Disney vacation account!

[duckey626]

Just set up my disney vacation account!! Does anyone else have one? I figured this would make things really easy to plan and save for.

 

[OnceUponAMelodye]

Yes! We put money aside for Disney vacations as well! It really helps to keep the funds separate so you can see exactly what's in the Disney account.

 

[TiffinyKaye]

I was initially confused by your post because I thought you were talking about a MyMagicExperience account (which you set up through Disney). I was like...."Don't you kind of need one of those to make your dining reservations and fast pass reservations? How does that help you save money---oh."

And then I got it. You mean a separate bank account.

Yes, yes I do. I learned in my early 20's that the "envelope" system was a great way to be semi-financially responsible. I'd take $60 from each paycheck, and divy up $20 each for three separate envelopes (wedding, Christmas, and one day having a kid--LOL!). As I got older (I'm 30 now), and when I broke up with the guy I was with at the time...I realized I probably wouldn't have kids, and that I'd never get married. I kept the Christmas envelope though, because I liked the idea of knowing how much I'd have for Christmas every year--and KNOWING I had it.

You get older though and realize, "Hey, gee! It's really easy to steal from an envelope if your house gets broken into" and stuff like that. So, I, as you have discovered, created an electronic envelope system by opening up several new accounts through my credit union. While I've done away with the "baby" savings (DF doesn't want kids--sad!), I do have money market accounts set up for both my Christmas savings and Disney (though right now, it's labeled "Disney Wedding/Vacation"--because they're kind of synonymous for our Florida trip!). Each check, I have an automatic transfer to both.

As much as it sucks to see it go from my checking account...I'm really excited for pay day to see portions of the check go into savings for those other expenditures. It DOES create a sort of peace of mind to be like, "Okay--I KNOW how I'm going to pay for this now."

Well, sorta. I know Christmas is covered. The wedding? Meh...we'll see. I'm kind of sad I won't get my BEO until mid-late October now (which throws off my savings attempts a bit, because I don't know how much I'll really need)...but I will say it certainly helps to have a lot in reserve!

Tiffiny

 

[turkey1031]

If you mean a "disney vacation account" which has its own website (Google it) then yes I do. I've been buying the disney gift cards at target for the 5% off and loading them all into my vacation account. I haven't booked my trip yet for October 2015 but this makes saving for the trip easy and I plan to put at least $3000 in the account for the trip so that's $60 of free disney money. It'll make the payment process much easier since I'll only have to give my vacation account number instead of reading off a bunch of gift card numbers.

 

[TiffinyKaye]

If you mean a "disney vacation account" which has its own website (Google it) then yes I do. I've been buying the disney gift cards at target for the 5% off and loading them all into my vacation account. I haven't booked my trip yet for October 2015 but this makes saving for the trip easy and I plan to put at least $3000 in the account for the trip so that's $60 of free disney money. It'll make the payment process much easier since I'll only have to give my vacation account number instead of reading off a bunch of gift card numbers.

HOLY CRAP! So that's what she meant. I had no idea this existed (just Googled it now). I have to explore it a bit more, but geez! That looks pretty nifty!!!

Tiffiny

 

[wilkeliza]

I don't have one but we have thought about using it before.

 

[duckey626]

I didn't know it existed either!!! I just spoke to a planner the other day who told me about it.. Tell me more about the 5% off gift cards at target!!! I am glad to load gift cards on there because we have a special gift card album (I love gift cards.. They are soo cute)

 

[turkey1031]

I didn't know it existed either!!! I just spoke to a planner the other day who told me about it.. Tell me more about the 5% off gift cards at target!!! I am glad to load gift cards on there because we have a special gift card album (I love gift cards.. They are soo cute)

There's a ton of threads that talk about getting the discount at target but the basic idea of it is that if you use your target red card or target debit card you can get 5% off of your purchase. It doesn't work on gift cards but disney gift cards are categorized as entertainment cards for some reason so the 5% discount applies to these. You may want to do a search on the dis for more detailed information if you need it.

 

[stasijane]

I just started one this week I dont have any specific trip or dates in mind but I decided to have $30 a paycheck go to the account. I am hoping I forget about this so I am not tempted but I figure in 2016 me and my DH can book a F&W trip and not have to deal with paying for it out of our personal money. I know thats a ways off but We have AP's so next year we just need a room so that isn't hard to get.

 

[allanahx]

The only problem with it is that it is for US residents only This would be very ideal for a lot of families

 

[stasijane]

The only problem with it is that it is for US residents only This would be very ideal for a lot of families

I was reading about this in another post. I thought there comments from people in Canada and how they had an account also. Not sure where you are located though

 

[Sweet Melissa]

I'm surprised people use Disney's service. Isn't it just a savings account, but with the giant drawback that you don't earn interest (but presumably Disney does while they hold on to your money for you)?

 

[lurkyloo]

That's a great point. You can do the same type of automatic monthly savings withdrawal through your own bank or an online bank like Capitol One or Ally Bank and actually earn interest on your money. Not as great as 5% back with Target gift cards, but better than 0% with Disney's service.

 

[4under4]

Ahhh, but in a way I am earning interest. $20 gift card for every $1000 I apply to my vacation. That's a 2% return. Not great I'll admit, but it is something. Further, since I use Target gift cards (which have to be purchased over time, well in advance of payment to Disney), I'm essentially getting interest on money that would otherwise be sitting idle once I had purchased the gift cards. And, it sure makes handling the volumes of gift cards a whole lot easier. I was very uncomfortable traveling with several thousands of dollars of gift cards... now I can enter them before I leave home, get a bonus gift card on top of it.

 

[wilkeliza]

I'm surprised people use Disney's service. Isn't it just a savings account, but with the giant drawback that you don't earn interest (but presumably Disney does while they hold on to your money for you)?

Some savings accounts have fees of you don't keep it over a certain amount or don't put enough in each month. They also can charge a fee for withdrawing everything to pay.

I just had that problem with my personal savings. Had to withdraw money due to an emergency and what was left wasn't enough to cover the minimum so I lost everything that was left due to fees over several months.

 

[Sweet Melissa]

Some savings accounts have fees of you don't keep it over a certain amount or don't put enough in each month. They also can charge a fee for withdrawing everything to pay.

I just had that problem with my personal savings. Had to withdraw money due to an emergency and what was left wasn't enough to cover the minimum so I lost everything that was left due to fees over several months.

That sucks. There are some good deals to be found for savings accounts, though. My CU only requires I keep $1 in savings, but they incentivize saving more by offering 7.99 APY on the first $500 in the account. It's definitely more beneficial to me than letting my money work for Disney.

 

[clemsongirl1974]

help! I have 900$ in my Disney vacation Savings. I called to make a payment towards my trip and was told that I had to pay my travel agent directly. I misunderstood that and its my fault. So I asked for a full refund 7 days ago and received nothing yet. I paid that $900 with probably about 20 Disney GC. Its my understanding that they will credit it back to those gift cards? But heres my problem....... I didn't save the gift cards once I used them! Help- what can I do? Ideas?

 

[wilkeliza]

help! I have 900$ in my Disney vacation Savings. I called to make a payment towards my trip and was told that I had to pay my travel agent directly. I misunderstood that and its my fault. So I asked for a full refund 7 days ago and received nothing yet. I paid that $900 with probably about 20 Disney GC. Its my understanding that they will credit it back to those gift cards? But heres my problem....... I didn't save the gift cards once I used them! Help- what can I do? Ideas?

You need to call guest services and see what can be done. Money is always refunded to the original payment form.

They may send you a new gift card.

 

[clemsongirl1974]

You need to call guest services and see what can be done. Money is always refunded to the original payment form.

They may send you a new gift card.

I checked and my TA had no clue about this- she said I couldn't pay that way. So I am still waiting on a response from CSR about the request for full refund . Thanks and hoping for luck . $900 is a lot!

 

[stasijane]

help! I have 900$ in my Disney vacation Savings. I called to make a payment towards my trip and was told that I had to pay my travel agent directly. I misunderstood that and its my fault. So I asked for a full refund 7 days ago and received nothing yet. I paid that $900 with probably about 20 Disney GC. Its my understanding that they will credit it back to those gift cards? But heres my problem....... I didn't save the gift cards once I used them! Help- what can I do? Ideas?

Did you get this figured out?