Home Holidays & Travelling How Much to Budget for Your Dream Honeymoon • The Blonde Abroad

How Much to Budget for Your Dream Honeymoon • The Blonde Abroad

by kyngsam


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

Given what’s occurred this yr, the way forward for journey is a sizzling subject. My finest recommendation (proper now) is to give attention to budgeting for the longer term and saving up for those dream trips.

For Meyer and I, our dream journeys look a bit of completely different proper now — we’re planning our destination wedding and honeymoon!

Each of these journeys include a LOT of related prices so chatting about our funds and going over funds has turn out to be an everyday, sizzling subject at house.

It’s rather a lot to tackle suddenly.

As a way to restrict the stress monetary burdens can convey on, we now have actively been going over funds and budgeting collectively. That is serving to us plan for the longer term, 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 funds for a part of the journey, and splurging often on luxurious properties)—together with delving into culturally immersive experiences, we’ve estimated a funds of $2,000 USD per week, totaling round $6,000 USD for your entire journey.

Inquisitive about how a lot to funds in your dream honeymoon?

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

Choose The place You Need  to Go

For us, our splendid honeymoon can be extra of an journey than a soothing trip. As a lot as we love the concept of a super-luxury-do-nothing honeymoon, we now have 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 contemporary eyes.

The great 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 think about when selecting the place to go in your honeymoon:

Sort of Journey

In terms of choosing a vacation spot—speak to your associate about what sort of honeymoon you each envision. Do you need to primarily hang around on the seashore and relax somewhere tropical? Would you like it to be a extra adventurous tour with numerous mountain climbing? Or would you wish to discover a number of cities and have a culturally immersive expertise?

In the event you’re seeking to have an excellent mixture of all this stuff—maintain that in thoughts when selecting your vacation spot.

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

Change Price

Take into account locations the place you may have a powerful change fee and your cash will go additional to get probably the most bang in your buck! For instance, locations like India, South Africa, and Indonesia provide unbelievable alternatives to each save and splurge and get an incredible change fee in your cash.

Listed below are extra strategies on the place to travel while the US dollar is strong.

Value 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 in the case of vacationer points of interest or positive eating.

Nonetheless, in different locations—like Paris, for instance—most of our funds would go towards actions and positive eating. So think about the place you’re going and what the highlights of that exact journey may be.

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 typical worth of flights—try my travel resources web page for my go-to apps to trace flight costs.

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 perhaps to do a little bit of scuba diving?

Perhaps you’d choose to spend nearly all of your time on the seashore, or maybe you’d wish to take a cooking class like studying how to prepare a classic Italian meal while in Rome.

Have a chat about what sort of belongings you need to do and what your priorities are!

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 identical rules go for planning your honeymoon. The secret is to prioritize what’s most necessary as a pair so you recognize the place to spend and the place it can save you.

Take into account the primary variables talked about above — lodging, foods and drinks, actions and experiences — and individually fee every of these things from 1-3 (1 being an important). If every of you do that from the beginning, it should open a dialogue for the place you’ll count on to spend most of your funds.

For Instance:

  • Meals and Drink: 2
  • Excursions + Experiences: 3 (would quite save right here)
  • Lodging: 1 (would quite splurge right here)

It will assist decide the place you’d wish to spend extra of your honeymoon funds and the place you may reduce.

Assume your fastened prices (transportation — flights and such to get there and transportation when you’ve arrived) is a sure proportion of your funds. In the event you can roughly estimate what these prices are…

What’s most necessary to you with what’s left over?

No matter funds you’ve estimated — whether or not it’s $5,000 or $15,000 — the rules stay the identical: determine every of your priorities after which you may divvy it up accordingly.

Save and Funds Utilizing YNAB

Issues have been a bit of loopy financially for us since we simply moved from South Africa to California. Throw in shopping for my first house together with the journey trade being fairly risky in the meanwhile…

it’s a monetary curler coaster.

Meyer and I began utilizing You Want a Funds to plan out our funds, funds for sure issues (vacation spot wedding ceremony, mortgage, honeymoon), and plan for the longer term, and it’s been a gamechanger.

YNAB teaches 4 easy guidelines that present you the best way to cease residing paycheck-to-paycheck, get out of debt, and save more cash in an effort to spend it on the issues that matter most to you.

We’re utilizing YNAB to provide you with a spending plan and to create a particular financial savings fund for quite a few issues, like our wedding ceremony and honeymoon.

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

YNAB affords free video training and reside workshops. The most effective half is you may join a free 34-day trial (no bank card required) to see if it could be an excellent match in your way of life!

Budgeting Software

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

Budgeting Software

Come Up With a Spending Plan + Honeymoon Funds

Even when you don’t have *actual* figures for issues, you may analysis ballpark estimates and/or determine how a lot you’re budgeting per day of your honeymoon.

I actually like utilizing YNAB’s Four Rules to assist determine the best way to prioritize and funds efficiently:

  • Give Each Greenback a Job — Know precisely the way you need to spend the cash you may have obtainable 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 — Determine what you actually spend and deal with these rare bills (like annual automobile registration, insurance coverage each 6 months, or changing your cellphone each few years) like month-to-month bills in your month-to-month funds. Breaking massive or unusual bills down means you gained’t be shocked by them afterward!
  • Roll With the Punches — Settle for that issues change and your funds needs to be versatile. You gained’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 incorrect, it means you might be really budgeting!
  • Age Your Cash — Break the paycheck-to-paycheck cycle by aiming to succeed in 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.

Create a Honeyfund

Since we’re doing a destination wedding, we’re asking for folk to not give us items. We understand the associated fee and expense it takes to journey the world over for a vacation spot wedding ceremony and we’re so grateful simply to have our family members be there for the large day.

Nonetheless, for most people, making a honeyfund as a part of your registry is an effective way to assist cowl a few of the bills of the honeymoon.

Whereas some of us would possibly 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 on) and company can contribute to these.

Create an Itinerary with a Journey Guide

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 need to do and see, we’re planning on working with an area journey planner to create the itinerary.

I worth knowledgeable recommendation in the case of attending to and from locations and determining the place it’s okay to chop again on our funds and the place we should always splurge.

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

Nonetheless, when you’re choosing a spot the place there are tons of journey articles and user-based strategies and you might be savvy with creating your individual itinerary, this isn’t a vital factor!

It actually depends upon the vacation spot and when you get pleasure from planning your self or not.

However, when you can put aside a portion of your funds to plan with a journey planner, they are going to doubtless have the ability to offer you some actually good steering.

Travel Fund

Set Apart a Sure Quantity Per Month

So, how are we going about saving cash?

Setting apart a specific amount per 30 days and breaking down that massive sum into smaller elements is KEY. The quantity doesn’t appear as overwhelming and far more tangible that means.

We gave ourselves a yr to plan and the objective 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!

Determine your month-to-month bills and see the place there may be a bit of wiggle room. You may alter the quantity to suit your revenue and funds, together with the time you must save. All of those little issues will add up over time!

Methods to Save on Your Honeymoon

I’m all about stretching my {dollars} so far as potential! There are a couple of key methods to make your cash go farther and get probably the most bang in 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 doubtless 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 instances and I feel this is likely one of the finest methods to get probably the most out of your journey. Combine up your lodging and keep at some funds properties after which splurge on some very nice locations. The identical goes for meals—you may combine road meals with positive eating.

Go for Locations with a Sturdy Change Price

I discussed earlier about choosing locations with a powerful change fee. You may actually stretch your {dollars} by doing this. Listed below are my strategies on the place to travel while the US dollar is strong.

Take Benefit of Free Issues To Do

Do your analysis or speak to a journey advisor about free issues to do. Loads 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 numerous journey purchases, have you ever thought of getting a travel rewards credit 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 offers you 5x the factors to the greenback on journey purchases — so you may rack up factors fairly rapidly (particularly when you join a brand new card and earn the bonus).

Utilizing bank card factors in direction of flights might be an effective way to convey down the price of transportation, too! Right here’s my beginner’s guide to earning points and miles!

What ideas do you may have in the case of budgeting in your honeymoon? Let me know within the feedback under!

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