How do you save for your trip?

[littlbugmom]

We normally pay for all vacations with a portion of our income tax return that year. For our next Disney vacation in 2010, we want to do it differently. We'd like to pay on it monthly from now until then and have it paid off by the time we go. We just feel it's smart to pay for it a little bit at a time, instead of using that chunk of tax money.


Do you have suggestions for paying monthly on a future vacation? We will be staying off property so I'm not sure Disney would have a way to help us pay on the vacation?

 

[DISNEYNV]

Good question! We also use a portion of our tax return, but my parents use a vacation club they set up through their bank. They just have a set amount put into it automatically each week. That might be an option especially if you get interest tacked on we also put loose change and dollars into a jug. Over a year you would be surprised how much it adds up and the kids can help add to it and take it to the bank before your trip.

 

[jennarooski]

We have also been planning for a while And we only have 2 days to wait

We bought the kids tickets last year and at that time I bought a disney gift card and added money to it each month. Also we asked for disney money for christmas from everyone, for us and the kids. That was great! Also I watched sales online and have all disney shirts and toys for all the kids to have a little gift each day. This way they have their fun clothes to wear and gifts to bring home and it didn't cost a ton, plus it was already paid for!

Good luck!

 

[puffkin]

I don't think this will help you this year anymore, but this what we do:

I set up the dependent care account ($5000) and medical account ($1000) at work. It comes out of my pay pre-tax every pay check. The dependent care is our vacation money for the year. I use my Disney Visa to pay for all vacation expenses. When the bill comes, I submit for reimbursement from the dependent care account and then pay the Visa. I forget about the money just accumulating there and it is a pain to submit the reimbursement, so it works out well for vacation saving! Plus it is pre-tax, so we save even more!!!!

The health care account I will submit my receipts sometime in November and use that money for all our Christmas and holiday expenses!

 

[kristinw3girls]

We always book w/ AAA. I leave a $200 deposit and then I pay as I am able. If we get extra $ at any time, I call the office up and make a payment. We also book 1.5 years ahead of time so there is always enough time. We just came back from a $7000 December trip, and it was paid entirely with my extra $. I have the bookkeeper at work take $300 out a month too. She gives me the extra check on the 30th and I take it to AAA. It makes it really painless.

 

[Justsyd2]

I have a vacation account set up at my bank. All of my paycheck goes into that account. DH's check is to live on. It works great for us.

 

[ajbefish62]

To pay for our December trip we are going to use the daycare FSA refunds. Rather than getting refunded once a month, we will wait until payment is due / trip arrives.

 

[Marquis de Disney]

For my family, we set up a vacation account where a portion of our income tax returns go in as well as a portion of out bi-weekly paychecks. Since I have a small business on the side, I put all expenses on my Disney Visa card so by the time my trip rolls around, I end up racking a very decent amount of Rewards dollars which covers a good amount of daily expenses (meals outside of Dining Plan, souvenirs, tickets to special events, etc.). Since I usually book a year in advance for around the holidays, the amount we have saved for the trip ensures a long stay at a deluxe resort with enough money to enjoy all the extras...and usually with some left to roll for the following year's trip.

 

[rluey29]

I don't think this will help you this year anymore, but this what we do:

I set up the dependent care account ($5000) and medical account ($1000) at work. It comes out of my pay pre-tax every pay check. The dependent care is our vacation money for the year. I use my Disney Visa to pay for all vacation expenses. When the bill comes, I submit for reimbursement from the dependent care account and then pay the Visa. I forget about the money just accumulating there and it is a pain to submit the reimbursement, so it works out well for vacation saving! Plus it is pre-tax, so we save even more!!!!

The health care account I will submit my receipts sometime in November and use that money for all our Christmas and holiday expenses!

I didn't even know you could do this!! You mean you don't have to use the money in the pre-tax dependent care and medical accounts for those things in particular??

 

[llori7]

We also have a vacation fund. We put in about $40 a week. Plus we save our change and our $1.00 bills!! It adds up over the year. Our next trip isn't until Sept 2010 (sniff sniff) so we should be in good shape!

 

[Moeluv4u7]

20% of my check goes to a seperate account as well as all bonuses I get through the year- and if we need extra it comes from a portion of taxes we get back if any or our money market (which we have a large set amount deposited automatically every month into) - This will be or first Disney trip doing this- Up to now it has been for vacations that have been non-Disney- I am hoping that we have enough planned out to carry the "extras"- I have also picked up small Disney items at Target and Disney store as I see them on sale or in the dollar bin- This will take care of the small extras so my kids aren't hollering for a $10- glo light spinner or a $30 T-shirt even- We have decided a set amount for them for souvenirs and I plan to stick to it! If they choose a $30- T-shirt, so be it but that will mean they can't also get "xxx" unless they hold money back from another day to add it all together etc- We are also doing DDP and are DVC members so that is taken care of- Afer our first couple trips I imagine we will know exactly what we will always want to spend money on or what each of the kids will choose to collect (I am encouraging them to seek out a favorite type of item to collect so they are not always buying another stuffed Mickey to collect dust in their room or another blinking light toy or spinner light that will get broken or stop working) I hope that this will work and would love them to choose pin trading/collecting or even a favorite piece of Disney jewelry they will always save to buy- something that will hold meaning and value to them rather than "toys & junk"- Having a bit at a time put away makes it much easier to plan as well as budget what we will have- If no bonus comes one month then we will only have xxx spending money rather than zzz spending money and we must make it work! After the first couple times we will also decide if we will continue to do Dining Plan or start to cook meals in the villas- We can be very frugal if we have to- It's all about family togetherness and fun! If I can plan for the kids to have a new experience each time they go I know they will always look forward to trying a new thing and learn that it must be saved for!

 

[tammy1210]

We started last year with our stimulus check - put about half of it aside for our lodging - in another month or so, we had it paid for. Then I started working on the smaller stuff first - I put away money and kept watching for "deals" on Sea World and Universal tickets - bought then, then the Disney tickets, then the airfare finally went down a bit - lastly, we're still working on spending money and food money - when my NC refund ever comes in we'll take about half of that and be finished! Seems great to have about 3 months left, but have the trip paid for - and I still got to use my federal refund on some other stuff around the house and put some in savings!

 

[ancestry]

Ours was completely from our tax return.

 

[EnchantedPrincess]

I don't think this will help you this year anymore, but this what we do:

I set up the dependent care account ($5000) and medical account ($1000) at work. It comes out of my pay pre-tax every pay check. The dependent care is our vacation money for the year. I use my Disney Visa to pay for all vacation expenses. When the bill comes, I submit for reimbursement from the dependent care account and then pay the Visa. I forget about the money just accumulating there and it is a pain to submit the reimbursement, so it works out well for vacation saving! Plus it is pre-tax, so we save even more!!!!

The health care account I will submit my receipts sometime in November and use that money for all our Christmas and holiday expenses!

How does that work? I don't understand how you can use dependent care account for vacations? At my dh's work, they get audited all the time, and only get reimbursed for qualified expenses.

 

[tammy1210]

How does that work? I don't understand how you can use dependent care account for vacations? At my dh's work, they get audited all the time, and only get reimbursed for qualified expenses.

She has to submit the bill from where she paid her daycare, but you don't necessarily have to do it every time you pay - I often wait for about 3 months - I've paid the daycare for 3 months, but then wait and send the receipts in all at once - what you do with your REIMBURSED monies is up to you - but, you can't get the monies back unless you submit your receipt where you've paid it.

 

[puffkin]

She has to submit the bill from where she paid her daycare, but you don't necessarily have to do it every time you pay - I often wait for about 3 months - I've paid the daycare for 3 months, but then wait and send the receipts in all at once - what you do with your REIMBURSED monies is up to you - but, you can't get the monies back unless you submit your receipt where you've paid it.

Exactly. The money to fund the accounts comes out of my paycheck. I pay my daycare and medical expenses like normal. I then save those receipts and periodically submit for my reimbursement from the savings accounts. I can't get the money reimbursed unless I have paid qualifying expenses. When I get the reimbursement check I can do whatever I want with it. I hope this makes sense!

 

[waltskids]

We own DVC and that is paid off, so we just have monthly dues that just get paid every month, along with other bills. We keep an envelope to save money each paycheck for airfare, rental car, dining, etc. In addition, we use our Disney Visa and the reward dollars help out with the trips as well. Since DH and I are both teachers, any tax refund money goes to summer bills since we are both not paid in the summer at all. I do know alot of people who use their tax refund for vacations though.

 

[PatsMom]

Our DVC points are paid for and the monthly maintenance fees are just a budget item. I do like others with my pre-tax medical account - when I get my reimbursement check, it goes into a "vacation fund". Because it is my health insurance premiums, the reimbursement checks are actually way more than I spend on my vacations usually so the account tends to grow. When it does, I transfer money to our longer term investments.

When my income was lower and we actually had an employer for my DH who subsidized medical insurance, DD was young enough for daycare. I used my daycare pre-tax reimbursement checks for vacation money.