Top 7 Honeymoon Destinations In Singapore 2020 And How A Wedding Loan Can Help
Weddings are an incredibly joyous affair and a huge cause of celebration. You’ve finally decided that you’re going to be spending the rest of your life with your other half. Congratulations!
What’s next then? The horror of planning for a wedding.
The idea of planning for things is probably not going to sit well with most of us, let alone planning for huge affairs like a wedding. Planning a wedding has never been easy. The cost of holding one is always on the rise. Luckily, budgeting and planning are the key to a fulfilling celebration. Although many factors influence the cost of a wedding, a typical Singaporean wedding costs around S$30,000 to S$50,000 for around 300 guests.
As it is often a one-time event, couples and their families go the extra mile to make it elegant and memorable as much as possible. All this comes at a cost, and this may have long-lasting implications on your finances. To avoid starting your marriage on debt, the guide below can help you.
The Major Wedding Costs
Every couple has their own unique requirements when it comes to a wedding. Some may find joy in a low-cost event of S$15,000 while others may need to spend as much S$100,000 to feel fulfilled.
When planning a wedding, some items are set to take up more space on the budget than others. Some of the major wedding costs include the wedding banquet, photography and videography, outfits and honeymoon.
The wedding banquet is probably going to take up the largest chunk of your budget. Here, the cost depends on the venue you pick. Whether you want a luxury or average venue, customising it will also result in a price increase. If you are celebrating your big day on a weekday, the average cost per guest is S$127 and S$155 on a weekend.
On average, a bridal package consisting of the gown, dresses, suits, shoes and makeup costs between S$3000 to S$6000. If you’re looking at keeping costs to a minimum, renting these items is more convenient and helps you save a lot. The amount that you save can be put to better use such as spending it on a holiday or simply putting it into your savings account.
Weddings are going to be one of the happiest moments in our lives. To capture these special moments, you’re going to require professional photography and videography. Such professionals will charge between S$2,500 and S$4,000 for a shoot. If you’re looking at saving costs, you can get someone you know to conduct the shoot for you.
What To Consider When Budgeting For A Wedding
When budgeting for a wedding, always remember this is a special day that is supposed to be fun, lively and unforgettable. As much as you want to save, you don’t want to leave your guests bored or neglected. Whether you dream of hosting it in a lavish hotel or a simple garden, there are factors that you need to consider.
First, discuss as a couple how you will pay for the wedding. Decide whether it’s your parents or both of you who will foot the expenses.
Second, calculate how much you will need for the wedding. This usually depends on the number of your guests, the setting, the season and the wedding style you yearn for. Be specific and include the cost of reception, entertainment, decoration, transport, vendors, rings and other things that you wish for.
Also, remember to allocate some money for miscellaneous items to foot any unforeseen bills that might emerge.
Once you have come up with a budget, think of how you will raise the money. If you have decided to foot part of the costs, you need a saving plan. You can start by setting apart 20% of your income. Cut back on expenses such as eating out and start cooking, and avoid buying unnecessary stuff. If you have some valuable items that are in good condition but you don’t use them anymore, you can sell them and make some extra cash.
If you’re looking to save more, you can cut the guest list, skip the pricey wedding items such as flowers, cake and decorations and substitute with less expensive ones. For entertainment, go for local talent. Working with local vendors is way cheaper and convenient. You can also simplify the menu but ensure it remains decent and delicious. By now, if you feel that you’re still eating too much into your savings and you need a boost, you can consider taking a wedding loan.
Why You Should Take A Wedding Loan As Opposed To Credit Card Loans
Wedding loans are advantageous as they are considered unsecured personal loans. This means that you won’t have to provide any collateral in exchange for the loan. More importantly, there isn’t a minimum salary requirement for you to have in order to qualify for the loan. As long as you’re able to present a proof of employment, which shows that you’re fit to repay the loan, you’ll most probably be approved for the wedding loan.
Wedding loans also have a speedy approval process, allowing you to receive the cash you need, fast.
Moreover, a credit card loan can tempt one to overspend, thus leaving you with extra debt. If you need to borrow a large sum for your wedding, using your credit card can hurt your credit score when you exceed your credit limit. Therefore, a wedding loan is a more viable option.
Compared to credit card loans, a wedding loan more ideal as it offers flexible repayment terms, lower interest rates and a faster approval process.
A wedding loan might not necessarily only be used to fund the actual cost of the wedding, you can also utilise it to offset the cost of your honeymoon. If you’re still undecided or don’t have a place in mind, we have rounded up a list of the top 7 places for the perfect honeymoon! Do note that the costings stated below do not include the cost of airfare and are just a rough estimate which can differ from couple to couple.
Top 7 Honeymoon Places And Cost Guidelines Per Person
If you want a taste of paradise for your honeymoon, Fiji is the perfect destination. It boasts of beautiful islands, gorgeous beaches, world-class resorts, cultural activities and even overwater bungalows. For less than S$4000, you can enjoy your honeymoon at an amazing resort. There are also plenty of enjoyable activities such as scuba diving and dolphin watching. If you’re not feeling particularly adventurous, you can also opt to relax in the warm sands.
Choosing Jamaica as your honeymoon destination is probably going to be a decision that you won’t regret. One of the largest islands in the Caribbean, Jamaica has the romantic touch you are looking for. It has a wide variety of resort options, amazing scenery, friendly people and arguably the best beaches in the world. The total cost of a honeymoon here is between S$4000 and S$5000.
From the stunning white beaches, amazing food and spectacular mountain scenery to its rich history, Greece has everything you need to have an unforgettable honeymoon. Santorini is the ideal backdrop for a couple shoot with its picture perfect villages and a picturesque view of the sunset. The place offers variety, allowing you to have an unforgettable honeymoon. The average cost ranges between S$2000 and S$3000.
Although it is mostly known for its temples, Cambodia also has great beaches. It is a perfect place for newly wedded lovebirds who want to spend some amazing time away from everything. Apart from viewing the unending oceans, you can also go snorkeling and take boat tours. Its proximity makes it more ideal for Singaporeans who don’t want to travel too far. Honeymooning here costs around S$1500.
The city of Paris in France is known as the city of love and romance and going for a vacation here will start your marriage on a high note. By taking a tour of the Eiffel Tower, you can get a panoramic view of Paris city. You can also visit museums, go for a boat ride on the Seine River, discover covered passageways or go for a picnic at the glamourous Gardens of Versailles. On average, you are bound to spend around S$2500.
Known as a sunny paradise, Maldives is a tropical nation in the Indian Ocean. It will provide you with a perfect blend of adventure and relaxation. It boasts of untouched islands, and you can enjoy the rich culture including fishing in the sunset. You can also go scuba diving to view the colorful marine life. You can stay in beach bungalows or private island resorts. With S$3000, you are set to enjoy a lot of amazing things.
7. Bora Bora
Looking for a nice destination to start your new life together? Then Bora Bora is the place to visit. This is a magnificent destination that is unique in all ways. It offers all aspects of a romantic atmosphere. It has pristine beaches, overwater bungalows and small peaceful villages. Here, the average cost is around S$8000.
The trick to a great honeymoon is to plan early and book your tickets early. This way, you will benefit from offers and discounts, thus saving a lot. If you are planning a wedding, it’s best you start preparing and saving as soon as possible. The earlier you start, the more money you will have for spending. With the right financial plan for your big day, you are set to start your union on the right foot.
Our wedding loans can come in handy should you require a stable and reliable source of funding for your wedding needs. Apply for a loan with us today or speak to us to find out more. We’ll ensure that your wedding or travelling needs are well taken care of, so that you’ll have a memorable wedding that you can look back on!
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