pay a fixed rate to redeem it, it usually only applies to economy fares, and does not cover surcharges or taxes.
Cards with Companion Pass Benefits:
- The Delta SkyMiles Platinum and Reserve cards (U.S.) have a hefty $195 annual fee, but come with a plethora of travel benefits including a free annual companion pass, free checked bag, priority boarding and discounts on in-flight purchases.
- Alaska Airlines has credit cards with Visa (U.S.) and MBNA (Canada) come with an annual companion pass you can redeem for $121.
- Westjet RBC World Elite Master Card (Canada): Companion fare varies from $99 in Canada and Continental U.S. to $399 to for London.
- Lufthansa Premier Miles & More Barclaycard Mastercard (U.S): comes with an annual companion pass benefit for round-trip flights crossing the Atlantic. A weekend surcharge fee may apply. CLICK HERE for full details.
For more information about credit card travel benefits, CLICK HERE and scroll down to ‘Credit Card Sign-Up Bonuses.’
Take a moment to think about what you are willing to compromise, so you don’t need to skimp on what you want most. In other words, pinch your budget where it doesn’t hurt, so that you don’t need to pinch it where it does.
Finally – Don’t forget to mention it’s your honeymoon! People tend to soften up when they know it’s your honeymoon, and you might just return to your room to find a complimentary bottle of bubbly and chocolates.
CLICK HERE to see me on Breakfast TV in Montreal discussing ways to have a Dream Honey Moon that Doesn’t Break the Bank:
Once feeling unable to afford to travel, Russell Hannon uses lean principles to travel at a fraction of the going rate. He has been featured on CNBC, FOX, America Tonight, CBS, CTV, CBC, the National Post, Around the World Travel TV and nationally broadcast lifestyle and personal finance shows.
He is also the author of amazon.ca Budget Travel #1 Best Seller ‘Stop Dreaming Start Traveling: The Ultimate Guide to Traveling More & Spending Less' available at stopdreamingstarttraveling.com
FREE GUIDE: Download 'Beat the Best Online Fare - Every Time, Every Flight' at breakthetravelbarrier.com.