When would you start saving?

[MagEpcDisAni Voyager]

Hey everyone. I know this is a little early for me to even think about it, but here it is.

I am planning a trip for me and a bunch of friends in February 2006. We are planning on staying Eight nights at the Pop Century Resort. We want to get Six Day park hopper Plus passes, and go to Universal. Witha ll this food and transportation we have cumulated that it will come to about $1200. Now I am a sophmore in High School who doesn't make more than $100 for a part time job. Most of my friends are like this to. I also work at a summer camp wehre I get about $800. i don't plan on svaing every bit of my paycheck and neither do my friends.

Here is the dilemma. I want to begin saving this year with putting aside a bit of my paycheck everyother week and use about half of my camp money. My friends seem to feel it would be too early at all this year to begin saving. Am I Crazy to begin saving now even though it is two years away. I don't make a lot of money and neither do my friends and I think that waiting until 2005 would be foolish, but that is what some of my friends want to do.

So, do you think I am saving too early and my friends are right or do you think it would be wise to ebgin saving soon.

 

[CHIPSTER]

It's never too early to start saving for a trip to WDW. I would buy my admission ticket this year if possible to avoid future price increases until 2006. Looking at your calendar if you would save $1/day that would give you $764 and you are stating you would like about $1200. Start now.

My sister and I do the dollar a day fund in between trips and that pays for our food and souveneirs.

 

[Krissalee]

Start saving now! Your friend who hold off on saving their $$$ will probably either come up short, or won't be able the spend the $ on extras, as you will be able to do.

 

[MikeWazowski]

I'm with everyone else, start now. I am always saving for trips and misc. things (mainly WDW trips). Instead of buying a hopper now, you should probably buy a AP when that time comes ($392). Hopefully, Universal will offer a 5 day for 2 day ticket for $89.95. Prices will go up, but I can't imagine to much.

In 2006 you will a senior in HS, there will probably be other things that you will need money for (probably a car + gas for the car + insurance for the car + all that other fun stuff you will want from now on). So starting now is a must.

Your planning on a good time in Feb. because there will probably be good AP codes and other good codes out. So if you go the first two weeks a Feb. you may be able to get the Pop for 49 bucks, like now. Which will save a bunch a money.

It is better to have more money then not enough. This will probably be a very long two years so good luck and have fun.

 

[Tiggerlover91]

Considering the following factors I'm about to list, I would start saving now:

You're only a sophomore in high school, and as you said, you're not making a whole lot of money right now.

Once you become a senior in high school, who know what type of bills you may have....car payment maybe, insurance, gas, what have you.

You just don't have a steady income and if you wait til the last minute you may be sorry.

See, I have a trip planned in 2006 also, in May. However, I'm NOT saving now. The difference is, I'm 34 years with a steady job, two of them as a matter of fact, I have a husband with 3 jobs....yeah, yeah I know...we're a busy family, I'm a waitress, so the money is quicker to come by and save when I'm ready, AND hubby and I always get an income tax refund every year. I always take part of that to fund my trip.
I always start saving the year before we're ready to go to Disney, so I'll start saving in January of 2005 and our trip will be paid for long before May of 2006 rolls around. One small fact I forgot to mention, I've got a bit of a "cushion" in my checking account right now...about $200 and it keeps growing. If hubby and I don't touch that, I will use some of that to fund our trip too. I will probably use that for hopper passes since I'm a FL resident and can get great deals on those tickets.
By you wanting to save now, shows you're a bit more on the responsible side than your friends maybe. As one has already said, they're going to wait til the last minute and they won't have the money you will and one of a few things will happen: they won't be able to go, they will ask you to help pay, or they will be able to go, but you'll have to help cover in a few adventures because their money is tight. Believe me, you DO NOT want any of those to happen, especially the latter of the three.
You just start saving now, it's NEVER to early to be ready for Disney. My trip is still 2 looooooooooooooooong years away, but it's fun just planning for it and know it's coming. You get that savings jar out and start throwing those ones and loose change into it, you'll be AMAZED how fast that will add up. Since Oct of last year by me putting my change from tips and odd dollars in my jar, I have about $185 in it! Not too shabby huh?
Best to you on your planning and keep us posted okay.

Denise

 

[powellrj]

If you are really sure that you will be going to disney, ask friends and family to give you disney dollars as gifts. These are only good at disney so you can't be tempted to spend them other places and you will be that much closer to your goal.

 

[frannn]

you will miss the $ much less when you save it earlier, in smaller increments. You will also avoid the stress and pressure your friends will have when they try to save the money in a shorter period of time. You will probably end of with $ for extras, so you be able to be more flexible with your dining, playing, and shopping choices while in WDW.

 

[MELSMICE]

You are definitely a smart teen. Start saving now - your friends don't even have to know.

My tips:

--Go over your budget & figure out how much you can put aside a week. It may only be $5 but it is something. Try to always put it aside & not skip a week. Don't touch it after it's set aside, whether you keep it in a secret place at home or put it in the bank. At $5 week until February of 2006 this is about $500 - almost 1/2 the cost you are figuring.

--Save all loose change. Even if something you purchase adds up to $4.12 - save the 88 cents & put it in a "change bucket" as my family calls it. This will add up. Use that for your souvenir money.

--As time goes on you will probably make more money, however, as others have said, you will have more bills.

One important thing. Remember, you are saving for your trip! As another poster mentioned, if others don't have the money they may figure you will be willing to cover some expenses for them. If you start saving early, you are being responsible for your yourself & you should reap the benefits. Let your friends be responsible for themselves also.

Keep us posted on how you do. I give you a lot of credit for anticipating the cost of a nice vacation and being mature & responsible enough to plan for it now.

 

[MagEpcDisAni Voyager]

Seriously thanks to all of you. I appreciate your help. I am starting now and I have talked to some of my friends. We have gone over it and they plan to start svaing at the end of the summer. I will start now. They will make a lo of money working at Summer Camp so that should cover most of ti and they have jobs also. So I think we are in good shape. I am going to keep tabs on everyone though as are my two other friends who are basically the leaders and organizers of the whole trip. We know we need to begin saving soon. I'kk update thing on the boards to let you guys know.

THANKS!

 

[dolphincrazy]

I agree, it's never too early to start saving and if you go to the
thread about INGDIRECT you can open an online savings account and deposit as little as $1 if you get a referral from someone who already has an account(me and countless others in that thread can send you one via email) you'll get $25 to open the account then you can refer up to 25 people and for each one that opens an account you get $10 (25 people x $10= $250) I have ING take $25 a week and put it in my account. no fees, no minimum balance
FDIC insured if you want to read about them go to http://www.ingdirect.com/ if you want a $25 referral link you can send an email or PM with your first and last name and email address to anyone on that thread and they'll send you one or
you can email me maryann.birdsall@snet.net and I'll get one right to you. you must have a checking account to link to everyone who has signed up has had the money deposited into their ING account, it's safe and easy and a great way to save plus you earn 2.00% interest. good luck with saving!
Maryann

 

[disneyjunkie]

Do your parents or your friends parents shop online? If so, why not get them to join mypoints?(check out the rewards board)

You can use your points for Rainforest Cafe GC. You may be able to earn enough GC to cover a huge meal there. The GC are worth $25.00 each.

I agree with the poster who said to buy your park passes now. That will be one less thing to worry about later.

I just opened an ING account. I'll use it for our Christmas trip. If you open yours first, you can give all of your friends referrals and and get an extra $10.00 for each one. (free money)

Is there a Disney Store near you? You can start buying Disney Dollars and put them aside until your trip.

Good luck and please keep us posted.

 

[EsmeraldaX]

My trip is in 34 days and I made up a budget sheet on excel at least 5 months ago and have started seriously piling money into my Disney account fund for 2.5 months. For the last month I've been selling stuff on Ebay - made over $500 in two weeks. I think having most of the stuff like hotels & park tickets and such already paid for by the time I arrive, I'll end up with about $700 for food/spending money for 5 days at Disney.

 

[jlp651]

Someone mentioned the change bank...awsome idea! We pay for all of our little trips this way...weekends and stuff...get a BIG jug and challenge yourself to fill it!!!

Someone also mentioned Mypoints...another good one!

Being a sophmore...you're still asked for lists for Birthdays and Christmas...MONEY!!!! Is always great...or even better-DISNEY DOLLARS!

I started a Christmas Club account with my bank...it allows me to put $$$ away...and not take it out with out penalty...it does become available in October...I've managed to put away about $5000

YOu can always mow lawns, walk dogs, baby sit...and just bank that money...Garage sales, ebay...and you can even cut out all the little things..like bring your lunch to school...etc...