Tacky or Tasteful? Crowdfunding Everything From Honeymoons to Retirement

NEW YORK (TheStreet) — An increasing number of couples are opting for wedding gift registries that help fund their honeymoon rather than fill their kitchen cabinets. According to a recent survey from XO Group, 20% of engaged couples use online honeymoon registries. Crowdfunding the honeymoon is a growing trend among Millennial couples, who are getting married later in the relationship and are often cohabitating before they walk down the aisle.

Asking for cash is still relatively taboo, so honeymoon registries are one way to fill the void. “Part of the reason Honeyfund exists is because it’s a more tasteful way to ask for money,” Sara Margulis, co-founder and CEO of Honeyfund, recently told Main Street. “Givers want to know what that money is going toward. And by listing out specific things you want [on your Honeyfund page], such as experiences on your honeymoon, it lets a giver connect to something specific they are giving you.”

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Honeyfund has helped couples raise over $250 million dollars to date, with the average amount raised per couple hovering around $1,200. Contributions can be made to cover travel costs, such as airfare and accommodations, as well as special excursions like snorkeling, and romantic dinners or spa treatments. Many couples use photos from their honeymoon to personalize thank you cards after they’ve returned home.

As the trend has caught on, couples have embraced crowdfunding other milestones. “People can raise money for birthdays, anniversaries, there’s a growing trend of funding ‘babymoons’ this way — which is a special trip to memorialize life as a couple before the baby arrives,” according to Margulis. The demand for crowdfunding other life events led the co-founders of Honeyfund to develop Plumfund, an online registry that can be used to raise money for everything from baby showers to retirement.

The biggest downside to online registries are the fees, which are often charged as a percentage of the overall transaction. However, when faced with the choice between kitchen gadgets and snorkeling in Fiji, many couples seem to think paying the credit card transaction fee is worth it.

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