**Interviewer:** Congratulations on your engagement! With wedding plans coming up at the end of the year, you’re excited to head to Europe for your honeymoon. However, you’re concerned about spending a lot on the wedding, which might affect your honeymoon budget. How do you plan to save enough money for your trip?
**Expert:** One potential solution to balancing both the wedding and honeymoon expenses is to prioritize and cut unnecessary spending during the wedding planning phase, which can free up funds for the honeymoon.
Finding a life partner is a wonderful milestone, and as you prepare to embark on this new chapter, crafting your dream wedding and planning your honeymoon is thrilling. However, juggling the costs of both can indeed be challenging.
According to Fidelity, more couples today are taking on the full or partial financial responsibility for their weddings compared to previous generations.
US News has consulted with three experts who offer practical advice for managing the costs of both the wedding and honeymoon. By following their suggestions, couples can secure enough funding for their honeymoon without compromising the wedding experience.
**Expert Suggestions:**
**1. Clarify Honeymoon Priorities**
It’s essential to have an open conversation with your partner about what aspects of the honeymoon matter most.
Emily Irwin, head of Wells Fargo’s Advisory Center, emphasizes the importance of discussing priorities such as destination, accommodation, activities, and duration. Once you’ve identified these priorities, you can look for ways to save on less important aspects—perhaps opting for a package deal to keep food costs down, or choosing budget-friendly accommodations like Airbnb if the location is your main focus.
Irwin notes this approach helps focus your funds on what truly matters.
**2. Reach Out to Family and Friends for Support**
Discussing financial needs can be uncomfortable, but it’s important to be open when necessary.
A Wells Fargo Money Study found that 82% of respondents consider financial topics private, and two-thirds are reluctant to talk about money. However, Irwin stresses the need for you and your partner to openly discuss your budget and honeymoon funding plans.
There’s no shame in asking for help. Irwin suggests considering honeymoon funding as a gift option for wedding guests, allowing them to contribute towards airfare or lodging. If the honeymoon holds significant meaning, don’t hesitate to discuss this openly.
Couples might also consider using The Knot Registry to create a cash fund for their honeymoon, allowing friends and family to give cash gifts. Data shows that in 2024, 72% of couples using The Knot Registry registered for cash, with most planning to use that money for their honeymoon.
Esther Lee from The Knot explains that couples can designate how each cash gift will be used, whether for snorkeling, couples massages, or sunset cruises. The platform even allows for group contributions, where multiple people can pool together to give a larger gift.
**3. Utilize Travel Agencies**
In some cases, travel agencies can help save money on the trip. Ask friends or family for recommendations, or explore wedding planning websites for useful information.
According to Lee, travel experts can often find the best honeymoon deals and provide money-saving advice to ensure the couple has the trip of their dreams. Check out The Knot Vendor Marketplace online to find wedding suppliers and travel experts who can help plan the honeymoon.
**4. Cut Back on Expenses**
If finding extra funds for the honeymoon seems difficult, Irwin suggests reviewing your spending to identify areas where you can cut back.
People often overlook rising costs, such as monthly streaming subscriptions or overspending at stores. Taking the time to analyze your spending history can reveal quick opportunities for savings, allowing you to allocate money towards your honeymoon.
**5. Use Points or Miles for Travel Expenses**
Tiffany Funk, co-founder and president of the travel booking platform point.me, recommends that couples use rewards credit cards for all wedding-related expenses. These cards can accumulate significant points, especially those that offer bonuses for dining, travel, or grocery shopping, leading to substantial rewards over time.
**6. Start Planning the Honeymoon Early**
Funk advises couples to start planning their honeymoon as early as possible, which allows them to save up funds sooner. Certain destinations, like Tokyo, the Maldives, or Australia, are popular honeymoon spots that can book up quickly, so early planning is crucial.
According to The Knot, the average wedding costs about $30,000. Funk suggests that couples apply for credit cards that offer large sign-up bonuses. By having the right spending strategy in place six months in advance, it’s possible to earn 300,000 points or more, which can significantly fund your honeymoon.
