Seems we will never get back .....

[TeresaMc]

Between myself and hubby seems we can both stay working at the same time. I had a decent job and the business closed, then I got a mediocre job. He had a good job that was eliminated and I got promoted to a much better position, now he has a mediocre job. We are surviving ok but putting out several thousand dollars for vacation just doesn't seem possible. So I have decided it might take me awhile but I am buying $50 gift cards whenever I have some extra cash, when I get enough it's off to WDW. Might take me over a year but at least I know I'll get there. So far I have $500, and I'm not sure when I bought the first giftcard......maybe 3-4 months ago.

So I'm off on a slow savings journey.

 

[wishesuponastar]

I'm sorry you've both had some job struggles.

What I never understand is why do people buy those gift cards when money is tight? Wouldn't it be better to stash money in an envelope just in case you need to get to it? Don't mean to be rude, just puzzles me.

 

[Zhoen]

I think the card represents a promise to themselves, that it really IS goin to happen, sooner or later.

I've never done it myself. I think the mouse is getting by well enough without me giving him my money interest-free... but since the card is not liquid, like a bank account, it is harder for them to raid.

Now, I think a liquid fund is great... if a vacation fund can double as a short-term emergency fund, too, that's a bonus for me...

But if you're eating rice and beans for every meal to make ends meet and meet your savings goals, that $50 in the envelope starts to smell like a steak dinner after a while.

As long as you're meeting all your obligations, then whatever works...

 

[TeresaMc]

We are by no means eating rice and beans and I have enough to live on for a couple months in savings. We are basically comfortable, just not comfortable saying I'm taking $5000 out of savings for vacation.

It is kind of like a promise to myself and it seems more of a reality if I have a stack of giftcards sitting on my desk.

 

[Zhoen]

It was a general comment, not a poke at you directly, I hope it didn't seem that way.

 

[wishesuponastar]

I see so it's exciting to see the gift cards build up. I wouldn't like to save for a trip that way. I would be worried that I would need that money since we are a paycheck to paycheck family. When we vacation, we use our income tax refund.

 

[AntePrincess]

What about gift card expiration? I believe that it's illegal for the company to put fees on old gift cards (but then the state claims unused gift cards for escheatment purposes so you lose it anyway), but that's not the case in every state. If it's not at risk of expiration or money being taken from it over time, I think I'll start doing it myself. I like to prepay these things and work them into my savings.

Can these gift cards really be used on rooms and reservations?

 

[Leshaface]

We are by no means eating rice and beans and I have enough to live on for a couple months in savings. We are basically comfortable, just not comfortable saying I'm taking $5000 out of savings for vacation.

It is kind of like a promise to myself and it seems more of a reality if I have a stack of giftcards sitting on my desk.

This is how I took it. Almost like, we'll get there eventually just not right now. It's giving you something to look forward to in the future. Good idea OP

 

[maggs1035]

I'm sorry you've both had some job struggles.

What I never understand is why do people buy those gift cards when money is tight? Wouldn't it be better to stash money in an envelope just in case you need to get to it? Don't mean to be rude, just puzzles me.

I'm with you on this one, put it in a vacation savings account so if you have a serious emergency you will be ok??? Gift cards just don't seem wise to me?

 

[Ennazus8810]

We do the gift card thing. We have our savings, and then our Disney Money. We save cash until our local grocery store runs the double fuel perks, and then I trade them in on gift cards and get free gas. I like to see the stack of gift cards pile up, and we only use money that is left over after bills, ect are paid.


And yes, they can really be used for room and tickets. You call the reservation number and pay with your gift cards, or do it when you check in. I have used 10+ to pay for a reservation.

 

[disneychrista]

You are far above what I have in 3 - 4 months. I put away $50 biweekly (26 times a year) in a Vacation fund. It would take me 4 years to build enough to go to WDW.

What I never understand is why do people buy those gift cards when money is tight?

I think the card represents a promise to themselves, that it really IS goin to happen, sooner or later... since the card is not liquid, like a bank account, it is harder for them to raid.

 

[thelionqueen]

For those that may not understand why buying gift cards is different than just putting the money in an account, maybe this will help. I'm a big analogy girl..lol.

It's like if you have direct deposit. All of your money goes into one account. It's the same amount of money regardless of if it all goes into savings or not. I have 2 separate checking accounts. My payroll check goes into each (2/3 into one 1/3 into another). Even though I access both my accounts with one login and see both balances on the same page AND have 2 debit cards for each..having separate accounts is incredibly helpful and valuable to me.

If every paycheck automatically went into one account..my brain equates that as $ I have. By splitting it out..my brain equates it to.."this is how much I have for bills & "extras" and this I don't touch unless absolutely necessary."

By buying gift cards it is doing several things at once. First and most importantly to me it is creating that "promise" that I am going one day. Second, since they can only be spent on Disney I cannot use them for any other purpose, thus the balance continually goes up with virtually no chance of it going down. Lastly it makes me happy and excited!

I don't have any credit cards at all and I LOVE it and planning on keeping it that way. NO I don't even have one to rent a car..I will use my business credit card to secure it and pay cash.

Everyone has different ways of doing things. For those of us who have little quirks that work...really no one needs to understand them but ourselves

 

[Marionnette]

For those that may not understand why buying gift cards is different than just putting the money in an account, maybe this will help. I'm a big analogy girl..lol.

It's like if you have direct deposit. All of your money goes into one account. It's the same amount of money regardless of if it all goes into savings or not. I have 2 separate checking accounts. My payroll check goes into each (2/3 into one 1/3 into another). Even though I access both my accounts with one login and see both balances on the same page AND have 2 debit cards for each..having separate accounts is incredibly helpful and valuable to me.

If every paycheck automatically went into one account..my brain equates that as $ I have. By splitting it out..my brain equates it to.."this is how much I have for bills & "extras" and this I don't touch unless absolutely necessary."

By buying gift cards it is doing several things at once. First and most importantly to me it is creating that "promise" that I am going one day. Second, since they can only be spent on Disney I cannot use them for any other purpose, thus the balance continually goes up with virtually no chance of it going down. Lastly it makes me happy and excited!

I don't have any credit cards at all and I LOVE it and planning on keeping it that way. NO I don't even have one to rent a car..I will use my business credit card to secure it and pay cash.

Everyone has different ways of doing things. For those of us who have little quirks that work...really no one needs to understand them but ourselves

I do have a few gift cards in my vacation savings but I've come the majority of them through rewards websites and my Disney Visa. I happen to like the convenience of having credit cards for making my purchases. I use the card for all of our recurring bills and then use the rewards dollars to buy gift cards.

And I admit that I have purchased a few as well, like when the grocery store was offering $10 in grocery rewards for each $50 in GCs. It was like getting a 20% discount on the vacation I had planned anyway.

But I won't buy Disney gift cards with the hope that "someday" I will return to Disney. First, because I cannot fathom tying that much cash up in Disney money. Second, because there are components of the vacation that cannot or might not be payable with Mickey Money (airfare, rental car, DVC point rental or offsite accommodations, tickets from Undercovertourist, etc.) And third, because if I cancel for financial reasons, I cannot get my refund in cash - it goes right back on those gift cards.

I understand the emotional component to buying gift cards to pay for your trip. I just can't justify in my own mind.

 

[Hannathy]

I'm with you on this one, put it in a vacation savings account so if you have a serious emergency you will be ok??? Gift cards just don't seem wise to me?

I agree 100%

If I had been putting the little bit extra we have started having since my DH went back to work, we wouldn't have been able to get our Dog knee surgery. Because that is where my hopefully for a vacation fund went to. So no Disney this year but we were able to get the surgery. Oh and next year isn't looking to good either since the refrigerator has decided to stop keeping the refrigerator side cooler than cool. But if I had put it in Disney cards it will be very hard to convince Lowe' s to take them, if it dies completely.

 

[pigletto]

We're in a position now where we can have a healthy vacation account, but there were many years it wasn't even a remote possibility. Then it became a every other year kind of thing, and now more often.
One thing I've found that gets me through rough days and winter blues, and hard work, and every day struggles is to have a plan on the horizon. Just something to dream about and look forward to whether it be 3 or 18 months away.
So Op, I am not going to discuss the benefits or drawbacks of gift cards, but I think it's important to sock away a little bit at a time for a trip. I just wanted to let you know that I get it

 

[TeresaMc]

Guess I'm with thelionqueen I have my check direct deposited into 3 separate accounts, one is bill money, some into savings and the balance into "my spending money". I basically never look at the first two, have all my bills set up on automatic withdrawal so it just takes care of itself, savings is just that and the left over is what I live on.

Maybe it's my OCD...everything in it's right spot ......lol

But to each there own, I also understand some people thinking its not the smartest move.

 

[taymorel]

Good luck on your saving. If gift cards work best for you, I am all for it. People save differently. I have a jar that I put my spare bills to save for tips, meals, and spending $ for my trip. I also bought my son a few gift cards and he loves them. But, he has already asked to use them at the Disney store. He doesn't quite understand he has to keep them until next year.

 

[chiefmickeymouse]

I totally get the gift cards. You are earmarking the money for a vacation that might not happen if you don't do it. I hope things get better with your jobs. Lots of people are struggling these days. Keep up the good fight!

 

[soccermomof3]

For those that may not understand why buying gift cards is different than just putting the money in an account, maybe this will help. I'm a big analogy girl..lol.

It's like if you have direct deposit. All of your money goes into one account. It's the same amount of money regardless of if it all goes into savings or not. I have 2 separate checking accounts. My payroll check goes into each (2/3 into one 1/3 into another). Even though I access both my accounts with one login and see both balances on the same page AND have 2 debit cards for each..having separate accounts is incredibly helpful and valuable to me.

If every paycheck automatically went into one account..my brain equates that as $ I have. By splitting it out..my brain equates it to.."this is how much I have for bills & "extras" and this I don't touch unless absolutely necessary."

By buying gift cards it is doing several things at once. First and most importantly to me it is creating that "promise" that I am going one day. Second, since they can only be spent on Disney I cannot use them for any other purpose, thus the balance continually goes up with virtually no chance of it going down. Lastly it makes me happy and excited!

I don't have any credit cards at all and I LOVE it and planning on keeping it that way. NO I don't even have one to rent a car..I will use my business credit card to secure it and pay cash.

Everyone has different ways of doing things. For those of us who have little quirks that work...really no one needs to understand them but ourselves

WoW!!! This describes us!!! Really it does!!! We do the gift card thing too and yes, it is our promise that we will return.