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Personal Finance Expert Rachel Cruze recently shared the results of a LendingTree Surveywhich revealed that 45% of families with children under 18 have gone into debt to experience the magic of a Disney family vacation.
Here's what Cruze had to say about Disney and debt, plus a few tips for budgeting for a disney trip.
What Cruze Says About Disney and Debt
“It’s not a rite of passage into humanity to go to Disney World, but as parents, that’s what we tend to believe,” Cruze said in a recent Instagram post.
She cautions, however, against “going backward” financially just so your family can enjoy the magic of Disney. Her solution is to create a vacation budget and proactively save toward your goal, because “when it comes to vacations, the best ones are the ones that don’t follow you home in the form of a bill.”
How much does a Disney family vacation cost in 2024?
Disney World offers plenty of activities for the whole family, with four theme parks and two water parks offering access to more than 120 attractions. You can also choose from more than 50 entertainment options and 140 dining destinations. But all this fun also comes with a fun side. high price tag.
Mouse Hacking Estimates A family vacation to Disney World for two adults and two children costs $6,865. This estimate includes airfare and transportation, a five-night stay at a Disney resort, five-day Disney tickets and food. It also allows for some expenses. Access to Lightning Lanea ticket add-on offering visitors faster access to certain park attractions.
Families on a tighter budget can enjoy the magic of Disney for around $4,735, though that's for a shorter four-day stay, with only three days in the parks. A family that indulges in plenty of Disney extras could spend as much as $10,696 or more.
How can families enjoy Disney without going into debt?
The Cruze has some tips that can help you plan an affordable Disney World vacation for your family – and planning is key to avoiding debt.
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Cruze recommends creating a vacation budget and a sinking fund so you have enough money to pay for your Disney vacation in full rather than paying off a credit card bill for months or years after the trip. A sinking fund is a way to gradually save for a vacation or other financial goal over time.
Let's say you want to travel in 18 months. According to Mouse Hacking's estimates, you'll need to save at least $4,700. By putting $277 per month into a sinking fund for 17 months, you'll have the money to make the trip on schedule.
Here are some other ways to save on a Disney vacation that Cruze recommends.
Don't pay to park
A Disney Park Hopper ticket lets you visit multiple Disney parks in one day, but the privilege can cost up to $50 to $70 more per ticket. Cruze instead advised checking for ticket discounts before booking. Disney often offers special ticket deals on its website.
Skip the Disney Meal Plans and Bring Your Own Food
You can buy a Disney Prepaid Dining Package If you're staying at a Disney hotel or resort, but depending on the package, it can cost anywhere from $57 to $95 per day for adults and $24 to $27 per day for kids. So Cruze recommends preparing some meals in your hotel room and bringing food and drinks into the park, which Disney allows.
Enjoy a discount on a Disney hotel or stay off-site
Disney has over 25 hotels, some of which Disney considers “economy accommodations.” If you're looking to stay at a Disney property, Cruze recommends choosing one of these more affordable options and looking for special rate deals.
Choosing a hotel away from Disney property can also be cheaper than the more expensive Disney resorts, but as Cruze pointed out, you'll need transportation to get to the parks. If it's a rental car, you'll also have to pay for parking, so be sure to factor that cost in when deciding where to stay. Transportation is free for anyone staying at a Disney hotel or resort.
“Bring home memories, not debts”
According to Cruze, your kids will enjoy your vacation “10 times more” if you don't worry about how long it will take to pay off the trip. She stressed that you should bring home fond memories rather than Disney debt, because those memories can last a long time.
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