Is this normal for a $9,000?

[FairestOfThemAll37]

In all seriousness, how does a 13/14 year old save THAT much money? Babysitting, dog sitting, birthdays? Honest question. I think if I had NEVER spent a dime of all my birthday and babysitting money from age 6-14 (I'm 28 now) I might have saved $1500-$2000 in 8 years.

I played a lot of sports and was always involved in extracurricular school activities so didn't have too much time to babysit when I was old enough to do it.

This is what I've been trying to figure out! Especially as she says that the $9k is only 40% as the other 40% goes into college fund and 10% for fun use.

That means that she has over $21k. I cannot imagine how a 14yo has made that much money unless it's from a trust fund/stock account.

 

[teller80]

Because most 14 year olds who earn that much money are saving for college, not for a family vacation.

Or saving for a car.

 

[nugov2]

In all seriousness, how does a 13/14 year old save THAT much money? Babysitting, dog sitting, birthdays? Honest question. I think if I had NEVER spent a dime of all my birthday and babysitting money from age 6-14 (I'm 28 now) I might have saved $1500-$2000 in 8 years.

I played a lot of sports and was always involved in extracurricular school activities so didn't have too much time to babysit when I was old enough to do it.

My 10 yr old hasn't worked a day in her life besides chores and has over 5,000 in the bank. She doesn't spend any of her birthday or Christmas money though and my parents and in laws give all of kid's money for report cards etc. I will add that twice she has asked for money for birthday, Christmas and did extra chores at the grandparent's house to pay for an expensive soccer camp that dh and I told her she had to pay for, but actually never took a penny from her. We thought it was important she not think it was just handed to her. So she has an extra 1,000 she doesn't realize she has from that. She is a money hoarder though and never wants something once I tell her she has to use her own money. All of my kids also have savings bonds in addition to their savings accounts that were bought for them too, not that I'd let them cash them in though.

While I don't think it is typical to have lots of cash as a teen it isn't that out of the ordinary. I guess it is no different than saving for a car. I would not let my child pay for a family vacation, but it is certainly sweet she would like to do so and if it were my child I'd be impressed with the planning /savings and then tell her the vacation was on us!

 

[Shelly F - Ohio]

WOW for a mere $12,000 you can buy a DVC resale contract and vacation for roughly the next 25-30 years at Disney.

YES ditch the dinning plan its a terrible waste of money.

 

[CalDisneyMomof2]

My 10 yr old hasn't worked a day in her life besides chores and has over 5,000 in the bank. She doesn't spend any of her birthday or Christmas money though and my parents and in laws give all of kid's money for report cards etc. I will add that twice she has asked for money for birthday, Christmas and did extra chores at the grandparent's house to pay for an expensive soccer camp that dh and I told her she had to pay for, but actually never took a penny from her. We thought it was important she not think it was just handed to her. So she has an extra 1,000 she doesn't realize she has from that. She is a money hoarder though and never wants something once I tell her she has to use her own money. All of my kids also have savings bonds in addition to their savings accounts that were bought for them too, not that I'd let them cash them in though.

While I don't think it is typical to have lots of cash as a teen it isn't that out of the ordinary. I guess it is no different than saving for a car. I would not let my child pay for a family vacation, but it is certainly sweet she would like to do so and if it were my child I'd be impressed with the planning /savings and then tell her the vacation was on us!

Wow! That's amazing- you have a very generous family. I was lucky to accumulate $100 every birthday. And I didn't (hardly ever) receive cash for Christmas.

My kids are 4 1/2 and 6 1/2. They don't get money for birthdays or Christmas (my FIL contributes about $500 to a college account every year but nothing to any type of regular savings) just the occasional gift card to Target or Disney. I imagine they will start getting more monetary gifts as they get older but I can't imagine it to be much more than what I received as a child.

I wish I had received money for my report cards! I had always received good grades and they were expected. I was never rewarded, only reprimanded if my grades weren't good enough. I guess it will depend on the type of students my children are to determine if they're rewarded.

I guess it's just not customary in my family to give monetary gifts

 

[DawnM]

We are a family of 5 and spend about $2000 for a week. We do stay off site though. I can't spend $200+ per night when most of what we do there is just sleep.

I am saving for college! (for my kids) I just couldn't spend 9K on a Disney vacation in good conscience.

 

[Marionnette]

My 10 yr old hasn't worked a day in her life besides chores and has over 5,000 in the bank.

I think that's wonderful that your daughter has such a great start on saving. However, the OP has stated that she has (and I'm paraphrasing here) worked her *butt* off to earn the money. The post has been pruned from this thread. I'm guessing it's because of the language that the OP used.

 

[Minnesota!]

FWIW, I paid, out of my own pocket, for a trip to Florida when I was 14. I had a pen pal there that I was dying to meet. My parents said if I would pay for it, I could go. So, everything from plane tickets to spending money, food, and my Disney, Busch Gardens, and whatever else we did - came out of my own savings account. A few thousand.

If my kid saved their own money and wanted to splurge with it, I would be cool with it.

ETA - the money in my account was money from my birthdays/Christmases/chores/grades, etc. that I had accumulated over the years. I am/was a money hoarder.

 

[AlohaNow]

Modeling and acting are the only legal professions I can think of that would pay big bucks to a kid/tween. I wouldn’t worry about it though, as I think we are all being taken for a ride here.

 

[scrapquitler]

Modeling and acting are the only legal professions I can think of that would pay big bucks to a kid/tween. I wouldn’t worry about it though, as I think we are all being taken for a ride here.

I've seen lots of kids with homework assignments that go something like "Plan and budget for a family trip to (dream destination)" I'm guessing that's the case here. Mostly because as a parent, I can't imagine letting my teenager spend such a HUGE amount of his/her hard earned money on a trip for the whole family like that. I might let them treat for dinner or a day at a local event if they really wanted, but a week long vacation for six? No way.

 

[Maliki2]

I am going to get rid of the dining plan. We are getting park hoppers only because we will have reservations for dinner at restaurants in other parks than the one we are going to that day. And because I love fireworks and parades!!!!!!!!

Don't want to sound like a jerk, but that is just bad planning. Getting hoppers mostly for restaurants and parades is a horrible waste of money. Cut that back to single day park tickets and see how much of a savings that is. I have used dining alot in the past 10 years, and I would never justify the cost of hoppers for a restaurant and parades. But that's just me.

 

[DawnM]

You have said it better than I would have. I was thinking the OP was just wishful thinking, but a homework assignment would make sense.

I've seen lots of kids with homework assignments that go something like "Plan and budget for a family trip to (dream destination)" I'm guessing that's the case here. Mostly because as a parent, I can't imagine letting my teenager spend such a HUGE amount of his/her hard earned money on a trip for the whole family like that. I might let them treat for dinner or a day at a local event if they really wanted, but a week long vacation for six? No way.

 

[disneycheerleader]

So adjustments have been made. I am only taking five people and we are doing four park days instead of five. I am going to take a break from the boards because I feel like I brought this upon myself. I am very sorry and did not mean to offend or annoy anyone.

 

[Judique]

Why did everyone have to analyse the OP's situation so much?

Perhaps this is a dream trip that will never happen until the OP is grown and successful enough to spend for a trip...

I've dreamed of things and made budgets for ideas that have never materialized. Over time you would not recognize the final life experience that started out as a pipe dream, but eventually years and years later came together in a realistic way.

I thought it was fun to participate and make suggestions, all the time realizing that this was possibly a teen with great dreams some of which may come to pass. It's not as if she were able to put a credit card down while having some interaction on the Dis.

OP - perhaps you have means now; perhaps you don't, but keep on planning and dreaming and some will come true!

 

[Ngwira]

WOW for a mere $12,000 you can buy a DVC resale contract and vacation for roughly the next 25-30 years at Disney.

YES ditch the dinning plan its a terrible waste of money.

Where can you find one?

 

[Marionnette]

Where can you find one?

On the resale market. I've purchased a couple of contracts for less than $12K. Quite a bit less.

 

[Sandi]

Oh my goodness people. I'm sorry some of you scared away the OP. I'm impressed with her budgeting skills and her ability to ask questions and take feedback. She reminds me of my DD (21 next month).

 

[disneycheerleader]

Thank you all for answering this question. I am only taking five people now and our budget is around $6,000. My new question is, if you pay out of pocket for dining, how much can you expect to spend for five people and six nights/seven days?

 

[chartle]

Thank you all for answering this question. I am only taking five people now and our budget is around $6,000. My new question is, if you pay out of pocket for dining, how much can you expect to spend for five people and six nights/seven days?

It varies so much it would be best to look at the menus, kind of figure out where and what people would eat and add it up. Same advise most people would give on whether or not the DDP is worth it.

If you only do CS its pretty easy since most meals cost about the same. Last time we went the cost was usually within a difference of $5 per meal.

 

[MinnieSweetheart]

Thank you all for answering this question. I am only taking five people now and our budget is around $6,000. My new question is, if you pay out of pocket for dining, how much can you expect to spend for five people and six nights/seven days?

$75/person/day which another poster uses the same amount. It's a good guide. $2750to have plenty of room. We do a lot of table service though which being young I wouldn't recommend.

Have you looked at how tickets are priced? The marginal cost of additional days after 5 is usually 10-15, more than woth it.

I'd also stay offsite in a condo. Cheaper and plenty of room.