Plan to be Debt Free? 3 Reasons to Avoid a Destination WeddingAug 29, 2017
Destination weddings have become increasingly popular for Canadian couples. With many of them happening in the cooler months, attending a destination wedding can seem like a nice way to give yourself a warm vacation while celebrating your loved ones. But if you’re aiming to be debt free, a destination wedding could set you back.
Here are three of the biggest debt-threats of a destination wedding.
Flights and hotels
Getting out of the chill of the Canadian winter seems like it could help break up the dreary time before spring. But it won’t help with your debt.
Those chilly winter months signal something significant to your wallet: peak travel times. That means peak travel expenses.
Flights and destination hotels may be at their most expensive. And add to that, you usually can’t use travel rewards or savings plans during peak travel times, either.
If you’re traveling to a different climate for the wedding, chances are you’ll be shopping for suitable attire, too. If you’re excited about your vacation you might find yourself more likely to treat yourself, and overspend.
The warm-weather fantasy and excitement can knock you off your budget. And ordering out-of-season attire online often means using your credit card more than you normally might. Those charges and interest rates can add up to debt in no time.
After your destination wedding vacation is over, you won’t have a chance to wear those warm-weather clothes until the next Canadian warm spell. But you might be paying off your credit card debt all winter.
Pre- and post-wedding celebrations
There’s no question that being in a warm destination surrounded by family or friends can result in a lot of celebrations and indulgence. But those experiences and expenses will cost you.
Taking part in extra recreational activities, or bachelorette/bachelor parties can add up, especially in a destination where the exchange rate isn’t in your favour.
You might also feel pressure to participate in all the wedding activities if you travel for the nuptials. At a local wedding, you’d be more likely to opt in or out of activities based on your budget and availability.
The costs of living can seem far away — quite literally — when you’re in another country.
But as many Ontarians know, the coming months or years could impact your monthly budget again. Saving for utility bills isn’t as glamorous as a spending on a winter getaway, but it might be necessary.
If you’re invited to a destination wedding, be sure that attending is in your best financial interest. Even a non-destination wedding can stretch a budget, so if being debt free is your goal, consider how attending may set you back.
Are you budgeting for a destination wedding this year? Tell us on Twitter. #DebtSolutions #destinationwedding