Skip to main content Skip to main navigation
Skip to accessibility page Skip to search input

Saving for a honeymoon

For Australian honeymooners, beach holidays are still the most popular.

Top honeymoon destinations for Australians

Most overseas escapes for Australians are to the South Pacific. Bali and Thailand, the Maldives and Bora Bora – we love them for their relative geographical convenience and year-round warm weather.


Your honeymoon will be as individual as you and your relationship. Your limits will likely be your time and your budget.


We can’t help you with time – your access to holidays and freedom from commitment will determine that, but we can help with your finances.


A 2017 Cost of Love survey found that couples spend approximately $9000 on a 17-day honeymoon. Factors that add to your costs include distance and time away: the further and longer away from home, the more your honeymoon will cost. Currency exchange; airfare; meals; tours; accommodation costs; spas and treatments; as well as in-country, or short hop transfers are other costs to think about. Some of them offer endless variations - depending on the season, packages available and fluctuations in the Australian dollar - with which you can tinker to reach your budget.


Knowing what to expect when it comes to the weather and your chosen destination can help you pick the optimum time to go. Being aware of peak times can also help reduce your costs. Why? Because the ‘shoulder’ months, either side of the peak, can be less expensive. There are also likely to be better package deals at those slower times of the year.

Funding your dream honeymoon

One of the things that planning your wedding allows you to do is set up a honeymoon fund. You may decide to have a minimoon after the wedding and save up for a longer trip. Whatever you choose to do, we can help you reach your savings goal. Westpac Life makes it easy to manage long and short-term savings goals with just the one account and rewards you if you save regularly.


An online savings account usually offers a higher interest rate.


Maybe you’re ahead of the game and have a bucket of savings to go toward your honeymoon already. You could lock it away in a term deposit. Term deposits give you the certainty of knowing exactly what the return on your savings will be but come with certain conditions which can help reduce the temptation of dipping into your savings. It is important to know that you'll have to give 31 days’ notice if you need access to your money.

Rewards style credit cards can help you meet your dream honeymoon in a different way. Maybe your card earns you points and benefits you can use toward your honeymoon. For example, you can redeem your points for flights or upgrades, shopping, accommodation and more.


Finding the right card for you is easy with our simple card comparison table: read about features like our complimentary concierge service, travel insurance, lounge passes, flight seat upgrades, and more.


One of the hidden costs of travelling for Australians is the cost of currency exchange. A travel money card lets you lock in your exchange rate in advance and know exactly what your budget is. You can use your card to get money out at atms or shop like a local in stores and at restaurants. You’ll get the security of two cards in case one is lost or stolen, and you won’t be carrying around wads of foreign currency in your pocket.


The travel money card is also handy if the rate is in your favour, but you won’t be travelling yet. There is no monthly account, load or reload fees or currency conversion fees.

Wedding registry honeymoon fund

Honeymoon registries have begun to replace traditional gift registries or form part of the registry. Your guests can contribute to your honeymoon or holiday with cash.


The cool thing about a honeymoon fund is it lets you create an itemised, categorised honeymoon registry. Your guests can buy or contribute toward the items you include on your list, such as the flights or accommodation, tours. You may need to check but most honeymoon registries can handle foreign currencies.


Your full travel cost probably won't be covered by your guests, and most travel agents require payment 30 days before travel. Perhaps, you can use your savings to pay for the honeymoon, and once guests contribute to your registry, you can recover your costs.


Perhaps, you can pay a deposit to your travel agent with a credit card that suits your needs. Your credit card may earn you travel rewards, and you can use your honeymoon registry to help meet your repayments.

 

The information above is general in nature. Always seek professional assistance to assure that your decisions are appropriate to your personal circumstances and objectives.