Happy dance items: got my federal refund today, a day earlier than expected!!
Less happy dance: it is too late to reschedule the automatic payment for the one credit card. So, just scheduled a 2nd payment for the remainder of the balance. 
)
Since you asked...
Now, I need some advice, please.
My original estimate on my tax refunds (state and federal) was going to be just shy of $4100. The final amount wound up being $3650.
What I've done so far is: bought gift cards from Target for $380 ($400 worth before redcard discount). Used those to pay for my 5-day parkhopper tickets to DisneyLand ($310) and my PhotoPass+ ($50 +$19.95 on cc - should have ordered on the phone instead of online, but it leaves me with a $40 gift card instead of a $20, so not a total waste).
Paid the remainder on one cc ($1320).
Based on how I have things separated out, this leaves me with $460 left from state refund (the trip fund), and $1490 left from federal (the "pay off fund")
What I'm facing is that my other credit card I wanted to pay off has $1590 on it (so about $100 more than is left for pay off amount) and I still have to pay for my rental car (reserved for the week at $140 not counting "loss of use" insurance), my ECV (reserved for $210 including damage insurance), and am currently estimating $500 for food and $300 for souvenirs. (I doubt that I'll eat that much nor spend that much, but I'd rather bring money back than wind up needing to wash dishes for dinner
So, what I'm considering is - pay the remainder of the federal refund to the one CC. Between that and my regular payments ($60/week from my 2nd job), it should be paid off before I leave. Bite the bullet and put the rentals on that CC and any souvenirs I decide to buy, and use the rest of my state refund for gift cards for dining. Because of the closing dates on the CC, if I make the payment before next Wednesday, then nothing will accrue interest until May, and by then I should have it paid off again (by snowballing from the one that I paid off already over). Then use my remaining state refund to get $500 in gift cards ($475, so I'd need to chip in $15 from my regular budget) to pay for food and souvenirs (before using the CC).
Or, I could only pay $1000 from the federal to the CC, leaving about $600 on it to pay off on regular payments, and use the remaining to pay cash for the rentals and souvenirs (still planning to use state refund for $500 in gift cards for food).
Alternatively, a couple of my ADR's could be canceled. I made them based on the recommendations from people familiar with DL; since this was my first trip and it is much easier for me to go to WDW I was trying to fit in ALL the recommended places. But, while Steakhouse 55 looks really good, it is also one of the most expensive places I'll have ever eaten at, and I've eaten at RainForest Cafe before (it's just one of my favorite places).
Or, does anyone have a better idea?
Thanks
Since you asked...
Personally, I would cancel the more expensive ADRs & cut the souvenir estimate to around $30.
I have been on vacation since we started paying down our debt but we do try to stick with low budget options and remember that just "being there" is already a splurge.
For example, over Easter break we'll be sailing on DCL for a 4-night cruise. Instead of doing the Atlantis waterpark excursion (at $169 pp x 3= $507) we'll stay on the ship while we dock in Nassau and enjoy the half-empty ship and all the entertainment that we already paid for with the cruise fare.
So instead of feeling bad that we're missing Atlantis, I'd rather focus on the fact that we're still getting to cruise and I would otherwise be at work.
Why not set a goal to return in the future (debt-free) and try all the fancy restaurants then?
Jmho
Since you asked...
Personally, I would cancel the more expensive ADRs & cut the souvenir estimate to around $30.
I have been on vacation since we started paying down our debt but we do try to stick with low budget options and remember that just "being there" is already a splurge.
For example, over Easter break we'll be sailing on DCL for a 4-night cruise. Instead of doing the Atlantis waterpark excursion (at $169 pp x 3= $507) we'll stay on the ship while we dock in Nassau and enjoy the half-empty ship and all the entertainment that we already paid for with the cruise fare.
So instead of feeling bad that we're missing Atlantis, I'd rather focus on the fact that we're still getting to cruise and I would otherwise be at work.
Why not set a goal to return in the future (debt-free) and try all the fancy restaurants then?
Jmho
Truly not meaning to sound snarky, but given options A and B, you both chose Door Number 3.
I do appreciate the input, and I did include the idea of dropping some reservations, but I guess I phrased my question badly. What I really am trying to ask is "How should I spend the remainder of my refunds to maximize paying down (or paying off) the one credit card given the upcoming estimated costs?"
Yes, by reducing the number of ADR's and purchasing fewer souvenirs, that addresses the implied "I don't want to add back to my cc" but of the $1950 I have on-hand right now, how should I split it out to pay:
- CC with $1590
- car rental at $140 + loss of use insurance
- ECV at $210
- food for 7 days (currently with 6 ADR's estimated to max at about $500)
- souvenir(s) (current estimate max at $300, expectation of about $120)
Yes, cutting ADR's and souvenirs will reduce the last 2 somewhat, but they were in all honesty over-estimates and not hard numbers. I don't make it a habit to order the most expensive appetizer, entree, AND dessert when I eat out (the method I used to calculate the max); I don't think I've ever ordered an appetizer AND dessert in my life.
Dropping some or most of the ADR's and reducing the amount to spend on souvenirs would (most likely) let me get by with the $500 in gift cards, which I planned to purchase for the $475 (or a combination of gc and cash), to handle all food and gifts for the week, but still leaves the issue of then having $1475-ish to pay for $1950 + of non-negotiable items.
Truly not meaning to sound snarky, but given options A and B, you both chose Door Number 3.
I do appreciate the input, and I did include the idea of dropping some reservations, but I guess I phrased my question badly. What I really am trying to ask is "How should I spend the remainder of my refunds to maximize paying down (or paying off) the one credit card given the upcoming estimated costs?"
Yes, by reducing the number of ADR's and purchasing fewer souvenirs, that addresses the implied "I don't want to add back to my cc" but of the $1950 I have on-hand right now, how should I split it out to pay:
- CC with $1590
- car rental at $140 + loss of use insurance
- ECV at $210
- food for 7 days (currently with 6 ADR's estimated to max at about $500)
- souvenir(s) (current estimate max at $300, expectation of about $120)
Yes, cutting ADR's and souvenirs will reduce the last 2 somewhat, but they were in all honesty over-estimates and not hard numbers. I don't make it a habit to order the most expensive appetizer, entree, AND dessert when I eat out (the method I used to calculate the max); I don't think I've ever ordered an appetizer AND dessert in my life.
Dropping some or most of the ADR's and reducing the amount to spend on souvenirs would (most likely) let me get by with the $500 in gift cards, which I planned to purchase for the $475 (or a combination of gc and cash), to handle all food and gifts for the week, but still leaves the issue of then having $1475-ish to pay for $1950 + of non-negotiable items.
Then at the end you asked "or does anyone have a better idea."
