Deciding if you can afford it

[disykat]

That's a decision that only you can make. Some people are comfortable with debt and others are not. There are people who feel that 6 month's of living expenses is a big enough emergency fund while others want 8-12 months socked away before they feel like they can breathe.

I think that you need to set some short-term and long-term financial goals. Long term as in paying off the mortgage in 18 years, having a certain amount in retirement by age 68 or in college funds by the time each child graduates from high school. But you need short-term goals too - like building a new deck, buying another car or taking a Disney vacation. You can be working on the long-term goals while you meet the short-term ones. As long as you know that you're taking care of the long-term goals, you can give yourself permission to enjoy the short-term ones as well.

This is a great post. We went to WDW less than most people on this board because going more often would have interfered with our long term goals - mainly due to our other short term goals that we often prioritized higher. It's all about planning and prioritizing.

We are list people and have always had a list of vacations we wanted to take and home improvement projects we wanted to do. Then we prioritized from there. Once we decided it had made the list, we were usually able to make it happen.

 

[murcor]

Curious about how others on limited budgets decide to take a Disney trip.
We would really love to take our kids for a short trip to disney in the next year or two. But I end up feeling so guilty about even considering it.
We would never go into debt over it! But at the same time, money is very tight in our household, and I feel like the money we'd spend on a Disney trip would be better spent on adding to savings or paying car or student loan debt off more quickly.

At what point do you feel like you can responsibly take a trip to Disney (those who have to fly there)? If we wait until we have no other debt (besides our house) and have 6 months salary in savings, our kids will be 20 before we can take them. I'm trying to decide if that means its something we probably should stop hoping for.

Reading these boards make one want to do to Disney more and more and if its tough finacially it can be agonizing

Are your kids still young and you have a few years to save? Reanalyze the situation then and you will know if its the right thing. Dont give up the hope

I also agree with many things from a previous poster.

-Stay onsite at a value resort. You're only sleeping there and all your transportation is included.
-You don't need a park hopper. You can easily do enough to do one park a day.
-You can go resort hopping and check out all the cool stuff at the resorts.
-Hang out at the pool of your value resort. You don't need to do the water parks.
-Get stuff for breakfast (cereal, milk, muffins, fruit) delivered when you get there and do breakfast in the room.
-Get snacks also, bottled water etc

You can use wegoshop.com it will save alot of food costs!

 

[Aliceacc]

I don't necessarily think that short term debt is all that scary. So, yeah, I'll put something onto a credit card, knowing that it will be paid off within a few months.

That's a different matter from putting my family at economic risk.

We tend to save for a year and a half or so for a Disney Trip. Right now we're putting $200 a paycheck into a vacation club for our August 2013 trip. (that may waver a little this summer as we remodel the kitchen; we'll see.) We hope to have the bulk of the money in that account, even aside from any tax return money we can pump into it. We also stock up on Disney gift cards for every conceivable holiday in the months leading up to a trip-- everything from birthdays to Easter to Mother and Father's Day. By the time we leave, our spending money is covered.

On the other hand, our 2008 and 2009 trips were all about my mental health. I was facing some scary health issues and badly needed a big distraction. So, yes, we saved what we could and paid off our trip in the months after our 2009 trip. And we survived.

I guess what I'm saying is that it's OK to put part of that trip onto a card, knowing that you'll be able to pay it off within a reasonable time. Only you can determine your comfort level.

Why not start a serious Disney fund, planning for summer 2013? Even if you can't save the whole thing, you could save a decent chunk and worry less about debt.

The best of luck with your decision.

 

[disney_me]

Curious about how others on limited budgets decide to take a Disney trip.
We would really love to take our kids for a short trip to disney in the next year or two. But I end up feeling so guilty about even considering it.
We would never go into debt over it! But at the same time, money is very tight in our household, and I feel like the money we'd spend on a Disney trip would be better spent on adding to savings or paying car or student loan debt off more quickly.

At what point do you feel like you can responsibly take a trip to Disney (those who have to fly there)? If we wait until we have no other debt (besides our house) and have 6 months salary in savings, our kids will be 20 before we can take them. I'm trying to decide if that means its something we probably should stop hoping for.

Where do you live?...... Maybe you could drive to FL. Also maybe consider staying off site. . We always stay off site. For our upcoming trip we rented a 4 bedroom 3 bath house with a heated pool for $850.00 for the week. I think the most costly thing for a Disney trip are the tickets. We buy 1 ticket at a time so we don't have to shell out a ton of money all at once. I think if you plan your trip a year or two out that will give you ample time to plan and save. You do not always have to buy from a WDW website. Here are my favorite links.


For house rentals in FL. Look for a place in Davenport or Kissimmee.

http://www.vrbo.com/vacation-rentals/usa/florida/central-disney-orlando

For your tickets at a discounted price. We never have have a problem with this website.

http://www.undercovertourist.com/

Best of luck to you in what ever you choose!

 

[Cakesy]

I can't tell you how much I'm always impressed with the helpfulness of people on this board!

You guys have really given me a lot of good thoughts on the matter. I was thinking of a small trip in Oct of next year. My daughter will be 6 and my son will be just shy of three, so still free. We were able to take my daughter to MK one day as part of a very inexpensive FL trip when she was two, and she was young, but it was still wonderful.

With kids being 3 years apart, what do you think is a good time to shoot for? I thought next year would be a WONDERFUL age for DD, and save a little money with DS. But because we plan only a small trip, it doesn't really save us that much compared to waiting till after he's three. But then I want to make sure my daughter is young enough to be really amazed and enchanted, and 6 seemed like a good age. When does a little girl start getting past the age where it all seems real and magical? Should we plan to get her there by 7? 8?

 

[Ginny Favers]

I can't tell you how much I'm always impressed with the helpfulness of people on this board!

You guys have really given me a lot of good thoughts on the matter. I was thinking of a small trip in Oct of next year. My daughter will be 6 and my son will be just shy of three, so still free. We were able to take my daughter to MK one day as part of a very inexpensive FL trip when she was two, and she was young, but it was still wonderful.

With kids being 3 years apart, what do you think is a good time to shoot for? I thought next year would be a WONDERFUL age for DD, and save a little money with DS. But because we plan only a small trip, it doesn't really save us that much compared to waiting till after he's three. But then I want to make sure my daughter is young enough to be really amazed and enchanted, and 6 seemed like a good age. When does a little girl start getting past the age where it all seems real and magical? Should we plan to get her there by 7? 8?

I was surprised at how much my 3 year old loved it, and meeting the characters. To her, they were the real thing. My 5 year old already seemed to think they were just people in costume.

We've been in debt in the past because of the $2000 a month we were spending in childcare, and we still made it a point to go. There are some things that your kids will remember forever, and personally, I think those experiences are worth going into a little debt over. Pretty much the only thing I remember from when I was 5 is the trip I took to Disney with my family.

Also, I recommend to ALL of my friends to plan a trip when their kids are just shy of 3, because they can still enjoy much of it, but they'll be free.

 

[DisneyRegulars]

I can't tell you how much I'm always impressed with the helpfulness of people on this board!

You guys have really given me a lot of good thoughts on the matter. I was thinking of a small trip in Oct of next year. My daughter will be 6 and my son will be just shy of three, so still free. We were able to take my daughter to MK one day as part of a very inexpensive FL trip when she was two, and she was young, but it was still wonderful.

With kids being 3 years apart, what do you think is a good time to shoot for? I thought next year would be a WONDERFUL age for DD, and save a little money with DS. But because we plan only a small trip, it doesn't really save us that much compared to waiting till after he's three. But then I want to make sure my daughter is young enough to be really amazed and enchanted, and 6 seemed like a good age. When does a little girl start getting past the age where it all seems real and magical? Should we plan to get her there by 7? 8?

I think it depends on your child. I went for the first time at age 5, and loved it, but even then knew everything was not real. Seems to me age 3 and 6 would be good ages to go because your 6 year old will still enjoy all the things your 3 year old may be obsessed with...like all the rides without height requirements.

 

[mm1971]

I've already priced it and figured what we would spend on a very modest vacation. I'm not worried about saving the money FOR the trip. Its more that I'm concerned about saving all that money, then spending it on a trip. I feel guilty about it. If it we were more comfortable financially, I wouldn't worry at all. But we really have to watch our budget, and dont have as much saved as we "should."

I certainly have no right to tell you how to feel about how you spend your money. My personal feelings are that any money spent that provides a benefit to my family is well spent, whether that be a vacation, trip to the museum or any other event. Some feel differently, but while my children are young they are my focus. We have never paid a babysitter (lucky to have family available to watch the kids), very rarely spend on ourselves and our gifts to each other for the year (including birthdays and special events) are our family vacation time. We do get small things for each other here and there and will go to dinner occasionally, but our children are our focus. Now once they are out of HS and in college or working....

We would save up, have fun and not feel guilty. With that said, only you can decide if it is the right thing for your family. If it is then you have no reason to feel guilty. Everyone needs some time away from the day to day.

 

[dmiller64152]

No real tips here. I'm doing my first Disney trip in June and while not going into debt to do it, I'm setting aside some long-term goals for a few months. My son will be 8 and I'm hoping not already past the "magic" stage of life -- we're going for Star Wars Weekend and he's obsessed with that so hopefully it's enough. I finally decided to go because, well, YOLO ... and when I think of my childhood, which was very frugal, my happiest memories are of the few vacations I took with my family, including Disney. I want my son to have that. If I have to work a few years longer than I otherwise would have, I'm willing to make that sacrifice so we can enjoy this time NOW.

 

[scrappinannie]

Disney is so easy to afford. You just have to be diligent about it.

Can you afford $50/month? $75? Start getting it automatically deducted from your paycheck. After so long, you don't even miss it and are learning to live off of less.

Save all your change. At the end of every month, take it to the bank and stick it in the disney account.

Have a garage sale w/all proceeds going to disney fund.

Every tax return, stick 1/5 of it, in your disney vacation fund.

Sell stuff lying around the house on ebay. Vintage stuff goes well on etsy. Heck, if you're crafty like me, sell your handmade items on etsy. (you would be amazed at how much etsy has paid for our disney vacation)

Let's say you eat out once a week. Ask the family, if they mind "banking" one week. Put that $$ in the disney fund.

When your at target, can you afford to swing an extra $25? $50? Pick up a disney gift card when shopping. We have over $600 now for our upcoming trip by doing this. And we don't do it often.

For the last year of birthdays and christmas, we have asked for disney gift cards. DH's mom have been happy to send them.

By doing all of the above, and being diligent about it, you could easily afford a disney vacation every other year. That's including airfair. (we're flying in from Wisconsin, family of 4)

I just don't think people really understand how much money they "fritter away. Keeping track of every penny you spend, you realize just how much money your blowing on stuff, that well, doesn't really make your life all that much better. (coffee every day, vending machine, magazines, etc)

And then when you DO... do disney. A value resort is good enough. You're in the parks all the time. You're only sleeping there. You don't need a park hopper. You can easily do enough to do one park a day. Plus you can go resort hopping and check out all the cool stuff at the resorts. Hang out at the pool of your value resort. You don't need to do the water parks. Get stuff for breakfast (cereal, milk, muffins, fruit) delivered when you get there and do breakfast in the room. Get snacks also so you're not eating AS MANY of those lovely disney park snacks. (mmmm.... mickey ice cream bar) The disney parks on a budget are just as enjoyable as those who can afford to spend freely.

The sanity and peace and family time you get from a vacation is worth it. Dont ever let anyone tell you it isn't.

And don't ever give up your dream of a disney vacation. it is SO doable. You just have to be diligent in your savings. Good luck!

^^^This is a wonderful plan! You really don't realize how much money you spend over the course of a week/month/year on totally meanial stuff. We recently have gone over our budget and discovered that one month in 2012, we spent over $400 on eating out!!! $400. One month. Man, that was an eye opener. You don't think that $20 at McDonald's adds up or that you're necessarily splurging by buying a $5 cup of java a couple of times a week, but if we did that every month for a year we would have spent close to $5000! That, my friends, is a Disney vacation.

 

[scrappinannie]

I can't tell you how much I'm always impressed with the helpfulness of people on this board!

You guys have really given me a lot of good thoughts on the matter. I was thinking of a small trip in Oct of next year. My daughter will be 6 and my son will be just shy of three, so still free. We were able to take my daughter to MK one day as part of a very inexpensive FL trip when she was two, and she was young, but it was still wonderful.

With kids being 3 years apart, what do you think is a good time to shoot for? I thought next year would be a WONDERFUL age for DD, and save a little money with DS. But because we plan only a small trip, it doesn't really save us that much compared to waiting till after he's three. But then I want to make sure my daughter is young enough to be really amazed and enchanted, and 6 seemed like a good age. When does a little girl start getting past the age where it all seems real and magical? Should we plan to get her there by 7? 8?

My kids are also 3 years apart and are and will be 3 & 6 when we go in October, both of them will have birthdays shortly after we get back, so they will be "old" 3 & 6. LOL I think this a great age to go. My DD is 6 and she's still into the princesses and Tink and believing that the characters are real, not just costumed people. My son is 3 and this will be his first trip. He's totally into the movie Cars and recently discovered Woody from Toy Story. He's gonna LOVE it, I know it!

If I were to only be able to go to Disney once, I would probably choose the ages of 6-10. Young enough to believe in the magic, old enough to be tall enough to enjoy most if not all of the rides and attractions.

 

[malibukelly]

Good question, we're in the same boat so it was very helpful to read these answers.

 

[vhazzard]

We have been saving for about a year for our vacation but I tried to make it part of the fun.The kids and I made a Mickey shaped progress thermometer and every time we make a deposit into the Disney fund we color in some more of it. It stays on the fridge and soon it will be filled up and we will be off to Disney world! I would post a pic of it but I can't figure out how to upload one

 

[abinormal]

I'm just starting to look into a trip, but in several years. We just pulled through some serious financial hardships and we are basically starting from scratch. Hopefully this is the last month we'll be using up all of our income and we can start an emergency savings.

Once we have a good solid emergency fund, and we're making contributions to our IRA again, then I'll be fine saving for a Disney trip. Even though we have butt loads of student debt. I figure as long as we are making our payments there's no need to feel guilty.

I want to save for a more inclusive trip, but I know Disney is a blast even if you are on a tight budget. The two trips I remember as a kid (age 7 and 17), we stayed with a relative, went one day to MK only, and brought in our own food. Still great memories.

 

[Happyjen27]

Regarding ages, the mommies I hang out with have told me that second grade was when the Princess phase wasn't "cool" anymore. Second graders are so jaded, LOL.

Using that piece of data, I convinced my DH to go to Disney again this year. DD will be in 1st grade in Dec, so this is the last year for princesses.

He bought it.

 

[RedHeadedFairy]

I'm just starting to look into a trip, but in several years. We just pulled through some serious financial hardships and we are basically starting from scratch. Hopefully this is the last month we'll be using up all of our income and we can start an emergency savings.

Once we have a good solid emergency fund, and we're making contributions to our IRA again, then I'll be fine saving for a Disney trip. Even though we have butt loads of student debt. I figure as long as we are making our payments there's no need to feel guilty.

I want to save for a more inclusive trip, but I know Disney is a blast even if you are on a tight budget. The two trips I remember as a kid (age 7 and 17), we stayed with a relative, went one day to MK only, and brought in our own food. Still great memories.

If you are planning on waiting a long time to go but plan on going in the next 5 years, it might by worth looking into the Disney Chase credit card to build the Disney points.

We use our premier card monthly for all of our daily expense & pay it off with each statement. (groceries, gas, insurance, utilities, everything that takes Visa) 1 reward dollar = $1 to spend on anything Disney... disney parks, stores, video clubs, cruises, etc. The only place that we can't really use this in the World is DTD at non-Disney merchants, but every other store, hotel, restaurant & activity inside of the World accepts this as payment.

Over 5 years we are usually able to rack up enough points to pay for our FL Seasonal AP & most of the hotel room expense. We did this in Oct, purchased our 3 AP & paid for 6 nights. All we had to cover out of pocket were souveniers, food & gas (we drive) AND we now have AP to use for the rest of the year when we can squeeze in weekend trips. (I realize this is not easy for everyone)

I don't think you'd see the same result with the regular (no annual fee) card or if you were trying to work with a short timeframe, but for long-term planners it can be like having an almost free vacation in your back pocket.

 

[abinormal]

Good tips, but unfortunately credit isn't an option for us. We used a card for the rewards points and found we were not very responsible with it. The temptation is too great and it contributed to our financial fallout.

Hopefully someone else can make good use of the helpful info!

 

[chimilady]

We save a little of each paycheck that goes into a Disney fund (with the former ING). Then at christmas, we played the Target Debit Card and coupon game and got about $100+ of free Disney money by stacking coupons and the 5% gift card.

I also opened up a Southwest Credit Card to get the free miles. But if you buy your tickets with your Southwest credit card, you get 2 miles for every $1, so that should pay for itself rather quickly.

Then my friend is a CM, I know, not an option for everyone, but she hooks me up with a discount on the room and the tickets.

And I plan on having our next trip around the Homeschool Days to take advantage of the cheaper pricing on the tickets.

 

[Southern Bell]

Just wanted to add that disney gift cards from you, your husband, grandparents, aunts, etc., for you and the children at Christmas, Valentines, Easter, Birthdays, Anniversary, etc., are good ways to help with a disney vacation also. I have recieved three so far, my Daughter has recieved several for herself and the children & we hope to recieve several more before our trip to Disney!

 

[chimilady]

ok, after re-reading I would make some changes. I would start by saving $100 a month now, so in 18 months, you'll have $1800. I would get a Target Debit card, which links to your regular Checking account and then I would buy Disney Gift Cards at Target for 5% off using your Target Debit card. I would wait until December to do this, and then I would stack with the $10 off coupons that come out, so you can get more bang for your buck. We are holding off now until December ourselves.

Then I would look at renting a timeshare offsite. I've seen those go for as little as $250/week for a 2BR. you could cook and bring in snacks to the park to save on food.

I would go during the Fall Homeschool days to take advantage of the discounts. you could get a 5 day park pass for under $200/person, so for a family of 4, that's about $800. (3 year olds need tickets)

And then I would drive, and factor in $15/day to park.