After all the expenses associated with a wedding, it’s hard to believe that anyone can afford to go on a honeymoon! It is, however, somewhat of a rite of passage for all newlywed couples, and certainly not something you’d want to miss out on. Luckily, there are a number of ways you can finance the honeymoon of your dreams:
- Take out a personal loan
You’d be surprised by how many couples take out a personal loan to help pay for their honeymoon, and if you are reasonably credit free, it can be an ideal solution to supplement your honeymoon budget. However, it is important to assess your current financial situation beforehand to ensure that you are capable of making the repayments once you’ve returned. EasyPlan Financial Services help clients find the best personal loan for their needs, and using our relationships with leading bank and lending institutions, our team can take care of the research required for your honeymoon loan. If you’d like more information, visit our website here to fill out an enquiry, and get one step closer to the honeymoon of your dreams!
- Draw upon home equity
If you and your spouse already own a home, and have been making repayments for a while, you may be able to draw upon your home equity. Home equity is the difference between what you owe on your mortgage and the value of your home, meaning you are able to borrow against the value of your home to fund your dream honeymoon. There are risks involved in doing this, however, so be sure to do plenty of research beforehand.
- Take advantage of credit card benefits
One way to help afford your dream honeymoon would be to take advantage of your credit card benefits. Before you plan to jet off on your trip, you should invest in a credit card that offers rewards that you can get utilise when planning your honeymoon. For example, many cards offer a points system which allows you to accrue points when you use the card. By putting as many expenses as possible on your credit card and ensuring that you pay it off on time each month, you have the opportunity to obtain plenty of points, which can then be used to purchase things like flights or hotel rooms! Similarly, if you join an airline’s frequent flyer program, you can use your credit card to book flights through that airline and get even more benefits!