How Much Does the Average Honeymoon Cost?

Mar 30, 2022

How Much Does The Average Honeymoon Cost?

The wedding bells have rung, and the reception is over. Now, it is time for your ultimate get-away together, your honeymoon.
Very rarely are these plain Jane. Instead, all the bells and whistles include heading to an exotic island for a romantic experience or setting out into the wilderness to relax with nature. It’s all personal preference.
But before you plan your first trip as a married couple, do you have a budgeted or projected spend? Or do you have an idea of what the average honeymoon costs today?
The dollars can add up quickly, but your dream escape can turn into a stress-free adventure by knowing how much to save or invest ahead of time.

How a Honeymoon Compares to an Average Vacation

Let’s be upfront; a honeymoon is not a vacation.
Honeymoons have a history dating back to Babylonian times when it was tradition for the father of the bride to provide a fermented drink, known as mead, for a month following the wedding.
Tradition has evolved since then. Now, honeymoons are a way to escape, relax, and reduce the pressure built up while preparing for the big day. It’s also the first time a married couple can experience being alone as newlyweds.

The Cost of a Honeymoon: What to Expect

Lesson number one, enjoy your great escape without the added debt. You’ll need to plan, budget, and save ahead of time to be successful here.
Statistics show that the average cost of a honeymoon ranges from $2,200 when traveling by car and $4,800 when traveling by airplane. This is in addition to the costs already paid for the wedding and reception.

Who is Responsible to Pay?

Traditionally, the groom's family has fronted the cost of a honeymoon. But not every couple, nor their families, follow tradition.
Today, it’s more about personal preference.

What Influences the Cost of a Honeymoon?

Here are some questions to think about:
  1. Where do you plan to go on your honeymoon?
  2. When do you plan to visit? This is specific to the time of year.
  3. What do you want to experience?
  4. How long will you be away?
  5. Where will you stay?
Your responses to these questions dictate the costs you’ll be responsible for to make your honeymoon spring to life.

Location Matters

Where you live and where you want to visit influence the price tag of your honeymoon. The farther you travel, the more expensive the transportation costs will be.
Think about it. Are you seeking international travel? Remember, you’ll need a passport. If you don’t have one, this will cost an additional $130 for a passport book or $30 for a passport card, dependent on which is accepted by the country you are visiting.
Looking to cut down the costs? Here are some ideas:
  • Consider a road trip. This is an economical way to spend time with your loved one and mark off points of interest from your bucket list.
  • Find a local retreat, or even consider a staycation.

'Tis the Season

If you want to save money, be strategic. Book your honeymoon during an offseason. Peak season means higher costs, plus bigger crowds.
Holidays, school breaks, and the summer are peak season timeframes. This means if the timing is planned just right, you may be paying half the cost during an offseason week than that of someone traveling during peak season.
Check your destination for:
  • Weather patterns. Are you ok with a little rain here and there?
  • Local events. Is there a big race about to be held that could drive traffic where you want to go?
  • Seasonality. Don’t base it on where you live, but on your destinations.
Here’s an example. Let’s say your honeymoon will be in the mountains of Colorado. If you aren’t planning to ski or snowboard but enjoy the scenic view, then it’s best to avoid the winter season where the snow is falling, and the tourists are piling in.

All the Amenities to Choose From

Once you get to your destination, what do you want to do? This is where the costs can surge.
Jot down all of the experiences you’d like to have. Maybe while visiting the beach, you’d like to snorkel with the stingrays, or you want to go on a safari while visiting Africa.
The point of your honeymoon is to have fun, but remember to be realistic too. And as hard as it is, don’t go over budget.
Staying at a timeshare, a house, or another location that has a kitchen? Here’s a tip: consider buying your own groceries instead of eating out all the time to save money.

Length of the Trip

The longer the trip, the more it will cost. This is primarily due to where you are staying since you’ll need a roof over your head overnight.
On average, couples go on their honeymoon for seven to 12 days.
Mini-Moons, a Secondary Option for Escape
Mini-moons are growing popular. They are exactly as the title implies, a shortened honeymoon.
There are many who want to get away after the wedding but don’t have the budget or the time available to stretch it out to a week or more. Mini-moons are the perfect solution.
Making a mini-moon successful depends on the location you decide to visit. There’s not as much time allotted to hike mountains or jump the Hawaiian Islands. But there’s plenty of enough time to stop, breathe, and enjoy the views of a mountain retreat or the gardens of a castle overseas.

Accommodations

Are you doing the balancing act between renting a room at a hotel and renting a house? It’s just the two of you. You probably want to feel like royalty during your stay, too.
There’s no right or wrong option. Go price shopping to find the best deal. You may find a beautiful house at the same price as a hotel with similar amenities to enjoy.

Ready To Go? Here Are Tips on How To Save

You don’t need to think that getting a loan to cover the costs is your first option. You may already have one from the wedding that you are paying off.
That’s why we want to take you through some money-saving tips to get you started off as newlyweds properly.

Set-up a Budget

This is a common trend for saving money for any material cost, including a honeymoon. But it works as long as you adhere to it.
If you have a budget in place, you are already a step ahead. If you don’t, let’s build one. Here’s how:
  1. Start with your income or cash coming in.
  2. Offset your income with your fixed expenses, such as your monthly rent or mortgage, loans, and utilities.
  3. Next, include your variable expenses. These are costs that fluctuate each month, such as for clothing or entertainment.
What does your bottom line look like? Are you in a surplus or deficit position?
You may need to review your budget and make alterations to get yourself in a position where you can put money aside. For example, that $5.00 cup of coffee every day adds up.
Discipline yourself and prepare coffee at home as an alternative. Then, allocate your $5.00 to your savings account instead and watch it grow.

Honeymoon Savings Funds

After your budget is solidified, it’s time to set up a savings account. This one is dedicated to your honeymoon (how exciting).
Browse financial institutions, looking for the best interest rate and the lowest monthly fees. You want your money to go to work for you, not for it to disappear into the bank’s hands slowly.
Also, after opening the account, commit to routine deposits. Allocate a percentage of your paycheck through the use of the direct deposit. Out of sight, out of mind is a powerful saying that also shows results.

Honeymoon Registry

Registries are a fun way to get your family and friends involved in your celebration. They are available for all types of events, including weddings, welcoming a new baby, housewarming gifts, and even honeymoons.
You can include a wide range of options on your registry, such as:
  • Toiletries
  • Clothing
  • Guided activities, or other types of excursions
  • Couples massage
  • Donations towards travel expenses (rental car, hotel stay, airfare, or even groceries)
Honeymoon registries are a great alternative to asking a friend or family member directly for help with paying for your trip.

Credit Card Rewards

Do you have any credit cards that earn rewards on your purchase, whether it’s points for a future stay, points towards future travel, or, more importantly, cashback features?
We aren’t telling you to go out and get one if you don’t have one, nor are we suggesting that you rack up debt to reap the rewards offered. Instead, check the balance of your rewards before you book.
You may already be entitled to a free flight, hotel stay, or both. Use those to your advantage to offset the costs of your honeymoon.

The Bottom Line

Wedding planning is exhausting, both financially and mentally. But it’s worth it. Plus, you can look forward to a first-time, relaxing vacation with your significant other afterward on your honeymoon.
LifeGoal Investments is here to meet the real-life needs of people. This ranges from planning a vacation to saving for retirement.
Visit LifeGoal Investments to learn more about exchange-traded funds and how you can incorporate them into your portfolio today. ETFs hold a secret, and that secret is time. Take advantage of slow growth today, simplifying investing in a few simple steps.
 
 
Sources:
This Is The Average Cost of a Honeymoon Today
United States: average cost of honeymoon | Statista
6 Ways to Plan a Honeymoon on a Budget | Discover
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