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-   -   The savings plan worked, trip almost paid off! (http://www.disboards.com/showthread.php?t=2993166)

Cirrius 09-15-2012 03:10 PM

The savings plan worked, trip almost paid off!
 
The backstory:

We took my son to Disney when he was 5 and my daughter stayed with the grandparents (she was 2 at the time). We told her when she was 5 that we would return to Disney for her first trip. We never mentioned it since, so were surprised at the beginning of the year when she started asking "I'm almost 5, do I still get to see Disney?"

Engage planning mode! This was a few months before my yearly work bonus, so we started planning the trip we always wanted to take: Christmas season at the Wilderness Lodge. We were looking at dates and talking through details when bad news hit - yearly bonuses were taking a large cut, and there was no money for Disney.

We broke the news to our children who were very upset. My son said the sweetest thing, he hung his head and said he understood we couldn't take him, but his sister deserved her first trip because he wanted her to see the "real magic" of Disney, and that he could still have fun at grandmas house. My daughter cried and cried, she had remembered the promise for years.

So I sat back and looked at our finances and our disposable income that goes to restaurants, movies, etc. We had 8 months, we could do this. I priced out options, moderate resorts, no dining, dining combinations with the resort we wanted, and finally worked out a plan. We could still have the trip we started planning, and at the same time have a great opportunity to teach my kids about saving, working towards a goal, and making sacrifices.

I drew up our savings board, and broke down the cost of each major portion of the trip. I also gave each of us a "star wall". When the kids saved their allowance and put it towards the trip they got a star. Mom and Dad got an area for savings too (spending less on lunch, ebay'ing old things we didn't need), and an area for teamwork savings - this was money leftover at the end of each month for lowering bills (like turning off all the lights around the house) and skipping costly family activities.

When my kids first looked at it, they said we'd never make it! It's been great to have them see, week by week, the savings line inch it's way up the chart, and know that we are all doing this together. We now have 4 weeks until our payoff date, and only have about $400 left to pay! We'll continue saving after the payoff to cover extra spending for souvenirs and the like.

I'm so happy that we didn't blow off the trip due to lack of immediate funds, my daughter gets to have her first trip, my son gets his second, the wife gets to stay at the resort and date she wanted, and we get to enjoy that we did this together as a family.

Here's a shot of the "almost there" savings board:
http://www.hipnoptic.com/pat/disneytrip.JPG

I know we could have cut costs with a cheaper room and less money on food, but the WL has been a long wanted destination, and my wife has celiac so we do all sitdowns...it's the ONLY vacation destination where she can be carefree on food!

Anyway, I thought I'd share, thanks for reading! pixiedust:

mommyof3grlz 09-15-2012 03:41 PM

Love it
 
I love the chart. I think it is great what you have done. Have fun!

mayaflysmama 09-15-2012 03:56 PM

I love this and what a great visual for the kids (and parents)! I may have to copy this format in the future.

Have a great trip!

bellaally 09-15-2012 04:32 PM

This is a great idea for every trip, I would do this for my boys so they can better grasp the concept of saving money and putting it towards something. Plus saving instead of getting little treats here and there and you can put it towards something huge.

P.s great job dad lol, look at all those stars

Swimnoid 09-15-2012 04:33 PM

That is FANTASTIC! Good job. Your family (especially the kids) will have more fun knowing everybody helped. Have a great time!

Pixie Princess 09-15-2012 04:36 PM

Quote:

Originally Posted by mayaflysmama (Post 46168503)
I love this and what a great visual for the kids (and parents)! I may have to copy this format in the future.

Have a great trip!

Ditto! And how great is your son for volunteering to stay behind so his sister could get her first trip?! That made me cry!

DisFanEY 09-15-2012 04:38 PM

So, so happy for you! What a great post...we're scrimping too to get to the next trip, and I do think we're all learning valuable lessons...
Just wanted to wish you all a great, great trip! It will be even more meaningful and extraordinary. :)

Tonka's Skipper 09-15-2012 04:44 PM

Quote:

Originally Posted by Cirrius (Post 46168183)
The backstory:

We took my son to Disney when he was 5 and my daughter stayed with the grandparents (she was 2 at the time). We told her when she was 5 that we would return to Disney for her first trip. We never mentioned it since, so were surprised at the beginning of the year when she started asking "I'm almost 5, do I still get to see Disney?"

Engage planning mode! This was a few months before my yearly work bonus, so we started planning the trip we always wanted to take: Christmas season at the Wilderness Lodge. We were looking at dates and talking through details when bad news hit - yearly bonuses were taking a large cut, and there was no money for Disney.

We broke the news to our children who were very upset. My son said the sweetest thing, he hung his head and said he understood we couldn't take him, but his sister deserved her first trip because he wanted her to see the "real magic" of Disney, and that he could still have fun at grandmas house. My daughter cried and cried, she had remembered the promise for years.

So I sat back and looked at our finances and our disposable income that goes to restaurants, movies, etc. We had 8 months, we could do this. I priced out options, moderate resorts, no dining, dining combinations with the resort we wanted, and finally worked out a plan. We could still have the trip we started planning, and at the same time have a great opportunity to teach my kids about saving, working towards a goal, and making sacrifices.

I drew up our savings board, and broke down the cost of each major portion of the trip. I also gave each of us a "star wall". When the kids saved their allowance and put it towards the trip they got a star. Mom and Dad got an area for savings too (spending less on lunch, ebay'ing old things we didn't need), and an area for teamwork savings - this was money leftover at the end of each month for lowering bills (like turning off all the lights around the house) and skipping costly family activities.

When my kids first looked at it, they said we'd never make it! It's been great to have them see, week by week, the savings line inch it's way up the chart, and know that we are all doing this together. We now have 4 weeks until our payoff date, and only have about $400 left to pay! We'll continue saving after the payoff to cover extra spending for souvenirs and the like.

I'm so happy that we didn't blow off the trip due to lack of immediate funds, my daughter gets to have her first trip, my son gets his second, the wife gets to stay at the resort and date she wanted, and we get to enjoy that we did this together as a family.

Here's a shot of the "almost there" savings board:
http://www.hipnoptic.com/pat/disneytrip.JPG

I know we could have cut costs with a cheaper room and less money on food, but the WL has been a long wanted destination, and my wife has celiac so we do all sitdowns...it's the ONLY vacation destination where she can be carefree on food!

Anyway, I thought I'd share, thanks for reading! pixiedust:


Well done there Dad and family!:thumbsup2

debrapagliasotti 09-15-2012 04:45 PM

Great job :thumbsup2

Hope you and your family enjoy your holiday trip :)

redheadedmermaid73 09-15-2012 05:20 PM

I think its great! You're teaching your children a valuable lesson that will help them when they are older. Plus I bet the trip will mean more when they know how much it cost and how hard everyone worked to save up for it.

1stvisit0909 09-15-2012 05:29 PM

This brought tears to my eyes! What an awesome idea, and what a great job you all did! Thats very mature for two little kids!!! You should be very proud of your family, and make no excuses about where/how much, y'all deserve it!

focusondisney 09-15-2012 05:56 PM

Quote:

Originally Posted by Pixie Princess (Post 46168769)
Ditto! And how great is your son for volunteering to stay behind so his sister could get her first trip?! That made me cry!

Me too! What an awesome big brother! I hope your family has a very magical trip! :goodvibes

Jacksonev1 09-15-2012 06:14 PM

Awesome Job!! This vacation will be a special memory for your family--they will know it was earned!!

Have an amazing vacation!

:beach:

KellyNY 09-15-2012 06:25 PM

This is a great way to have a trip and to teach kids to save when you have a goal in mind!
Great job! I may adapt your idea. May I ask what those stars represent, they are different colors?

amccu18007 09-15-2012 06:27 PM

Fantastic! So happy for you! I think that I may follow your lead and strt saving for our march trip now so the kids can participate!


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