How much of a priority is Disney?

[queenofmykingdom]

What would you hold off on doing in order to go to WDW? College fund? Home improvements? New furniture? My husband is of the mindset that these things can be done later, we should do as much WDW while the kids are young. I'm not completely in that mindset...yet...

 

[lost*in*cyberspace]

Vacations should not come before necessary savings (retirement, college, etc.). There are many fantastic (and less expensive) things you can do with your kids besides going to WDW.

 

[eliza61]

Don't make it "one or the other". Open up a savings account for all the 3 things.

pay these accounts first. Sure it may take a little longer to get to Disney but you'd be surprised how quickly savings grow when you start doing it automatically.

When we were first married and our kids very young, that's what we did. we had a savings account for vacations, for the kids college. We did not start savings for retirement until a bit later because both of our jobs have really good defined pension plans, now most jobs have eliminated that.

Personally for me new furniture is last after vacations especially when my kids were younger. We had 3 kids and 2 dogs, our furniture went through hell. I didn't buy new furniture until recently and that's because my youngest is now in college out of state. LOL.

 

[queenofmykingdom]

We do have retirement accounts. And savings account.
Good point about the furniture. We have 3 boys, 3 dogs, and 3 cats. Probably not going to worry about that.
Hubby also gets a sizable bonus at Christmas. This would easily pay for our trip IF its the same as previous years. He says since its his bonus, we should spend it on fun.

 

[Granny square]

One of these days we will get new furniture. Probably when we move. Retirement, college affect forevers. Not risking our futures for vacations. But a little bit of consistent savings makes it possible for all kinds of possibilities.

I am happy to give up fast food meals, to cook from scratch, to drive an old car, and walk and run rather than have a gym membership.

 

[eliza61]

We do have retirement accounts. And savings account.
Good point about the furniture. We have 3 boys, 3 dogs, and 3 cats. Probably not going to worry about that.
Hubby also gets a sizable bonus at Christmas. This would easily pay for our trip IF its the same as previous years. He says since its his bonus, we should spend it on fun.

That's not uncommon. Many folks will use their tax refund for their vacations.

Another thing you could throw out there is, to split it in half. "guesstimate" how much the bonus will be and then some can go to a vacation fund, some can feed your house fixing account.

I think savings can be hard because so often we see it as "if we do XYZ, we can't do ABC". I'm the type that some times just setting a goal and seeing movement toward that goal makes me feel good. this way both of you guys are seeing a bit of progress toward a goal.

Now for me vacations are extremely important. I'm not giving them up. that being said, there were many a year where we couldn't do Disney so we had to do other things in line with our budget, but I will not ever give up my vacation time. for me it's a balance. (my dh saved, saved, saved and then died before 55 so evidently all his sacrifice was for nothing).

 

[crisi]

Nothing necessary. And retirement and college savings are necessary. Furniture, that might be necessary, I'm not sleeping on a bad mattress to get to Disney. But I might put up with a dated couch. Home improvements, again, if its necessary, it needs to be done. A new roof needs to be done. Granite counters don't. Is the carpet gross? Then it needs to be replaced.

If you aren't going to save for college and retirement when the kids are young, it will be too late. When they are just a little older, there will be other important experiences that pull on your money.

 

[dreamin_disney]

We've only been to WDW once . It was 4-5 years ago. It would be nice to go back but once might be enough. Airfare just makes it to expensive for us. We live in So cal and only go every few years. I would love to go on a vacation to somewhere every year but just cant afford to. Right now with the DIS budget board my mindset is on paying down bills. In the next two years my focus is to pay off debt and dhs car, and one home improvement hardwood floors (fake kind) to help with my allergies or redo front of the house, its wood and we'd like to stucco it and upgrade front window and make it bigger.
If we do the flooring home depo or Lowes always has 12,18 or 24 months offers , if we redo the front of the house that will be towards the end of the 2 years. After that I hope to have enough in vacation fund to relax on a vaca

 

[queenofmykingdom]

My kids have been a few times. It's just a place to go that everyone loves, so an easy choice. Maybe we'll try a local beach vacation. Then in a few years, we can go stay at our dream resort.

 

[KPetty725]

Retirement is a must, no loans for that. I believe in scholarships and already started applying for them (DD is 6) so we're not really saving for that, although both of our parents have accounts set up. We bought DVC specifically so we could go to WDW more often. The monthly fees are just factored into our budget. We do need to save more (our house is new now but that won't always be the case) but want to make memories with our kids too. It's a balancing act!

 

[martikus]

I don't think vacations should EVER come before necessities (retirement, mortgage, saving for unseen expenses, etc).

But if it is a choice between a new couch or a trip, then sure why not.

I don't think most people think this way which is why credit card debt is so high. I also don't think one should use their tax refund if it is the only way they can afford vacation. That means that tax refund really should be going to emergency savings or something.

 

[Dizisfun]

Disney or a New Couch???? Disney of course. I wouldn't let mortgage, electric, car payment, etc go to be able to afford Disney. And we have NO credit cards and would NEVER pay for a vacation with a credit card or a loan. If we don't have the $$$ we stay home. Paid them all off by 2007 when you knew that hubby was going to retire in 2009 and I just retired February of this year.

 

[Marionnette]

What would you hold off on doing in order to go to WDW? College fund? Home improvements? New furniture? My husband is of the mindset that these things can be done later, we should do as much WDW while the kids are young. I'm not completely in that mindset...yet...

Vacations, college funds, home improvements, new furniture, etc. are all line items in our budget. If I want money for a trip to WDW it comes from the vacation fund. The other areas don't suffer because of it. However, that river cruise in Germany might have to be postponed if we raid the vacation fund in favor of multiple Disney trips.

 

[MSSANDRA]

It call setting prioritizes. Retirement, college funds, bills etc come first. We pretty much have no debt, so we have more flexibilities. You have to decide for yourself how debt comes into play with your choices. We prefer to budget for travel over new cars, a new couch, lots of new clothes etc.

I urge anyone with children, or plans for children, to set up college funds early and be consistent with them. You never know what your children may choose and scholarships are NEVER a sure thing. College is expensive but a huge priority for us.

 

[Just People]

I tell my wife we are withholding having kids to go to Disney! ;-)

 

[tnd]

Disney is not a priority, but family vacations are. My husband and I have very busy, stressful jobs, and we really need the time away from work with our kids. We prioritize vacations over other discretionary expenses. For example, we drive modest cars which we run into the ground. We shop sensibly, don't spend a lot on clothes, etc. However, we are already saving a lot for retirement, college, and general rainy day funds.

 

[gracie1]

We've only been to WDW once . It was 4-5 years ago. It would be nice to go back but once might be enough. Airfare just makes it to expensive for us. We live in So cal and only go every few years. I would love to go on a vacation to somewhere every year but just cant afford to. Right now with the DIS budget board my mindset is on paying down bills. In the next two years my focus is to pay off debt and dhs car, and one home improvement hardwood floors (fake kind) to help with my allergies or redo front of the house, its wood and we'd like to stucco it and upgrade front window and make it bigger.
If we do the flooring home depo or Lowes always has 12,18 or 24 months offers , if we redo the front of the house that will be towards the end of the 2 years. After that I hope to have enough in vacation fund to relax on a vaca

We put in the laminate floors last year and they are the best!! You will love them! We got ours from lowes.

 

[purpledisneyprncess]

The way Disney makes me feel, and how happy we all are in Disney makes it a priority for us. Life is busy: work, school, busy sports schedules although that is fun , taking 1 week to be in a place that the 4 of us love, and making memories is priceless. We usually skip the very expensive Carnivals that come through our town and the local towns and save $ by not eating out all the time. I figure, all that $ that we are not spending doing those things, is money saved to be in Disney. I would not take money out of our children's savings, our savings, etc for Disney though. We make other sacrifices like I mentioned to do Disney once or twice a year. Right now my dad says not to go back to Disney, we could save that extra $3k and get new flooring when we buy a home, or new this or new that for the home. BUT, you don't get magical memories staring at a brand new floor.

 

[sweetdana]

I don't think vacations should EVER come before necessities (retirement, mortgage, saving for unseen expenses, etc).

But if it is a choice between a new couch or a trip, then sure why not.

I don't think most people think this way which is why credit card debt is so high. I also don't think one should use their tax refund if it is the only way they can afford vacation. That means that tax refund really should be going to emergency savings or something.

I agree with this. People know they have X extra dollars a year and spend 4 times that. I learned about debt 1st yr selling mortgages.. and ran from it 10 yrs ago..

Personally, I feel if you have 6 months saves (liquid for emergency), do the rest slowly. I would 100% take my kids on a VK prior to getting new furniture, ahead of finishing my basement, ahead of updating the yard, head of a big tub in my house, , or even buying high end clothes. (Many others feel differently, but this is me.. ). I do 100% max out my 401K every yr. and have since I got my 1st real job. and I haven't finance anything since understanding what debt really way.. 10+ yrs ago. .. and will be free of that in a yr or 2. I haven't specifically started coll funds, as I feel paying off debt is higher on the list then saving for kids coll. I only recently started saving for more than just Disney, emergency funds, paying off mortgage, and 401K. .. I do not regret this. I have no debt, tonz of memories, and old everything else.
Kids grow up fast, and VK is a time to enjoy. ***as a side note, Going else where is just as important.. no "only Disney" for me either.. we Disney more, but love the Macinaw Island adventures, or Great America trips.. and even the US trips.. but nothing like Disney. They really know how to do it.


When you go .. go all the way and enjoy every minute.

 

[mrsabbott]

No, Disney wouldn't come before necessities no matter how badly I want to go!

I had hoped that we could go next year (using part of our tax returns) but that money will go towards paying off credit card bills and some into our savings.

Disney will have to be something we save up for over time. I understand wanting to go while your kids are young enough to really be taken in by the whole "magic" of it all.. but if there are necessities that need paying then that should come first.