Here are my suggestions to shave those costs.
Room: You've set your sights on a deluxe hotel and you're paying the rack rate with a package deal. Make sure that you're not paying more for a waterview or preferred location.
You could also skip the package and do each part yourself. There's always the possibility of room-only codes for the general public in December. You may be lucky enough to snag one if you keep you're eyes open. I would book the room now and change it when (if) the codes come out. At the worst, you could always change that room-only ressie to a package later, if there are no discount codes.
Tickets: An AP would cost one member of your party $420.68 This is $124.61 more than a 7-day MYW hopper w/ no expiry. If AP discounts are avaiable for your dates (and no one will know until November or so), you might be better off purchasing one AP so that you can get a room-only discount. DO NOT PURCHASE AN AP FOR THIS REASON UNLESS YOU
KNOW THAT THERE ARE ROOM-ONLY CODES FOR THIS DATE AND YOU HAVE ALREADY SECURED A RESERVATION USING THE CODE!
I'm assuming that the $268/ticket that you're quoting is the price from Disney's website for advance ticket purchase of an adult 7-day MYW Premium Hopper w/expiry. That price does not include tax or shipping. The cost is closer to $285 per adult pass plus shipping.
You could get them from a ticketbroker for much less.
Ticketmania.com sells the same passes for $279 each. And the price includes taxes plus free shipping.
Personally, I don't think that you need "premium" portion of the tickets unless you plan to visit DQ, the waterparks, PI or WWoS 5 times during the length of your visit. Pay for those individually. If one member of your party has an AP, they can get a discount on tickets for those areas for themselves and up to 3 people.
Food: Another advantage of being an AP holder is that they can now purchase membership in the Disney Dining Experience. DDE was once available to only Florida residents but Disney has dangled this carrot to their AP holder who wouldn't be purchasing vacation packages. The annual membership price is $75 but AP holders are being offered membership for $50. The DDE card would get you a 20% discount at a number of restaurants and some counterservice places. It's good anytime of the day and the discount also includes "adult" drinks. Blackout dates for use include Christmas and Christmas Eve, as well as some other holidays. It's worth considering, if you purchase an AP.
If you don't go with the AP/DDE, then the best way to cut your meal costs would be to pay for all food à la carte. Eat your big meal at lunchtime, when the portions are smaller and so are the prices. Share desserts and appetizers among your party. Bring Brita Fill & Go bottles to filter the taste out of the Disney water rather than buying bottled water at $2.50. Bring your own snacks and breakfast foods. Make coffee in your room. Take advantage of the free refrigerator that all the deluxes and moderates now have.
Transportation: Drive instead of flying. Many DISers do this to cut costs. They also like the idea of having a car at their disposal while in WDW. Even when you take into consideration gas, tolls and wear & tear on the car, you won't even approach the $800 price tag that you've set for airfare.
If driving is out of the question, consider taking Amtrak. They offer generous senior citizen discounts as well as discounts for
AAA and students. You could check their website for fare and station locations. The cost could be almost half of the cost of airfare from your area.
Lastly, if you don't have some sort of rewards credit card that is paying you cashback or some other useful reward, I would consider getting one. Just about every major bank is now offering some sort of rewards card. You can simply have your current account switched to a rewards card. You can then apply all rewards to your trip. In 11 months, you can rack up a lot of points or cash for use on your trip!
Good luck planning!
