Budgeting Disney Money Idea

[Disneychix]

So I was looking at menus yesterday (for my trip that's 9+ months away!) and decided I think I'll start putting aside money for food. I plan to pick one meal per person every week or every few days and put money either onto a giftcard or into an envelope.
For instance: Yesterday I was craving a tuna sandwich from Columbia Harbour House. So I put $10 into an envelope for CHH Maybe I'll make a list of what I'm putting in for which meals, or maybe it'll just be a fun way to 'buy' my food ahead of time.

I figure I'm so far in advance of my 6 day trip that even if I just did one meal a week per person (we stay DVC so many meals will be in the room and not 'count') I'll be all set by the time of my trip.

 

[worm761]

I do something similar on a spreadsheet. I have the categories listed from most important to least. For instance, gas, hotel, tickets, food, party tickets, souvenirs in that order. Then as I add money to my savings account for Disney, I subtract it out of the budget. Once I have on category paid for, I move on to the next one. It is easier to whittle away at the smaller numbers than at the whole amount. I try to pay at least half of Disney with my rewards programs. And I break the food down to the meal like you are doing.

 

[tzeitel]

Very cool idea! I can see kids getting into it too

 

[Disneychix]

Very cool idea! I can see kids getting into it too

Yes, now that you mention it, my DS would have fun with this. My DS has already said he wants Chef Mickey's. I can have him save $15 for his meal. Of course, I probably will want to wait until November for this since he'll probably think if he saves the money he'll get to go the next day

 

[OLT2004]

You Want To Keep Your Cash Liquid - Meaning On Hand & Available...

I would not buy gift cards...
Who knows 9 months out what could happen and what could change...
Now you are stuck with gift cards...Understand???

Envelope System....Yes - But not earning any interest...For Nine Months...

How about open an ING Direct account/Cap One 360 or whatever it is now called...You get a sign up bonus $$$ - It pays decent interest, given todays rates, you can shovel/transfer money into it 24/7 from your checking account.
Saved $10 on the grocery budget this week...Send it to ING...

It can also improve your credit score. You now have a Savings Account.
You can also withdraw from it, if needed and plans change.

Good Luck with your Vacation Budgeting!

 

[tinkerone]

So I was looking at menus yesterday (for my trip that's 9+ months away!) and decided I think I'll start putting aside money for food. I plan to pick one meal per person every week or every few days and put money either onto a giftcard or into an envelope.
For instance: Yesterday I was craving a tuna sandwich from Columbia Harbour House. So I put $10 into an envelope for CHH Maybe I'll make a list of what I'm putting in for which meals, or maybe it'll just be a fun way to 'buy' my food ahead of time.

I figure I'm so far in advance of my 6 day trip that even if I just did one meal a week per person (we stay DVC so many meals will be in the room and not 'count') I'll be all set by the time of my trip.

what a cute idea, love it! it sounds like such fun as well, i'll have to give it a try.

 

[davedmaine]

You Want To Keep Your Cash Liquid - Meaning On Hand & Available...

I would not buy gift cards...
Who knows 9 months out what could happen and what could change...
Now you are stuck with gift cards...Understand???

Envelope System....Yes - But not earning any interest...For Nine Months...

How about open an ING Direct account/Cap One 360 or whatever it is now called...You get a sign up bonus $$$ - It pays decent interest, given todays rates, you can shovel/transfer money into it 24/7 from your checking account.
Saved $10 on the grocery budget this week...Send it to ING...

It can also improve your credit score. You now have a Savings Account.
You can also withdraw from it, if needed and plans change.

Good Luck with your Vacation Budgeting!

I agree. The whole gift card idea sounds a little silly and pointless to me. I scratch my head when I hear about people piling up Disney gift cards throughout the year. Keep the cash and put it in the bank.

 

[worm761]

You Want To Keep Your Cash Liquid - Meaning On Hand & Available...

How about open an ING Direct account/Cap One 360 or whatever it is now called...You get a sign up bonus $$$ - It pays decent interest, given todays rates, you can shovel/transfer money into it 24/7 from your checking account.
Saved $10 on the grocery budget this week...Send it to ING...

This is what I do and why I keep mine separated on a spreadsheet. I like earning interest even if it is only a few pennies. But I shovel any extra money into my Capital One 360 account as often as I can.

 

[Disneychix]

You Want To Keep Your Cash Liquid - Meaning On Hand & Available...


Envelope System....Yes - But not earning any interest...For Nine Months...

How about open an ING Direct account/Cap One 360 or whatever it is now called...
It can also improve your credit score. You now have a Savings Account.
You can also withdraw from it, if needed and plans change.

Good Luck with your Vacation Budgeting!

Thanks, I agree with the gift cards. That's why I said I 'might' go that route. Maybe I'll just put a lot on a GC when it's closer to go time. I'm a Disney CC user and I like to use that while at WDW and pay off after I get home.

However, I disagree about opening a savings account for this. I already have a savings account, the kids have savings, etc. I just got my money OUT of ING (whatever it is now) and it was such a hassle to have that account. I would never do it again. For the measly $1.00 I'd earn on $500 over 9 months there's no way I'd open an account for that.

 

[we3travellers]

I love your idea of putting a little away at a time! It's so much easier than having to come up with that $1500 or whatever a couple of weeks before a trip. Plus, my DH just says to me few days before "so how much US cash do we need?" I'd love to just say "nothing, I have it all" I am doing something similar now to pay for a couple of bigger options on our Sep trip. I'd like enough to buy tkts for MNSSHP, Hoop De Doo, and a day at BB. If I'm out and about and am tempted to go through a drive thru for lunch, say McD's, I resist (most times ) and put that $5 in my trip envelope. When I get a significant amount, I will turn it in to US when the rate is good.

 

[golf4miami]

Opening a savings account isn't for everyone and sometimes people have to 'trick' themselves into savings.

To be honest, I have no problem shoveling money into my savings account every time I get paid, however sometimes in order to keep myself from wasting the money on something stupid I will buy a $25 Disney gift card instead. This allows me to add to my savings for my future trip while also scratching my itch to 'buy' something. It works for me and I know I'll get use out of it eventually.

Bonus: When I get done saving I will have the excess gift cards on top of what I've already saved which basically guarantees I'll have an excess while on the trip.

 

[amylevan]

You Want To Keep Your Cash Liquid - Meaning On Hand & Available...

I would not buy gift cards...
Who knows 9 months out what could happen and what could change...
Now you are stuck with gift cards...Understand???

Envelope System....Yes - But not earning any interest...For Nine Months...

How about open an ING Direct account/Cap One 360 or whatever it is now called...You get a sign up bonus $$$ - It pays decent interest, given todays rates, you can shovel/transfer money into it 24/7 from your checking account.
Saved $10 on the grocery budget this week...Send it to ING...

It can also improve your credit score. You now have a Savings Account.
You can also withdraw from it, if needed and plans change.

Good Luck with your Vacation Budgeting!

While I agree with you on gift cards, I do have to point out that interest for nine months for something as small as a vacation budget isn't going to amount to much money (especially if you are talking about $10 here and $20 there). The current rate for ING is only .75%, so really, if envelopes are what work for someone, they aren't missing out on much.

And while I have an ING account from the days when their interest rates where in the 4% area, I can no longer recommend them to everyone without consideration. Their rates are only marginally higher than the accounts my regular bank offers - without the hassles of moving money between banks and the benefits my bank offers for having multiple accounts with them.