Paying for your Trips???

[kmmum]

Hi Everyone..

I am just wondering how you all pay for your trips? Do you save Cash or do you put it on your Credit card?.. I have been trying to save the cash but it seems to be taking forever.. and I am thinking of putting on my Card.. Any suggestions to make this go faster would be great!!.. I know most of you have been going to Disney for along time.. and go several times a year.. Any info would be great.. Thanks.. Sarah

 

[Chickkypoo]

I like to pay cash for my trips, so I've done it two ways. I'll either book early and send a money order to Disney everytime I have a few hundred dollars saved up, or this year, I opened a US savings account, which couldn't be accessed via my bank card, which was a bonus, as then I wouldn't be tempted to take money out at the ATM all time. It was hooked up to my internet banking however so I could easily transfer money from my Canadian account into it every pay day. Then I just sent them a bank draft to cover the whole amount of my package when I booked.

 

[hockey mom]

I pay cash and do little chunks all year long. Whenever I get some extra dough I change it into American and then put it in little envelopes with the name of the place I am going to spend it at- like a restaurant. It helps when I get some at work- yesterday I got $36 so when I got home I put it away for our lunch at MK.

 

[briarberry]

I also opened a US account and I check the rate online. When I can and if the rate is good I transfer $ from my regular account. I also have $100 a pay put in yet another account which is my vacation money for the year. I do use my credit card to pay for the trip but I pay it off right away. I hate owing too much, I can't relax and enjoy my holiday if I haven't paid for it! We save our change (never spend a loonie ) and that money is used for souvenirs and this year there's enough to pay for our gas! I also give my daughter some of this money for spending money since she puts her change in the Disney Fund jar too. We had fun decorating the jar with Disney stickers. It sits on the kitchen counter so we don't forget about it. It was an idea I found on this board and it is amazing how fast the change adds up. We also put our leftover US cash in the jar as soon as we get home from Disney and start over!

 

[GrannyEv]

I also do it in chunks. I have a savings account entitled "DISNEY" lol.
When I purchase tickets, or pay for my room, I used my credit card and then transfer from savings to my credit card online. That way my trip is paid for up front, except for the food and souveniers, and I don't have a big credit card bill waiting for me when I get home.

hugs
GrannyEv

 

[laurietg]

Airmiles! We started really using our airmiles card. We buy our groceries at Dominion or A&P, and take advantage of bonus airmiles when they have them. We also use our American Express for EVERYTHING! We just pay it off every month. (Every $20 gets 1 airmile)

For our upcoming trip, since we just started collecting airmiles, we didn't have enough for flights, so we bought our 7 day tickets (x3) with airmiles. Then we paid for our flight and hotel with Amex, but paid that off when bill came. Then we lucked out with the free dining!!!! Our $4000 trip is only costing us under $2000!!!

Also, I don't know where in Canada you're from, but apparently it can be much cheaper to fly out of Buffalo. We didn't do it this time because I didn't read about it until after we booked our flight out of Pearson.

 

[RedRuby]

Hi Everyone..

I am just wondering how you all pay for your trips? Do you save Cash or do you put it on your Credit card?.. I have been trying to save the cash but it seems to be taking forever.. and I am thinking of putting on my Card.. Any suggestions to make this go faster would be great!!.. I know most of you have been going to Disney for along time.. and go several times a year.. Any info would be great.. Thanks.. Sarah

How do we pay? By credit card, paid off in full when it's billed. Putting anything on a credit card specifically to be paid off later with cash generally adds an extra unnecessary 18-25% interest rate to your purchases, so it's not something we do (generally - I can think of some post-student days when DH had a credit card balance from travel, but that is v. rare for us)

But that's the actual payment, it's paid for with savings. We have a fairly detailed budgetting and financial prediction 'system', which allows for a monthly budget based on usual income and expenses (including putting XX amount aside every month for specific things); a yearly budget of general income, expenses and savings; and a multi year spreadsheet showing the cash flow (in/out) and anticipated level of savings and investments for the next , oh, thirty years or some crazy length of time.
The further ahead in the future a certain date is, the less accurate the multiyear predictions will be, but it's nice to have them -- for instance, we hope to take a world cruise when the girls are finished high school (and presumably in their first year of university or college but time will tell), and that cruise is in the budget, roughly speaking, along with anticipated education costs.

Basically, as far as our Disney trip and other travelling goes, we budget a certain amount each year for travel -- it's different each year depending on our wants/needs (eg family weddings out of town), and we pay things off when they are billed. In practical terms, this means the airfare and package components are paid off before the trip, and the hotel/food/incidentals are paid off after the trip -- as they show up on the credit card.

We try to put expenses on our card which gives free groceries but we often revert to the gold card which has travel insurance benefits (extra ones for travel products paid for in full on that card). Both cards are no-fee.

Hope that helps

 

[Mortlives]

I pay for what I can in advance in dribs and drabs (tickets, hotels), then pay the rest when the credit card bill s come in. I try not to spend more than 2 months' disposable income extra on the trip, so by the time the bills arrive, I have the cash to pay. Disney's pretty good about letting you apply payments when convenient to hotels and packages.

I also don't spend loonies and toonies and convert them to $US when the rates are favourable. I save any $US coins I receive, and use them for tolls.

 

[Manon]

We save 50$ each (my DH & I) every week, and we have a sand bucket and we empty our pocket every night in it with our change. And with the 1 and 2$ it goes pretty fast!!!

In 6 month we had 4000$ saved!

 

[CharlesTD]

We pay cash for our trips we don't even use our CC's at Disney. We bring TC's and some cash and live with what we brought.

 

[mbb]

We save 50$ each (my DH & I) every week, and we have a sand bucket and we empty our pocket every night in it with our change. And with the 1 and 2$ it goes pretty fast!!!

In 6 month we had 4000$ saved!

We use a Popcorn bucket from the Magic Kingdom

Kids love that that's our "Mickey Money"
...they count it, roll it, and whatever is in the bucket is souvie $$..they each get to pick a "Zipadeedoodah, Treat for the Day" while we're there.

First day there, they usually pick their hat..then next day it's a Mickey bar treat kind of thing..another day, it's a t-shirt..some days a little toy.

Works well, and avoids the "I waaannn it" whines..LOL!!

As far as other costs go...savings, a little overtime, whatever

 

[SaraMc]

We use our Credit card because my DH works for Mastercard. We put chunks of the trip on payments every two weeks or so. We arent going for 6 more months but the trip is mostly paid for other than the flight. This way too the credit card is paid off too. But what I do is put in about $200 a paycheck into my saving acount once the trip is paid for, for spending money. While Im paying off the CC balance the monies go onto the cards bill.

 

[digskat]

We used our income tax return this year, we save our change whenever we get a $100 or so we buy American money...also any cheque we have gotten that was not a pay we've bought american with.

 

[maryliz]

You mean I have to PAY for all these trips ?

Just KIDDING ...

I have a US account, and whenever I get extra money that I wasn't expecting (tax refund, vacation pay, bonus etc), I put the money right into the account. Always have the money for all meals/gas/souvies, etc. I like to have the room paid for beforehand too, but if I don't, I just Ccard it when I get there and pay it when I get home.

We save our change too, and my kids are trained that if they find even an American penny, they hand it over to me for the US change jar.

Now everyone is different, and as much as I like to have it paid for in advance, I have also been known to go and put some on the card Life's too short, and as long as I feel I'm being reasonable in my spending, I don't let NOT having everything paid for in advance bother me. That's just my opinion, and like I said, everyone is different. You have to do what you feel is right for you, your family and your budget.

Garage sales are a great idea too ! I didn't make a lot last week, but the money went straight into my US account on Monday! And DH thought it was going to be a few rounds of golf for himself ... NOT

MaryLiz

 

[PhotobearSam]

Put every peice of coin change into a piggy bank and don't dip into it AT ALL!

We saved $900 in 6 months doing this and I would put $50 each pay into my Disney account. We stayed off-site and had an enveloppe for each day with that day's money in it...after it was gone, we were done for the day. Works really well.

DON'T put it on credit...You will live to regret it. Set a budget and work towards it...If you want it bad enough, you'll get there.


Also, eat in then put the money you would have spent eating out that night into the DISNEY money and tell the family "We can have pizza tonight or one meal at WDW, which one???" They will get it.

 

[maryliz]

Also, eat in then put the money you would have spent eating out that night into the DISNEY money and tell the family "We can have pizza tonight or one meal at WDW, which one???" They will get it.

We've done this ... it's a great way to save.


MaryLiz

 

[Mortlives]

I know most of you have been going to Disney for along time.. and go several times a year.. Any info would be great.. Thanks.. Sarah

Sorry, just noticed this. I don't think *most* of us go several times a year. What you'll probably find is that the older the dis'er, the more often they can afford to and the longer they've been going. But even that's not necessarily true.

What it boils down to is 2 things, available cash, and priorities. Not everyone makes the same amount of money, not everyone has the same financial obligations. So, while some people scrimp, and save, and eBay their way to the world for their first, last and only dream trip, others pull 2 weeks at the GF out of pocket change. The smily's got nothing to do with my opinion of either. I just wanted to use it.

So, how we do it varies by income, and general situation. But hang in there, you'll make it.

 

[digskat]

Garage sales are a great idea too ! I didn't make a lot last week,
MaryLiz this made me laugh!! It was what we had intended to do too and then the sky opened up and my husband and I looked like we'd rode six times in a row in the front seat of Splash Mountain....Weeks and weeks of no Rain and the Duncan's plan a garage sale and Bingo tons and tons of rain. Oh well we have our spending money pretty well saved, just would have been nice to have a bit extra, we may try again in a few weeks TTFN Kat

 

[Love2travellots]

Kmmum...saving is often difficult because we need to become aware of our spending habits before we can actually cut-back (and thereby save!)

I know I'm not the only one who, for example, has taken $100 out of the bank, and 24 hours later, I"m left scratching my head, asking "where did that money go?" If that's you too, and if you're really serious about saving a little more, then you need to figure out exactly where you ARE spending your cash!

My suggestion is to take a month and record each and every penny you spend. Every chocolate bar, cup of coffee, newspaper, etc. Everything!! I can guarantee that at the end of the month, you'll go "holy cow! I'm spending THAT much on XXX?!?!!!" For me, it was cups of coffee and lunches with the girls, and when I saw how much I was spending on a daily, weekly, monthly and annual basis, I quickly recognized an area where I could make huge savings. There are tons of ways to save a bit here and there, and they will all add up. It boils down then to priorities. For me, it was more important to save for travel than to drink 6 cups of coffee a day!

Another suggestion is to save up front, rather than trying to save with "what's left over". If you work, and if they'll allow automatic deductions from payroll into a savings account, do it. What you never see, you can't spend, and you'll adjust your spending habits accordingly.

And a final tip. If you do put it on your card, and you're carrying a balance and thereby paying interest, check your interest rate. If it's up at 19%, call the card issuer and negotiate a better deal. As long as you're in good standing with them, you should be able to get the rate reduced.

Ooop...i hope this doesn't come across as a "financial lecture" post...I'm just trying to share what's worked for me!

 

[Debbie]

Good advice, love2travellots. And I just wanted to be the first to welcome you to the Canadian board.

My favourite tip is the have it taken off directly from source. I have a set amount go to the credit union each pay. It hurts the first few months, trying to get used to the "new" figure, but you soon get it sorted out.

I use that same method for my music lessons for the kids. I have a small amount go weekly into ING. I don't even have to think about it. I just checked, since I get a 5% discount for both piano and vocal (X2) lessons if they are paid for the year. I have almost enough to do that. No small chunk of change, and it didn't hurt! Now, I still have to come up with money for: (X2) choir, music books, scores, tests, clothes, trips. . . maybe I need to up that figure a little.