Spending money!!!

[lisagirlyUK]

Ok I know this is a 'how long is a piece of string?' kind of question but I am completely clueless about how much money to take. We could take about £3k with us but would that be too much?

Just to explain that there are 7 of us going - family and my husband and me. We have bought all our tickets so for me and my husband we are literally talking food for 2 weeks and some money for souveniers. We aren't Disney fiends (sorry!) so wont be buying any collectables but I would like to be able to buy anything unusual for our house.

So what I really wanted to know is what is the minimum we should take (ie for food etc). I can decide whether to do that and put everything else on the credit card or take all money and in the hope we dont spend it, then have to convert it back when we get home.

Any advice would be great

 

[signtalker]

We take 3K and theres only 3 of us lol!!!!

jules

 

[barrysprot36]

When we went to WDW in 2002 we took £1000 in $TC, £200 in $ and CC. We didn't spend anywhere near £3000 though. TC covered food, drinks and some souvenirs. taking the same this year too.

 

[KayleeUK]

Hi Lisa

I look at what we are doing each day, see where we are eating or go and get a rough idea of what we will spend each day You can eat cheaper if you are eating at some of the restaurants off site. We also limit ourselves on nick nak's etc otherwise I would spend a fortune LOL

 

[vernon]

I would take less cash (maybe £1k in US$) and use credit cards ( if you have them). Changing money back into £ can work out expensive, in the unlikely event of you bringing back a decent chunk of change it's likely to have cost you close on 10% of whatever you change back into £ in the "bid/offer" spread. I tend to use mostly CC/debit cards at the begining then as I get near the end of the holiday make sure I use up any $cash I have. that way I don't bring too many dollar bills home with me.

 

[allie5]

We tend to budget $120 a day for food...thats for 3 adults 1 child and a baby. Some days we would spend more if we had a nice seat down meal at WDW, othertimes a lot less if we were shopping and grabbed a Pizza or burger. I worked out the average was around $120 a day (that includes water at the parks as well, though we do bring some of our own in). This year I may need to increase it a bit as my son will then be two and he already puts away more than the 4 year old!

Convert your £3k into dollars and divide by seven to give you an average person spend....that may help you. I make it around $750 per person using an exchange rate of $1.75. Have to say, you may need a tad more if you are going to be eating at a lot of sit down places. Maybe have a 0% interest credit card for back up, just in case???

 

[DisneyBB]

For the four of us DH, me, 2 xDD's (10,4) we take about £1200 for 19 nights. We tend to not eat in expensive resturants and tend to try and spend about $50 a day on food. I know that sounds so little, but we eat breakfast in our apartment and sometimes have dinner at home. We then have about $100 each for our own bits and pieces. We tend to have money left over and we just put it aside for next years holiday. You can spend a fortune, but since we go nearly every year, we tend to spend less.

 

[lisagirlyUK]

thanks for the info folks.
Sorry I probably didnt word my post correctly - we were thinking about taking 3k but thats just for H and myself. we are going with 4 others form my family so there probably be nights when we will pay for the meal for everyone but then nights when we have our meal paid for.

Thanks

 

[DisneyBB]

That is a lot of money for two, you will probably bring a lot back. The food is so cheap and good value for money. Even if you eat $100 meals every night that will only be $1400 in two weeks. We struggle to speand $40 in resturants because the portions are so big we try just to stick to main courses. With that kind of money you could do a lot of extra things, like cirque d'solie (spelling !!!!)

Have a great holiday, wish I could take that much!

 

[kazd]

If you are taking a cc the best one is Nationwide, they do not charge the 2.75% commission that the other cc companies charge, same goes for their debit cards for withdrawing cash. We just take some initial currency (£600's worth) and then use our cc for everything and if we need more cash we just withdraw it at the machines. The cash is just for odd's and Sod's and icecreams etc

 

[eileds]

We went in April for 2 weeks. A family of 5 , 3 kids aged 6,5 & 2. We also went with my parents.

The kids had about 90$ each to spend on whatever they wanted- within reason. We had to find money for food and any other bits. we took £1800 and credit cards.

We spent £1000. We always had breakfast at the villa, occasionally had another meal there. We bought ice creams, drinks etc in the parks and a few gifts.

 

[florry]

We didn't spend as much as we thought.

Unfortunately, we had taken all our spending money in dollar travellers cheques and lost a fortune when we came home.

This year we will use the credit card for everything (using one of the interest free ones) and take around $800 in cash. We can always use the cash point.

Have a good time

 

[lisagirlyUK]

Can you use a cashpoint out there? for your regular bank card or your visa? if its for Visa aren't there high charges?

Thanks

 

[kazd]

Originally posted by lisagirlyUK
Can you use a cashpoint out there? for your regular bank card or your visa? if its for Visa aren't there high charges?

Thanks

Most banks and CC companies will charge you commission of 2.75%. If you have time its worth looking into getting a Nationwide CC and a Nationwide bank account (even if you only use this for holiday's abroad). They do not charge any commission, so if you withdraw £100 in dollars at say 1.71, you would get $171.00. If you withdrew from one of the other banks you would be charged so your $171 would actually cost you £102.75 (approx). It may not sound a lot but would add up over the course of your holiday.

Never use your credit card to withdraw cash because you are charged interest from day one.

In addition you will earn 0.5% cashback on you Nationwide CC, not a massive amount but better in your pocket.

Kazd

 

[kazd]

Originally posted by lisagirlyUK
Can you use a cashpoint out there? for your regular bank card or your visa? if its for Visa aren't there high charges?

Thanks

Forgot to say. If your cashpoint card is a debit/check guarantee ie you can use it in the shops like a CC but the money is taken directly from your current account, then thats fine. If your Visa is your CC do not use it to withdraw cash. If your cashpoint card is just that ie you can only use it to withdraw from the whole in the wall, then you won't be able to use it.

Kazd

 

[lisagirlyUK]

ooh dont know what to do now!!! lol!!!

think I might take half the amount I had planned in cash and then use my CC for shopping and the more expensive meals, petrol etc.

I have a CC thats interest free for all purchases til sept so that would work out ideal

 

[kazd]

Originally posted by lisagirlyUK
ooh dont know what to do now!!! lol!!!

think I might take half the amount I had planned in cash and then use my CC for shopping and the more expensive meals, petrol etc.

I have a CC thats interest free for all purchases til sept so that would work out ideal

Lisa,

Don't forget your CC maybe interest free but if its not Nationwide you will be charge 2.75% per transaction. I note that you have 75 days to go, plenty of time to apply for a Nationwide Card. Have just checked their site, not only are there no commission charges for transcation made abroad but they have six months interest free on purchases as well.

You have a couple of choices, classic which give six months interest free or the cash reward card that give 1% cashback for the first six months and then 0.5 thereafter. So if you intend to pay the credit card bill in full on your return then the cashback is the one for you.

By the way I do not work for them I just bank with them and find them very good.

For my everyday card though, I have a Capital One Circle Card which is always 1% cashback. I use my CC for everything even for £2 or £3 spent at the co - op, but then clear the account every month. Over the year it adds up considerably and I get a nice credit once a year into my CC account, usually at Christmas which is handy.

Let me know what you decide to do.

Kaz

PS. Apologies if this is information overload!!!!

 

[Pootle]

Just want to second what kaz has said about Nationwide credit card - it makes quite a difference. I have dollar amounts coming through on my card all the time (a long story) and so I always get to see the Nationwide rate (I check my account on the internet every couple of days) compared with the tourist rates. Last week a transaction went through at £1 = 1.777, when the tourist rate was about 1.70 (I think it may have gone up a cent or two since).

It's well worth getting one. We take a little cash, a few travellers' cheques and the rest goes on Nationwide.

 

[lisagirlyUK]

I'll take a look into it!!!!

Thanks

 

[lisagirlyUK]

I just wondered as I own about 10 credit cards!!!! Is Nationwide the only one that you have been able to find that doesn't charge this fee?

Thanks