Best way to save for Disney Cruise

[erin1715]

My dream has been to take my parents on a cruise to Alaska, so I need to start saving ASAP. I am tentatively looking at summer 2018, although I may push it to 2019 if I can't save enough by then.

Anyway, I have a general savings account but I would like a separate place to put specifically for this cruise. I used to have a savings account with Capital One 360 and I loved that because you could create separate "pots" for different savings purposes. But, I closed that account and moved to another bank that gave a better interest rate and I don't think they offer the option of different "pots" of savings.

Does anyone have any ideas? How about the Disney Vacation Account? Is that worth it and will it provide better perks than an account that will accrue interest?

 

[gottalovepluto]

Perks? You're earning 1% interest ($20 disney gc per $1000 spent on vacay) and can have difficulty accessing the money. Not much in the way of perks imho. However, if you actually want to make it more difficult to touch the money this might be a good option. I'm not being sarcastic! I put money in gift cards to keep from spending it but I've never had to save up enough for a cruise. Do through research before opening and funding a DVA, there are lots of stories here on the boards of success but also a few of horrible, awful failures (although they did eventually get their money back). Personally those few stories are too much for me so in your shoes I would open a much more consumer friendly Ally Savings account for 1% interest (given to you in cash once a month) and use it for solely for vacation funds. The cash is accessible fast if you have an emergency but otherwise you know not to touch it and you don't have to go through Disney for IT support!

 

[havaneselover]

We cruise DCL every other year. My budget is tight. I book early, use a travel agent for a rebate, buy gift cards monthly at the grocery store and deposit them in my DVA, and pay for everything (including souvenirs, tips, excursions) with my dva.

 

[iivye]

I buy discounted Disney gift cards (through Target or Sams Club) and fund a Disney Vacation Account for all my cruises. I've never had any problems with my DVA but I've always used the money for cruises and never needed to get a refund.

 

[erin1715]

I just figured out that I CAN open another savings account separate from where I have my current savings, so I'm just going to do that. Thanks all!

 

[tink1970]

I agree with PP. I buy disney gift cards at Sam's whenever Discover or Chase Freedom has warehouses as a 5% cash back category- Sam's is usually 4-5% off for either the multipacks of $50 (50x3) and the $500 card. The $50 individual card is only about 1-2% discount. So that's 4-5% off plus 5% cash back on up to $1500 spent. This year Q1 is 5% for Discover, last year Q2 and 3 were warehouse for Chase Freedom.

If it is a quarter where neither card has the 5% back, then I use Target using red card (5% off).

Then all of these gift cards go into my DVA which returns 2% for every thousand dollars used in gift cards. Those are used onboard for excursions, gratuities, spa.

I also used a travel agent from dreamsunlimited (the sponsor of these boards) and we will have an onboard credit which will also be used for excursions, gratuities, spa and incidentals. Using a travel agent is free and in my case, we will receive $1000 OBC. Pretty nice!

This summer I'm taking my parents (and DH) on a European cruise. I used the above method and saved overall around 9%. While that may not sound like a lot, it's nothing to sneeze at, either

 

[CalDisneyMomof2]

Perks? You're earning 1% interest ($20 disney gc per $1000 spent on vacay) and can have difficulty accessing the money. Not much in the way of perks imho. However, if you actually want to make it more difficult to touch the money this might be a good option. I'm not being sarcastic! I put money in gift cards to keep from spending it but I've never had to save up enough for a cruise. Do through research before opening and funding a DVA, there are lots of stories here on the boards of success but also a few of horrible, awful failures (although they did eventually get their money back). Personally those few stories are too much for me so in your shoes I would open a much more consumer friendly Ally Savings account for 1% interest (given to you in cash once a month) and use it for solely for vacation funds. The cash is accessible fast if you have an emergency but otherwise you know not to touch it and you don't have to go through Disney for IT support!

Slight correction - $20 per $1,000 spent or 2% of $1,000. Not 1%. I suppose it could be 1% if you spend $1,999.99 and only get $20 for your effort! In that case I'd ask to load money on my onboard account which qualifies for the bonus. So technically, it is 1-2% depending on how much you spend.

Anyway, keep in mind that the bonus promotion for the DVA is only valid for purchases made by December 31st, 2017. There has been no word of that being extended. Not saying it won't happen but that has been the end date for a very long time and it's getting closer and no change has been made.

I think the DVA is a GREAT way to to earn an extra ~2% but using a savings account PRIOR to paying is a great idea that way you're double dipping. You only need to have your account open for 120 days - you don't need to have your money in there for 120 days. So fund your account with the bare minimum ($10. Although some have set up a direct deposit for the future then cancelled it and kept the account open that way) and once you're ready to pay off the trip, take your savings and put it in your DVA. Again, this could all be moot if they don't extend the dates.

 

[Ariel484]

Book through a travel agent. They will offer onboard credits that you can take advantage of.

More tips here: https://www.mousesavers.com/disney-...dvice/disney-cruise-line-discounts-and-deals/

The biggest savings would come in if you're a Florida resident or if you're willing to take a gamble, wait and book a guaranteed room (see above link for explanation on that).

 

[havaneselover]

Book through a travel agent. They will offer onboard credits that you can take advantage of.

More tips here: https://www.mousesavers.com/disney-...dvice/disney-cruise-line-discounts-and-deals/

The biggest savings would come in if you're a Florida resident or if you're willing to take a gamble, wait and book a guaranteed room (see above link for explanation on that).

No FL resident rates for Alaska AFAIK.

 

[gottalovepluto]

Slight correction - $20 per $1,000 spent or 2% of $1,000. Not 1%. I suppose it could be 1% if you spend $1,999.99 and only get $20 for your effort! In that case I'd ask to load money on my onboard account which qualifies for the bonus. So technically, it is 1-2% depending on how much you spend...

Yikes that's an important correction! Thanks! Where was my brain this morning? Time for more I think!

 

[CalDisneyMomof2]

Yikes that's an important correction! Thanks! Where was my brain this morning? Time for more I think!

I mean, TECHNICALLY, if you're a glass half empty type of person, then sure, it could be 1% (or JUST slightly above) but really, it's anywhere from 1-2% depending on the spend amount

 

[tvguy]

I just figured out that I CAN open another savings account separate from where I have my current savings, so I'm just going to do that. Thanks all!

These days the key is FINDING money you can save, not the return on investment.