saving for your dream
rHONEYMOON
Every couple deserves a time after their wedding to relax and begin enjoying their new lives as a married couple. However, many times, saving for that dream destination honeymoon may have been put on the backburner. But before whipping out your credit card to buy a plane ticket to the Bahamas, take a moment to assess your current financial situation.
Planning the perfect honeymoon
must start with a budget. Like
everything else in your financial life,
it is hard to plan without knowing
your current financial situation,
how much you can save for the honeymoon and how much you need to save for where you would like to go. Budgeting takes care of all of that.
Review your current budget or create a new budget that reflects your new spending goal. Decide what current flexible expenses can be trimmed or removed in order to meet your goal. While it may seem like a dealbreaker to give up your morning latte, remind yourself that the sacrifices made now will benefit you greatly down the road. Post a picture of your dream destination honeymoon location on your bathroom mirror or even in your work cubicle may make you less tempted to spend your pocket change on those little extras that provide instant gratification.
Any trip as newlyweds, but especially a Dream Destination Honeymoon, should be considered a short-term financial goal. Here are some steps to take when saving for your blissful getaway:
1. Decide how much money you will need for your trip, including the costs of air travel or gas, hotels, and food. Make sure you take non-travel costs into consideration as well. These expenses should be built into your honeymoon budget.
2. Open a dedicated savings account to reach your goal. You can do this with your bank or even through websites like SmartyPig.com.
3. Set up automated transfers. By making savings automatic, you’re more likely to succeed. You can even ask your employer to deduct a certain amount of money from each paycheck and transfer it into your savings account.
4. Put a change jar or piggy bank somewhere you and everyone else in the family can see it. When you come home from work, “donate” your spare change to the honeymoon fund.
5. Have a yard sale or sell things you no longer want online. Not only will you make money for your trip, but you’ll also clear the clutter in your home!
6. Think carefully before spending gift cash from your wedding. It’s tempting to use that money to pay for your honeymoon, but saving it for emergencies can protect you in the future. If you really want your family and friends to help with honeymoon expenses, consider an online registry. Just be sure to read the fine print and look at the fees involved.
By following these simple steps and making some short-term sacrifices, you and your spouse will be relaxing at your dream destination honeymoon location before you know it!
Planning the perfect honeymoon must start with a budget.