The Real Cost of a Honeymoon: How Much Should You Really Spend?

At Honeyfund, we’ve empowered over 1.4 million couples to create the honeymoon of their dreams, leveraging gifts from friends and family to fund their adventures. As the leading honeymoon registry, we gather insights from our community of couples continuously and always have a pulse on the latest trends and budgeting strategies. Here is the latest scoop on honeymoon costs!

Introduction: The Significance of Your First Adventure as Newlyweds

For many couples, the honeymoon is more than just a trip; it’s the start of a lifetime together. Determining the budget for this once-in-a-lifetime getaway is crucial, with costs varying significantly based on your destination. This includes expenses for accommodations, airfare, activities, and extra spending money. Let’s explore what you might expect to spend and how to effectively budget for your dream honeymoon.

The Evolution of Honeymoon Spending

Shifting Priorities: Experiences Over Extravagances

Traditionally, it’s been recommended that couples allocate 12-15% of the wedding budget to the honeymoon. However, recent trends indicate a shift: many couples are now dedicating a larger portion of their budget to the honeymoon rather than the wedding itself, with a ratio of 2:1 instead of 10:1. Our survey of Honeyfund couples found that the most common honeymoon budget is around $5,000, reflecting a preference for memorable experiences over lavish ceremonies.

Emerging Trends: Desire for Deeper Connections

Heightened Wanderlust in a Post-Pandemic World

The longing to explore the world with one’s partner has intensified, especially following the pandemic. “Couples are reconsidering where they really want to put their money,” notes Sara Margulis, CEO of Honeyfund. This shift is not just about travel—it’s about financially savvy decisions, opting for more intimate weddings to free up funds for dream honeymoons. More and more couples are prioritizing experiences over things, increasing their spending on experiences by 65% from 2019 to 2023 in the United States, according to Mastercard’s Travel Industry Trends Report.

Budgeting for Your Dream Honeymoon

Maximizing Your Investment in Memories

Your honeymoon budget will largely depend on your destination. Flights and accommodations typically take up the largest portion of a honeymoon budget, but this can vary. For instance, traveling to distant locations like Thailand might have higher airfare, but surprisingly more affordable accommodations. Our survey found that many couples opt for upgrades like enhanced hotel rooms and exceptional dining experiences to make their honeymoon uniquely special.

Funding Your Honeymoon: Practical Steps

Create a Realistic Wedding Budget

Your honeymoon budget is influenced by your overall wedding budget. Tools like Honeyfund’s 1-Page Wedding Plan can help you calculate a realistic budget based on your financial situation and goals to help you plan for your honeymoon more effectively.

Set up a Honeyfund to help fund your Honeymoon

If your honeymoon dreams exceed your budget, setting up a Honeyfund can bridge the gap. Your Honeyfund allows wedding guests to contribute towards your trip costs in lieu of traditional gifts, and you can withdraw funds via platforms like PayPal or Venmo to ensure you receive 100% of the contributions.

Utilize a Travel Rewards Credit Card

Leverage travel credit cards to access sign-up bonuses, reward points, and perks. This approach, known as travel hacking, can significantly reduce your travel expenses, ideal for those planning both a wedding and a honeymoon.

Additional Planning Considerations

Timing: When to Plan

There’s no one-size-fits-all for the best time to book your honeymoon, but booking early typically secures better rates and more choices. While spontaneous trips can be thrilling, planning ahead allows for a more thoughtful itinerary.

Consider All-Inclusive Options

28% of the couples we surveyed opted for an all-inclusive honeymoon, which can extend your budget further and simplify planning. These packages often combine accommodations and airfare, offering both convenience and value. This is a great choice for couples looking for a beachy destination, since many resorts can be found in the Caribbean, Mexico and Latin America. Don’t have a passport? No worries, you can even find some all-inclusive packages without leaving the US.

Conclusion: Craft a Thoughtful Honeymoon Experience

Planning a honeymoon involves more than just picking a destination; it’s about making strategic decisions that align with your financial realities and travel desires. By adapting to changing trends, focusing on meaningful experiences, and utilizing financial tools wisely, you can craft a honeymoon that not only celebrates your union but also sets a precedent for future adventures together.