"It's the economy, stupid"

[photobob]

I will continue to go, but as economically as I can. We are DVC members so we go every year, but we won't be spending nearly as much on upcoming trips.

 

[melancholywings]

I worry about this every day, we haven't paid off the trip but can do it unless everything takes a bigger turn for the worse. On the plus note I've started my christmas shopping really early and already have about 1/2 of it done. Yay for sales and smart spending.

 

[kydisneyfans]

I've seen my life savings drop 8% in 2 days, and 20% in the past year, but since I don't need that money now, it will just set and I'll be in that much better shape when the economy turns around.

For example-let's use stock A
Stock A was 50.00 a share on 12-31-07
Stock A is now 30.00.

If I put $300.00 into stock A, I bought 6 shares in December, now I can buy 10 for the same money. When stock A goes back to 50 a share in a few years, I now have 500.00 instead of 300.00. As long as stock A is not financial, it is likely safe.

As for jobs, God has a plan for everyone. Whatever he leads me to is what I will do to earn money. Since both of us work, we both have IRA's, 401Ks and savings-if something tanks, we'll survive.

As for Disney trips, we haven't spent $5K on the last 4 trips combined. It is possible to have fun and spend less than half of that amount. This is our last trip to Disney for awhile as my family believes the prices are getting out of whack and we can get more bang for our buck elsewhere. It's time for a change of scenery anyway.

 

[jhaig]

I don't know J, I think my 8 year old would remember not having food or if her parents started fighting constantly because of no money (economy, not infidelity is now the #1 cause of divorce).

Op, I'd probably cut my trip budget a bit. $5K is a lot of money.

I hope you're not saying I'd go to Disney and let my kids go hungry and neglect my marriage.

It's about being responsible. If you've saved (as we have for a LONG time) and you don't go overboard money-wise, then go and have fun guilt-free. But don't think for a minute that Mickey Mouse comes before family. They're the reason we're going in the first place.

 

[rie'smom]

If I was worried about my husband's job or paying bills, I couldn't sleep at night. There's no way that I could justify going to WDW.

 

[eeyorethegreat]

It depends on what one does for a living. The medical field won't see much of a downturn. I doubt education-related employment will either. I would think most of the damage will be where most of the bubble occurred: real estate and financial markets. With other industries being affected around the edges.

Bob

The schools in Central Florida have reduced the number of teachers this year dramatically. I don't think education related fields are at all safe.QUOTE]


One would think that educators are immune from the downturn but fact is they are not. School budgets are being cut each year, Teachers are being forced into early retirement and teachers -even those who have taught in the school system for some time are getting shuffled around or let go altogether depending how the seniority ranks and what department one is in. Some are being reduced to part time. Class sizes are becoming larger because there are fewer teacher on the districts' books. It is a very scary time for educators right now. Luckily, DH only got shuffled to a different school (he was teaching middle school and was moved to the elementary level- he much prefers the middle school). I teach Pre-k for a non profit and we don't know from year to year if we will exist.

 

[Loverly]

Yes!! and now I'll probably be taking out a loan to pay for our dining (I'm not one of the blessed people who got a pin code) :

You really are taking out a loam to eat?
My DH makes 6 figures and I've never stayed at the Poly! Goodness gracious-downgrade where you are staying & that will pay for the food.

 

[DOOM1001]

This has got to be the most irresponsible thing I have ever heard. You can't afford to put a roof over the head of your family, but you are going to Disney? Do you think down the road your kids will care about the trip when they are uprooted from their home because they've LOST it?

Enjoy your trip. I hope it's worth it.

I would disagree with you,if you're broke it's better to be at Disney having fun and putting those issues aside for a couple of days rather than at home staring at each other and worrying about your situation.I've gone broke before and worried about it, but afterwards I was definitely glad I went.Just go on a budget and enjoy yourself.I think what they meant is that they know their situation is not going to get any better and can't afford to keep their house whether they go to Disney or not,so in that situation I would suggest they go to Disney.However if they situation is dire where they lost their job and might not have money to eat after coming back,then they shouldn't go,but they never said that they just said they're maxed out and probably can't afford their house and are going to need to sell.Life is short and Disney is totally worth it!!

 

[eliza61]

I hope you're not saying I'd go to Disney and let my kids go hungry and neglect my marriage.

It's about being responsible. If you've saved (as we have for a LONG time) and you don't go overboard money-wise, then go and have fun guilt-free. But don't think for a minute that Mickey Mouse comes before family. They're the reason we're going in the first place.

Not at all, what I was responding to was the "don't worry, be happy" tone of your first post. To me part of responsibility is being concerned about the economy because it affects so much of our quality of life. Op is thinking about spending 5K on a luxury and no matter how much I love disney and want to make positive memories with my children, disney is a luxury. the responsible thing imo is some times saying "NO" to luxuries. Whether they be a disney vacation, a new car, or a trip to Europe.

I guess I'm just more pro-active, I'm not one of those "I can't do any thing about it" so stick my head in the sand type of gals. When the economy goes south, I take a look at my finances and start planning on that raining day especially since this down turn is looking like it's going to get worse before better.

 

[stacyp9]

I would disagree with you,if you're broke it's better to be at Disney having fun and putting those issues aside for a couple of days rather than at home staring at each other and worrying about your situation.I've gone broke before and worried about it, but afterwards I was definitely glad I went.Just go on a budget and enjoy yourself.I think what they meant is that they know their situation is not going to get any better and can't afford to keep their house whether they go to Disney or not,so in that situation I would suggest they go to Disney.However if they situation is dire where they lost their job and might not have money to eat after coming back,then they shouldn't go,but they never said that they just said they're maxed out and probably can't afford their house and are going to need to sell.Life is short and Disney is totally worth it!!

NO! The economy is crashing and burning ladies and gentlemen. The absolute WORST thing you could do at this time is to put yourself in debt, or to put yourself further in debt. Credit is going to become much harder to get in the near future. Credit card companies are talking about DECREASING your maximum credit allowed, and not by small amounts either. Loans are already tough. The safety net of being able to max out multiple cards is rapidly evaporating and if people are not careful they may find themselves in big trouble.

 

[eliza61]

I would disagree with you,if you're broke it's better to be at Disney having fun and putting those issues aside for a couple of days rather than at home staring at each other and worrying about your situation.I've gone broke before and worried about it, but afterwards I was definitely glad I went.Just go on a budget and enjoy yourself.I think what they meant is that they know their situation is not going to get any better and can't afford to keep their house whether they go to Disney or not,so in that situation I would suggest they go to Disney.However if they situation is dire where they lost their job and might not have money to eat after coming back,then they shouldn't go,but they never said that they just said they're maxed out and probably can't afford their house and are going to need to sell.Life is short and Disney is totally worth it!!

So let's see by that logic since I'm in debt and about to be homeless I should go out and really run up a charge at bloomingdales 'cause hey, doesn't matter I'm going to be homeless anyway. So might as well look good. Sorry this is the height of ridiculous

 

[IloveDMB]

I would disagree with you,if you're broke it's better to be at Disney having fun and putting those issues aside for a couple of days rather than at home staring at each other and worrying about your situation.I've gone broke before and worried about it, but afterwards I was definitely glad I went.Just go on a budget and enjoy yourself.I think what they meant is that they know their situation is not going to get any better and can't afford to keep their house whether they go to Disney or not,so in that situation I would suggest they go to Disney.However if they situation is dire where they lost their job and might not have money to eat after coming back,then they shouldn't go,but they never said that they just said they're maxed out and probably can't afford their house and are going to need to sell.Life is short and Disney is totally worth it!!

Oh yeah, that makes total sense. Instead of taking the money and putting it away for, let's say, mundane things like food, it's better to spend it at WDW? Or even better, let's take a loan out to pay for the food! Wow, I don't get that logic at all.

Here's the thing, WDW is not going anywhere! If you can't afford to go this year, don't worry, it will be there when you can afford it. I love when I read about people "needing" a trip. There's a big difference between want and need, and I'm glad I was taught the difference. Save up, and plan a trip for the future when your financial situation is more stable.

 

[kadesha]

A Disney trip doesn't have to cost $5000. That's absurd if you are at the point of having to take out a loan to eat. Our trip is for 5 nights/6 days and is barely over $1000. If the free dining code is released to the general public, our trip won't even be $1000. You don't have to stay in a deluxe resort, afterall, how much time are you just hanging out in the room? Just think how great it would be to stay in a Value and have that extra almost $4000!

 

[DOOM1001]

I stand by my logic!!As stated by others going to Disney doesn't have to cost a fortune. I can go into Hotwire and get me 5 days of hotel stays for under $200 in decent off-site hotels with free breakfast ,go into Wal-Mart after your day at the parks and grab dinner,make a day a resort hopping/Downtown Disney day and so on.Maybe it's because that I go very often being a Floridian,but that's why I can go very often because I go on the cheap,and of course have AP's.I'm just saying I understand what they mean since they already paid for most of the trip with their tax refund and they know their situation and for many people a Disney trip isn't that frequent and if they don't go now they might not for years,so why not go and enjoy themselves.

 

[stacyp9]

Because being a grown up means that you don't go further into debt in a crashing economy because "you deserve it".

Because being a grown up means that if you can't afford the luxury, you. don't. buy. it.

Because being a grown up means teaching your kids that a life with less stuff but peace of mind is a happier life.

 

[Orlando313]

Because being a grown up means that you don't go further into debt in a crashing economy because "you deserve it".

Because being a grown up means that if you can't afford the luxury, you. don't. buy. it.

Because being a grown up means teaching your kids that a life with less stuff but peace of mind is a happier life.

I haven't been an official grown up for very long now, but I already don't like it. Ha!

But you are exactly right! I like the last one. That's how we grew up. We were very poor growing up but boy were we happy.

 

[huskies90]

Seriously though, people living beyond their means (and financial institutions allowing it) is what has gotten us here in the first place. Be smart people...take your vacation; we all need one. But scale it down. Your family will remember the great times together not how much $$ you spent...Our '08 vacation was days off and a series of day trips. It wasn't Disney but we had a great vacation and at a fraction of the cost...If we decide we can't swing the '09 trip we'll do something else and have a great time together...

 

[DOOM1001]

I know "grown ups" basically my grandparents who were always afraid of going into debt or spending money,and guess what they grew old and lived to regret not doing anything with their money when they could.I know there's limits of how far you can go,but this is fact,money comes and goes and memories last forever!!!

 

[Disney1976]

Maybe, but you have to remember that most of those folks working in Florida are working minimum wage jobs. Many were working multiple jobs just to survive. Now, they are losing some of those jobs. Life in this area is not all pixie dust for many.

Isn't that the truth? I was in court earlier this week, and started talking to another attorney while we were waiting for the judge to show up (who was 30 minutes late, but that's another rant). This other lawyer had 8 files in his hands for the judge to sign -all foreclosures, and I remarked to him how sad that was. He pointed to the large crate next to him, full of files and replied "Oh, this is nothing - I have all these to be signed by various judges this morning, and then I have to go over to the bankruptcy court to see more clients." And that was just one day's work, and one attorney! I think it's a very dire situation here in Central Florida.

 

[stacyp9]

I haven't been an official grown up for very long now, but I already don't like it. Ha!

But you are exactly right! I like the last one. That's how we grew up. We were very poor growing up but boy were we happy.

Yeah, being a grown up stinks sometimes but it doesn't stink as much as laying awake at night with worry. My kiddos want time with my husband and I more than anything and time is cheap and has the biggest pay back in the long run.