Anyone using a Honeyfund?

jj51506

My FI's family was going to pay for our honeymoon. However, the wedding has become a lot more expensive than we budgeted for (and this is already after cutting costs on many things). So FI and I spoke and decided to use the money from his parents to help my father with the wedding costs. But then we would forego going on a honeymoon and wait maybe a yr for our one year to save up for a nice honeymoon. We cannot afford one ourselves right now bc we barely have enough for a downpayment on a house. We do not want to have this wedding and a nice honeymoon then come home and still live with our parents!

My FI's aunt already has a timeshare saved for us to go to Spain (our original honeymoon destination). She went through a lot to get that for us. We feel awful to tell her we will not be using it now, so FI suggested maybe doing a honeyfund?

I feel torn between this, as I see a honeyfund as being kind of greedy. Like , HEY pay for our honeymoond and give us money!!" But on the otherside, we really would be using it for this honeymoon we are looking forward to havning.


What should we do?

Britt1406

You'll get a lot of people on the boards against a honeymoon registry. We registered with Honeyfund because they don't take a % out of what the guests give you. I'd recommend paying the extra $29 for the advertisement free registry, it looks much nicer. I don't know how many people will use it. Fi and I already live together and have just about everything we need. So, we registered at Target for a few things and did the Honeyfund also.

frozenxthoughts

If it makes you feel any better, my FI and I will not be having a honeymoon. I'm in the middle of law school, and honestly, I just couldn't justify the extra money. We had a two-year engagement, which is where we saved money and were able to plan and pay for our wedding ourselves. This might just be me, but I'm very much against spending money outside of means. I know this sounds heartbreaking, but you can always take a honeymoon later...or perhaps something smaller and less expensive like a cruise?? Those are always a lot of fun. I've never heard of the honeyfund, but I'm not sure if I like the idea much.

irisheyezfsu

If it is a time share she already owns she can have it changed, just explain to her that with the expensense of the wedding you have decided to postpone your honeymoon or are taking a smaller honeymoon, but that you greatly appreciate such a wonderful gift she offered you.  As for a downpayment on a house. Why do you need a house now? To save cost move into an inexpesive apartment or rent a house for a year to save up.

jj51506

Yea, more than likely we won't be taking a honeymoon. FH found out it will cost his aunt $50 to cancel so he is giving her that money.

We refuse to buy an apartment or rent a home as we feel we woulnd't be able to save bc we would literally be throwing or money away. Rent is such a ridiculous amount of money a month that you will never get back. We feel buying a home will be a great investment and we would own it outright. As silly as it may sound, we would rather stay home then have to rent or buy an apartment.

irisheyezfsu

What about a condo? Market is low on condos right now, plus you won't own the house outright till you pay it off through the bank, the bank owns it till then.  Sorry I am kinda real estate nerd. My parents are both in the real estate business in Orlando (mostly Altamonte springs longwood area) and I grew up in it over my life that now I am in it too up in DC haha. I understand about throwing money away but that is why I said find a place that is inexpesnive to rent. A lot of times new couples get a house and get overwhelmed by all that you have to put into it. Hopefully your parents or his can be as mentors to you through this process.

Maggie214624

I think buying a house in this market is a great idea.  The prices are fantastic right now and delaying the purchase of a home could be something you might regret later (speaking for myself here).   Maybe you could do a long weekend at the beach or an inexpensive cruise as previously mentioned?  This way you get a bit of a honeymoon and you can get settled in a new home and then take the honeymoon of your dreams.  Good luck, I know this is a hard decision for you guys.

sarah42nd

We bought a house last year . I would say buy now if you have the money. Its a great investment.  Whatever  your decision I would decide asap since you only have 5 months left. Either cut back on the weding more and go on the HM or Keep the money for the wedding and take a weekend vacation close. Also have you talked to FI parents about using the money for something else other then the HM ? What happens if they get upset and say no or something?

meghanmcadams

I'm gonna say it for Erika because who knows where she is lurking but she is a Realtor!

jj51506

Yes we have thought of the possibilty of owning a town house or condo. Like the ones in The Springs (we have two friends who live there and love it). We have spoken to FH's parents about using the money to help for a downpayment on a home instead and they agree that this would be best for us right now.

My mother is bummed about the no honeymoond, but its our decision not hers. And yes we could probably go a mini weekend getaway or cruise.

Thanks everybody!