Are Disney parks no longer for the Middle class?

[Starport Seven-Five]

Of course! But Art apparently believes simply having one is "not smart".

I believe the argument was that the person could put a $5,000 trip on the CC because they lack the $5,000 in cash. That's how I read it at least and would make sense as being "not smart."

It's only not smart if you max it out and only make minimum payments every month, since the interest could end up being an absolute killer. "Little and often" is often advocated as a good strategy when it comes to credit cards.

IMO: It's not smart if you aren't paying the statement balance in full each month. When you carry a balance, everything on that card just got XX% more expensive. Very few items make sense to purchase when you combine CC levels of interest on them.

 

[AurumPunzel]

IMO: It's not smart if you aren't paying the statement balance in full each month. When you carry a balance, everything on that card just got XX% more expensive.

Not everyone has that luxury. The trouble is that, in a world of stagnating wages and ravenous consumerism, more and more people are becoming reliant on them than ever, and paying off in full isn't going to be an option for some. The best one can do, however, is to progressively pay more than the minimum every month until it gets to the point that the balance can be zeroed-off in full.

 

[kdonnel]

Not everyone has that luxury. The trouble is that, in a world of stagnating wages and ravenous consumerism, more and more people are becoming reliant on them than ever, and paying off in full isn't going to be an option for some. The best one can do, however, is to progressively pay more than the minimum every month until it gets to the point that the balance can be zeroed-off in full.

Everyone has the option to resist ravenous consumerism.

 

[xipotec]

So here is the deal......

You can be in that "middle Class" salary range......and STILL have a mortgage, student loans, weak healthcare coverage......and that makes a WDW vacations a thing to save for, (Which could be done away with if a major expense comes along as they often do....)

If you make 100K and your parent bought you cars or even your house, and/or paid for your education....well then its easy to say "just save for it".

I see this all the time when people who were BORN wealthy and make a middle class income wonder why all their contemporaries are buying used cars while they are buying BMW's and go on luxury vacations every year. They always throw out the "well just save your money" or "they are not spending wisely". We should just invest in better stocks? Am I right???? Meanwhile, that same income, with those other expenses, does not go nearly as far.

Its more about where you come from in the middle class , and not how much your annual salary is.

 

[pxidst119]

This is so true. I know quite a few people that get a lot of help from their wealthy parents whether it’s a car that has remained a part of the family business, parents that pay for family vacations, help with home improvements or even provide free daycare for the grandchildren. These things are huge parts of a budget. Even though these families make smaller salaries, they are able to “save” for things because their parents are footing the bill for major expenses or house emergencies that pop up.
Everyone’s circumstances are so completely different that it’s really hard to generalize whether or not a specific class can afford it.
However, Disney can be affordable for many families since there are options for a variety of budgets.

 

[RamblingMad]

Not everyone has that luxury. The trouble is that, in a world of stagnating wages and ravenous consumerism, more and more people are becoming reliant on them than ever, and paying off in full isn't going to be an option for some. The best one can do, however, is to progressively pay more than the minimum every month until it gets to the point that the balance can be zeroed-off in full.

This is the credit cycle.

The problem with it is that when folks spend more money then they can afford, they effectively push up prices for everyone else. This is why asset values tend to go up as interest rates go down.

Folks really need credit for life events when they don't have savings. These events can be as simple as their furnace dying in the winter.

If you can't afford to save, then it's not affordable. And that's okay. It's not worth the credit card or personal loan interest rates. If you're going to have to pay interest, it's better to pay it on a furnace to keep your home warm than on a Disney vacation.

 

[AurumPunzel]

Everyone has the option to resist ravenous consumerism.

True, but the trouble is that in a world of 24/7 social media, people get so envious about others that they just want things now, not later, and also, capitalism is what keeps CMs (and everyone else, for the matter) in jobs. If everyone waited until they actually had the money, then apart from movies, how else is Disney going to stay in business?

This is the credit cycle.

The problem with it is that when folks spend more money then they can afford, they effectively push up prices for everyone else. This is why asset values tend to go up as interest rates go down.

Folks really need credit for life events when they don't have savings. These events can be as simple as their furnace dying in the winter.

If you can't afford to save, then it's not affordable. And that's okay. It's not worth the credit card or personal loan interest rates. If you're going to have to pay interest, it's better to pay it on a furnace to keep your home warm than on a Disney vacation.

True, and that links into the whole Catch-22 with debt. Banks make money by charging interest, and credit also drives the economy. Then again, the subprime mortgage boom 12 years ago then suddenly triggered a cataclysmic collapse that resulted in many bailouts, and as much as credit is good for the economy, it can also be evil.

 

[TCRAIG]

While you can definitely save a lot by staying offsite and eating outside the parks and driving, ETC. the one expense that really makes Disney expensive is TICKETS. You can save a few bucks by using Undercover Tourist or some other reputable discounter - and forgo Hoppers - but all in all - WDW tickets can really eat up some serious vacation savings - especially if there’s more than 4 people

 

[RamblingMad]

While you can definitely save a lot by staying offsite and eating outside the parks and driving, ETC. the one expense that really makes Disney expensive is TICKETS. You can save a few bucks by using Undercover Tourist or some other reputable discounter - and forgo Hoppers - but all in all - WDW tickets can really eat up some serious vacation savings - especially if there’s more than 4 people

I get my tickets through AAA.

The cost of tickets can grown faster than wages and core inflation, which means folks are either saving longer to go or taking on more debt. In comparison, my cost to enter a National Park is tiny.

 

[kdonnel]

True, but the trouble is that in a world of 24/7 social media, people get so envious about others that they just want things now, not later, and also, capitalism is what keeps CMs (and everyone else, for the matter) in jobs. If everyone waited until they actually had the money, then apart from movies, how else is Disney going to stay in business?

No one is entitled to everything they want.

All those that claim they cannot afford to save are lying to them selves. The truth is they cannot afford to save and live the lifestyle they are living.

When I got laid off I immediately looked at my budget(everyone has one right?) to determine what I could cut. I was able to cut 25% from my monthly expenditures, 25% of fluff that made my life easier or "better". My budget is not unique in that regard.

 

[Starport Seven-Five]

True, but the trouble is that in a world of 24/7 social media, people get so envious about others that they just want things now, not later, and also, capitalism is what keeps CMs (and everyone else, for the matter) in jobs. If everyone waited until they actually had the money, then apart from movies, how else is Disney going to stay in business?

If people weren't paying money in credit card interest they could spend more on vacation.

Envy and delayed gratification is part of being an adult.

 

[Victoria3]

I'm not sure.. I've seen a lot of adults in the parks wearing etsy's tacky "#Broke" shirts though.

 

[PollyannaMom]

No one is entitled to everything they want.

All those that claim they cannot afford to save are lying to them selves. The truth is they cannot afford to save and live the lifestyle they are living.

When I got laid off I immediately looked at my budget(everyone has one right?) to determine what I could cut. I was able to cut 25% from my monthly expenditures, 25% of fluff that made my life easier or "better". My budget is not unique in that regard.

I agree that this applies to a lot of people. - I think "all" is pushing it, as I do know people for whom cutting 25% percent would eat into necessities, not luxuries. But I definitely think there is a tipping point (different for everyone) at which point Disney is more or less important than other luxuries.

 

[kdonnel]

I agree that this applies to a lot of people. - I think "all" is pushing it, as I do know people for whom cutting 25% percent would eat into necessities, not luxuries. But I think there is a tipping point (different for everyone) at which point Disney is more or less important than other luxuries.

I am not saying that everyone could cut 25% from their monthly spend.

I am saying that everyone can afford to save, even a little, by adjusting their lifestyle, just a little.

 

[RamblingMad]

I am not saying that everyone could cut 25% from their monthly spend.

I am saying that everyone can afford to save, even a little, by adjusting their lifestyle, just a little.

Not for those at or near the poverty line, which isn't an insignificant number of people.

 

[Searc]

No one is entitled to everything they want.

All those that claim they cannot afford to save are lying to them selves. The truth is they cannot afford to save and live the lifestyle they are living.

When I got laid off I immediately looked at my budget(everyone has one right?) to determine what I could cut. I was able to cut 25% from my monthly expenditures, 25% of fluff that made my life easier or "better". My budget is not unique in that regard.

Well, some people can save or they can pay their rent/mortgage and eat. I know which one we chose when we were in that situation in the past. Don't be so smug in believing it could never happen to you.

 

[Searc]

I am not saying that everyone could cut 25% from their monthly spend.

I am saying that everyone can afford to save, even a little, by adjusting their lifestyle, just a little.

Nope.

 

[msjprincess]

Nope.

Don't be silly, it's a choice. If people really wanted to save money, they would move out of their run down apartment and into a cardboard box.

 

[RamblingMad]

Don't be silly, it's a choice. If people really wanted to save money, they would move out of their run down apartment and into a cardboard box.

We already have tent "cities" throughout the US. This is a problem.

 

[Searc]

Don't be silly, it's a choice. If people really wanted to save money, they would move out of their run down apartment and into a cardboard box.

Right.