Figuring out how to pay for a honeymoon that lives up to your expectations, especially after planning and paying for a wedding, can just seem like one more daunting task to deal with.
A great option that not many know about is to fund your honeymoon with a loan. You can still go on the honeymoon you’ve always dreamed of while not racking up a mountain of credit card debt. Vacation loans have lower interest rates than your typical credit card (as low as 7.95% APR*) and you often have up to 12 months to repay.
You don’t want to start off your new life together without two pennies to rub together. Take out a loan for your honeymoon to eliminate the struggle of finding the cash to pay for it and make your vacation the way it should be: stress free!
Don’t Compromise on Your Dream Honeymoon
You probably have one or two vacation destinations you’ve always imagined for your honeymoon. Whether it’s something tropical or a mountain getaway, you don’t have to compromise on your honeymoon. This should be your one chance to truly take that romantic getaway to your dream destination. Celebrate your new marriage without stressing the financial details!
If you have a little bit of money set aside for the honeymoon but it just doesn’t seem like enough, pay for your honeymoon with a mix of both. Knock out the plane tickets and lodging with a loan, then use cash for dining out and spending money while on your honeymoon.
A Loan is Better than Credit Card Debt
Many new couples come out of their wedding and honeymoon with a mountain of credit card debt; probably not the ideal way to start your new life together. By opting for a loan rather than racking up your credit card to pay for a honeymoon, you can enjoy a lower interest rate and a structured re-payment plan.
A loan is gentler on your credit score as well. If you have other large purchases planned, like a house or a car, you will want your credit score looking as good as possible. Not only will a loan collect less interest but it is also “better” debt than consumer debt.
Start Your New Life Together in Good Financial Standing
A new marriage usually means new joint expenses and more serious planning for your future together. Do retirement-age you a favor and start things off on a good foot. Keep some cash for the unexpected, minimize your credit card debt, and prioritize low interest loans to higher interest alternatives.
With Rocky Mountain Law Enforcement Credit Union, you can borrow up to $2,500 with an APR as low as 7.95%.* To learn more, call 303-458-6660, go to rmlefcu.org, or visit one of our branches.
*Annual Percentage Rate. With approved credit. Some restrictions may apply. Offer valid through July 31, 2017