Yahoo Finance Guess How Many Parents Go Into Debt For A Disney Vacation? Surprisingly, They Consider It A 'Treat' And Have No Regrets
A study by LendingTree has revealed that a significant portion of American visitors to Disney theme parks are taking on debt to fund their magical getaways. According to the data, 24% of surveyed visitors have incurred debt for their Disney trips, a figure that jumps to 45% among parents with children under 18 years old.
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The study highlights that for many families, the financial strain of a Disney vacation is outweighed by the perceived value and joy of the experience. "Among these parents, 59% say they have no regrets," the study reads. "Additionally, 90% of parents who've taken their children to Disney say it was a treat." On average, parents of young children took on approximately $1,983 in Disney-related debt.
Survey respondents who went into debt highlighted unexpectedly high costs during their trip: 65% reported in-park food and beverages as a significant expense, followed by transportation and accommodations, cited by 48% and 47%, respectively.
The demographic breakdown of the study offers further insight into who is most likely to take on debt for a Disney vacation. Men were more likely than women to incur debt (32% vs. 16%), and younger generations reported higher levels of debt, with Gen Zers and Millennials at 39% and 36%, respectively. In contrast, only 7% of Baby Boomers reported taking on debt for their trips. Household income also played a role, with higher-income households more likely to accrue debt, though the percentage remained significant across all income levels.
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The financial strain of Disney vacations is a common topic among Disney enthusiasts on social media. In the Disney Annual Passholder group on Facebook, a post asking about going into debt for Disney vacations sparked various responses, reflecting diverse approaches to funding these trips. One user posted: "This may be a crazy personal question for some. But do many people put themselves in a little debt to take a Disney vacation?"
One user shared their approach, noting, "No, We save up beforehand and then go." Another recounted a family experience tied to significant life events: "So my dad was in the navy and was getting ready to leave for what we didn't know was two years ... We went all out! Disney, water parks, Universal, resorts. It was amazing. What my dad did was transfer the like 10k in debt onto a credit card that had no interest for the first year and paid it off over that year."
Other responses varied from financial caution to a carefree attitude. One user wrote, "I do!" A young adult in her 20s mentioned, "I save until I have the money to pay for it. For vacations, I always make monthly payments after I book or pay in full at the resort during check-in." Another person simply stated, "YOLO. No money is going with me when I die. As long as my bills are paid, I'll spend it how I want."
The insights from the LendingTree study are eye-opening about the financial pressures and personal values that influence how families plan their vacations. If you're considering a similar trip, it might be wise to consult a financial advisor to ensure your vacation plans align with your budget and financial goals.
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