Savings Ideas for Bad Budgeters

[theworldneedscolor]

Next April/May we are planning to go to Florida for the first (and probably last) time to celebrate my graduation. I've calculated it a few times, and for the four of us, it will be five to six thousand dollars for my family of four (two adults, two teens). This is a lot of money for my family; my parents aren't great savers and have a good amount of debt. I still don't understand this, since my dad is an accountant...

Obviously, I can't budget their money or tell them what they can and can't buy. But since this trip is for me, I want to help them out. I already know that I will offer to pay for extra things, like Photopass and the Express Passes at Universal.

I was wondering if you guys had any savings ideas I could give them? One idea I had was a change jar. Things like that. Any help would be appreciated!

 

[ruadisneyfan2]

Next April/May we are planning to go to Florida for the first (and probably last) time to celebrate my graduation. I've calculated it a few times, and for the four of us, it will be five to six thousand dollars for my family of four (two adults, two teens). This is a lot of money for my family; my parents aren't great savers and have a good amount of debt. I still don't understand this, since my dad is an accountant...

Obviously, I can't budget their money or tell them what they can and can't buy. But since this trip is for me, I want to help them out. I already know that I will offer to pay for extra things, like Photopass and the Express Passes at Universal.

I was wondering if you guys had any savings ideas I could give them? One idea I had was a change jar. Things like that. Any help would be appreciated!

You need more than a change jar for a trip that's 1 year away. There are ways to cut down the cost for any trip. Some things are mandatory, like eating & drinking. Some things, like the hopper option on tickets, are really not necessary. You don't say whether you're flying vs driving, where you're staying, including the dining plan, etc. With more details, I could help you find ways to keep costs down without ruining the trip. We have gone to Disney many times (a family of 4) and never spent $6000. We always fly.

I use a vacation account with ING.com (now Capital One). It's an online savings account that is connected to my checking account at our local bank. I can set up for $ to automatically transfer to savings each time we get paid. One it's "gone" I hardly miss it. Depending on your parents' financial situation, they might disagree.

I just re-read your post and noticed your wanting to buy Express passes at Universal. Did you know if you stay onsite at a Universal hotel it's included with your stay? Just flash your room key for any express line. Unlike the passes that are for sale, there are no limits on the # of times you can use it per ride. (Actually now instead of showing your key, you use a photo kiosk in the hotel lobby to print a little card that also prints your photo on it and that's what you show. This was new to us last month.) Universal hotels are not cheap but they do offer a AAA discount if your parents are members. Also if you even stay just 1 night, you get express line perks for the whole day you check in (if you arrive early they'll store your luggage) and the day you check out until park closing. So 1 nt hotel stay gets you 2 full days of express line perks. Also it's an easy walk to the parks or you can catch their convenient water taxi. My dh will not visit Universal without a room key!
Check out their website. Hard Rock Hotel is our favorite and also the shortest walk of the 3 hotels. I usually buy an annual pass just for the hotel discount which is usually around $100/nt off the regular price. With a 2-3 nt stay, the AP pays for itself.

 

[theworldneedscolor]

Sorry, I didn't mean to pay for the whole trip, just to ease the cost. Those are still good ideas though, and I will definitely mention them. Thanks for the input!

We are flying from Oregon, so that will be approx $1500 for the four of us. Not sure where we are staying yet. Maybe a value if there is a good deal, maybe a Mariott if we have enough points for a night or two.

 

[ruadisneyfan2]

Sorry, I didn't mean to pay for the whole trip, just to ease the cost. Those are still good ideas though, and I will definitely mention them. Thanks for the input!

We are flying from Oregon, so that will be approx $1500 for the four of us. Not sure where we are staying yet. Maybe a value if there is a good deal, maybe a Mariott if we have enough points for a night or two.

We have stayed both offsite & onsite for various reasons. There are pros & cons of both and some people feel very strongly about going one way or the other. I do admit though, it used to be easy to get a car rental for around $100/week incl all taxes way back when my kids were younger. Also gas was way cheaper then. Now it's not so easy. Be sure to include these costs for an offsite stay: car rental, parking fee at the parks (I think this might be $15/day) and a tank of gas. Keep in mind that many offsite resorts offer free shuttles to the parks (our timeshare in Kissimmee did) but they are often not very convenient. Some only pick up and drop off a few times per day and many stop at other sister resorts to get more guests. So while it could save money, it wastes precious vacation time waiting for shuttles. Majority of offsiters would say a rental car is a must.

At least Disney's onsite bus transportation is pretty decent and comes to your hotel fairly often. I don't think we've ever waited more than 15 mins. at any time of day.

Just something to consider when comparing costs.

 

[ruadisneyfan2]

You should check out www.mousesavers.com
If you sign up for their monthly email newsletters, it will give you notice of specials at WDW, transportation discounts such as rental car or van service, say if you want a driver to take you from Disney to Universal, and lots of other great tips.

They also provide a link to UndercoverTourist.com with and additonal discount on tickets for mousesaver readers. The discount only shows when you enter the site through the email link. This is the cheapest place I have found to get tickets. Unless you get a special from Disney that requires the purchase of a package (hotel + tickets) it's always cheaper to buy tickets here.
Free dining is the one special I can think of at the moment where you'd need to buy a package. For this reason, I wouldn't buy tickets from an outside source until approx 3 weeks prior to leaving. If Disney should offer a free dining special for your dates that are already booked, you can always call and change your reservation.

 

[mousehockey37]

Next April/May we are planning to go to Florida for the first (and probably last) time to celebrate my graduation. I've calculated it a few times, and for the four of us, it will be five to six thousand dollars for my family of four (two adults, two teens). This is a lot of money for my family; my parents aren't great savers and have a good amount of debt. I still don't understand this, since my dad is an accountant...

Obviously, I can't budget their money or tell them what they can and can't buy. But since this trip is for me, I want to help them out. I already know that I will offer to pay for extra things, like Photopass and the Express Passes at Universal.

I was wondering if you guys had any savings ideas I could give them? One idea I had was a change jar. Things like that. Any help would be appreciated!

The advice I'm offering is for when you're in the Walt Disney World parks/resorts.

For helping while you're at home, get that Sunday newspaper and get those coupons!!!!

If your parents are open to it, tailor your eating, drinking, cleaning habits to what you can buy that's on sale and use coupons. With a little planning you can save almost enough money to pay for your trip itself. This is also a good way to help get yourself out of debt too. Keep your costs for everyday life minimal and once you're outta the hole, then start to ease back into the more "lavish" life.

Another idea is carpooling. If your parents have friends that live close by that they work with, see if they can carpool. Running a car 2 or 3 times less a week can save tons on gas, depending on the type of car(s) you have.

Hmmm, something else, if there's any "extra" money after bills and such, take what you guys can and put it into Disney gift cards. You can use them in the parks for just about anything. This is also a way that you can go without going further into debt because the money is already preloaded onto the card and you can only use what's on it, then it's cash after that, or another gift card.

As for you being one of the kids... I know being young and having friends is cool, do you drive your friends around on the weekends? Do you have a job on the side from school? If you're out all the time, try not to hit your parents up for some "gas money", if you're already doing this, kudos. If you have your own employment right now, take some of your cash and put it into some of the Disney gift cards, again, these will go a long way. Do the math, if you yourself could possibly do $25 every 2 weeks onto a Disney gift card, that's $650. That can go towards your resort, photopass, souvies, food, whatever. That's just $25 every 2 weeks, if you, your parents and other sibling can all do that, multiply that number by 4 and you're up to almost $3,000. If your parents could do a little more than $25, that could help too.

If you and your sibling over the summer can increase by $5-$10 or whatever you can afford to do, you'll see these numbers increase.

I understand that you have to do credit holds and stuff on your reservations and there's just no getting around it sometimes, but if all you have to do is have a small payment for holding and can use the cards to pay the balance, it's a way to reward yourself for a year of saving and you and your parents won't get hit too hard in the wallet when you actually go.

I hope this helps!

 

[Disneylifeforme]

I save $1 per week of year! So week one I put in $1 week 10$10 by the end of year you have almost$1500 saved.

 

[Aliceacc]

I thnk it's wonderful that you're thinking in advance of how you can help ease the financial burden.

One thing you can do is check the Disney "seasons" and plan your trip for a time of year when prices are low. We go in late July/ early August, during "value 2" season.

Two, think about working with a travel agent-- I can recommend one if you want. He or she will be on the lookout for deals for you, at absolutely no cost to you.

Consider one of the Value resorts. You get the full Disney experience, from Magical Express to Extra Magic Hours, at a very reasonable price!

We're planning to go in August 2014, and we're saving $200 a paycheck for it. As of last count, I think we had $1600 saved-- a good start. Perhaps you could suggest a similar sort of Vacation Club for your family, saving a set amount that's reasonable for your budget.

We book our summer airfare between Christmas and New Years. I'm always happy with the fares I get. Start now to track airfares, so you'll recognize a deal when you see it.

The best of luck as you plan your graduation trip!

 

[Shea&Van]

First off, congrats on your graduation next year. That is a wonderful accomplishment!

Second, it is so sweet of you to offer to help fund the trip.

You've mentioned the change jar and that's something we all do to help build our fun money. Last year, we had over $800 rolled! Another thing I do is each time I go to the grocery, I purchase a $25 Disney gift card. This adds up over the course of a year!

As a youngster, I worked a part-time job. All those funds went to pay for my college. But, I did odd jobs to make extra money (babysitting, cutting the grass, running to the market for an older relative, etc.). Perhaps you could pick up one of these errands for some extra cash.

I'm sure you will be able to save quite a bit once you put your mind to it.

Best of luck to you!!!

 

[natfrac]

For non-savers, I'd suggest buying a Disney gift card every payday as PP mentioned. The money's spent and can't be used anywhere else.
As others have mentioned, check for Disney deals--free dining, etc. Another option is renting DVC points. Old Key West is a nice resort and has two beds. We like staying at a deluxe resort for value prices. Plus with a kitchenette you can keep drinks/snacks/breakfast items in the room.
Do your parents have credit cards with airline miles that might offset the airfare? We also fly from Oregon and use Southwest or Delta points.

 

[pocomom]

Next April/May we are planning to go to Florida for the first (and probably last) time to celebrate my graduation. I've calculated it a few times, and for the four of us, it will be five to six thousand dollars for my family of four (two adults, two teens). This is a lot of money for my family; my parents aren't great savers and have a good amount of debt. I still don't understand this, since my dad is an accountant...

QUOTE]
Having the knowledge and using it are too different things It's great you want to help out and that you see the issues they have so perhaps you can change those patterns for yourself.
I know saving is easier when it is a trick (like getting the prepaid giftcards at the store, or autodepositing a certain amount into a vacation fund) or when it is fun. I find change jars fun. The savings game where you deposit increasing amounts each week is fun for some. I know this sounds nerdy but I like charts where I get to color in the amount saved until I reach my goal. I like to also reward myself, if I save x I can do these experiences on vacation but if i save x+y I can have these other things too... so if i go over my goal I'll add in a fancy dinner or room upgrade soemthing like that. There are also some programs online where you get rewarded for reaching a savings goal.

 

[ktate82]

Its great that you want to help out. One thing I do that helps a lot is I have money taken right out of my paycheck and put into a savings account. It makes it easier because then I don't have to "budget" to put money into savings because its already there! Clip coupons, cut back on eating out, take your lunch to school, and the change jar are all little things that will make a difference in the end. Good Job!

 

[Happyjen27]

It's great that you want to help. It is also great that your family has a year to save up for this trip.

If you need roughly $5000 for the trip, then your family will need to save about $100 a week.

If I were in your shoes, I would schedule a meeting with my parents and sibling. I would present the numbers that you've researched as far as flight costs and present some different lodging options to them.

During this meeting, you can then set your family goals, and talk about ways to get there. Talk about things like the frequency of going out to eat and see what might be eliminated to find that $100 per week.

I would then request that these monies be set aside in a separate account from the family cash, and that the bank statement each quarter have full visiblity to all invested in this trip, so, everyone gets to see the bank statement and watch the account grow.

This might sound intimidating, but I think it shows great maturity, and running a meeting like this is great preparation for the years ahead.

 

[eeyoresmom]

Next April/May we are planning to go to Florida for the first (and probably last) time to celebrate my graduation. I've calculated it a few times, and for the four of us, it will be five to six thousand dollars for my family of four (two adults, two teens). This is a lot of money for my family; my parents aren't great savers and have a good amount of debt. I still don't understand this, since my dad is an accountant...

Obviously, I can't budget their money or tell them what they can and can't buy. But since this trip is for me, I want to help them out. I already know that I will offer to pay for extra things, like Photopass and the Express Passes at Universal.

I was wondering if you guys had any savings ideas I could give them? One idea I had was a change jar. Things like that. Any help would be appreciated!

Easter is very late next year. I think April 20th. That following week will be very crowded and very expensive. I would definitely plan to avoid that week.

 

[BadgerGirl84]

Just wanted to say GREAT JOB trying to help your mom and dad pay for the trip. I grew up in a family without a lot of money and a family with debt, so I feel your pain.

Like some others said, 5000-6000 sounds like a pretty big budget for a family of four. Coming from Portland, yeah, 1500 sounds about right for airfare. I'd highly recommend renting a car (very cheap for a sedan for 4 people...probably $150 or less) and staying at a vacation home. Something like Windsor Hills. I have emails in my inbox from Vacation Central Florida for 2-3 bedroom condos in Windsor Hills renting for $299 a week (plus taxes, fees and cleaning) for the next four weeks. When you stay in a vacation home, you can make breakfast and some other meals in the condo and save $$$ on food.

Getting the family to contribute to a change jar...then exchanging those for Disney gift cards seems like a good savings idea.

 

[theworldneedscolor]

You guys all have great ideas, thank you so much for sharing! I am planning on talking with my family tonight to make a serious plan for the trip and budgeting/saving for it.

I love the 52 week saving idea! I think that would be good for my mom who needs a little extra motivation to save. Also, I think the idea of only having to cut an extra dollar out of the budget each week will be good for her, instead of going cold turkey.

I'm surprised that some of you thought I had priced it a little high. Am I doing something wrong? If we could get it closer to four hundred, that would be great!

Flights $1600
Rental Car $300
Hotel $800 (not sure whether we will go onsite at Disney and then move offsite, or stay offsite the whole time)
WDW Tickets $1080
WDW Food $550 (This is pretty accurate, I looked at the menus and made a hypothetical plan for each day. The biggest budget eater here is breakfast at Tusker House, other than that, every meal is $35-70).
Universal Tickets $520
Universal Dining Plan $176
Parking $90
Misc. Food $100 (any drinks or snacks at Universal or the airport, and a few things for breakfast in our hotel room.)
Total: $5216

Other info- We are doing four days at WDW and two days at Universal, with no park hopping either. We are flying from Portland on a Saturday, and flying back on the next Saturday. Two adults and two teenagers. We are looking at the week of April 26-May 3 or May 10-May 17.

 

[platamama]

Have each of your parents apply for the Chase Sapphire Preferred credit card which is currently offering a 40,000 pt sign up (spend $3000 within 90 days to get this bonus) incentive.

Once they each have their 43,000 pts (40,000 bonus + 3,000 for $ spent) they can transfer them point for point into Southwest's Rapid Rewards program. 2 x 43,000 = 86,000 RR points.

You can buy SW tickets using RR points at a 60 pts = $1 formula. So 86,000 RR points means $1433.33 to spend on tickets to FL.

Also, bags fly free on SW instead of the $25+ per check-in bag charge (each way!) imposed by most airlines.

Um, however, if they have credit card balances and don't pay in full each month then overall in the financial scheme of things this probably is not a good plan.

 

[bumbershoot]

Most planners don't consider the Universal meal plan to be much good. The number of restaurants you use it at is minimal, and the main use is when you've got big eaters who want to go back and get more all day.

It doesn't cover the Three Broomsticks, and I bet you'll want to visit that restaurant.


Buying two low-number-of-day sets of tickets (one for WDW, one for Universal) is what is killing your budget. We do go to both, but we buy tickets through the year so it's not all in one lump sum. Seems easier for us that way. Of course, right now we have APs for both parks, with staggered renewals (and Universal AP renewals are, still, nice and relatively low compared to buying them new).


Since you do have awhile to plan for this, I would recommend looking at the Loews Hotels booking site to see what sort of discounts you might be able to get. Check out the Universal forum here; there's a "date and rate" thread that people add to, so you can see what sort of discounts people are getting this year april and may, and you can even find the thread from previous years to see the trend. Maybe it would be worth it to move hotels, stay onsite, and not have to plunk out for 4 Express Passes per day. When you stay at one of the current 3 Universal hotels (next year they are opening a 4th, but it will NOT have the same benefits as the current 3) you get *unlimited* Express Passes for the people in the room, along with Early Entrance to Wizarding World of Harry Potter. Those benefits start the moment you check in and go to midnight of the day you check out.


Flights can vary! Right now we're looking at a flight from SEA to MCO that's $157 per person one way. Now, that's October, but still, that's pretty decent. So follow the airline pricing trends as well; some recommend using Bing to track fares.


And at the end of all this, remember that since you are graduating, you're pretty close to being an adult. Once you're an adult you can start working (after college, perhaps) and making great financial decisions, and soon enough maybe YOU can be the one that takes your family to Disney again. Just because your parents have made their decisions which are making this trip hard doesn't mean you won't be able to do it for them in the future. So don't look on it as the ONLY trip you will ever take with them, since you're just about to go into the world of being an adult and have the whole world ahead of you.