Rachel Cruze: ‘Bring Home Memories, Not Debt’ — How To Budget for a Disney Trip
Personal finance expert Rachel Cruze recently shared the results of a LendingTree survey, which revealed that 45% of families with kids under 18 years old have gone into debt to experience the magic of a Disney family vacation.
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Here’s what Cruze had to say about Disney and debt, along with some tips for budgeting for a Disney trip.
What Cruze Says About Disney and Debt
“It is not a rite of passage to humanity to go to Disney World, but as parents, that’s what we kind of tend to believe,” Cruze said in a recent Instagram post.
However, she warned against going “financially backward” just so your family can experience the Disney magic. Her solution is to create a vacation budget and get proactive with saving for your goal, because “in terms of vacations, the best ones are the ones that don’t follow you home in the form of a bill.”
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How Much Does a Disney Family Vacation Cost in 2024?
Disney World offers a lot of family fun, with its four theme parks and two water parks providing access to more than 120 attractions. You can also choose from more than 50 entertainment options and 140 dining destinations. But all that fun does have a high price tag.
Mouse Hacking estimates that a Disney World family vacation for two adults and two kids has a baseline cost of $6,865. This estimate includes airfare and transportation, a five-night hotel stay on a Disney property, five days’ worth of Disney tickets and food. It also allows for some Lightning Lane access, a ticket add-on giving visitors quicker access to select park attractions.
Families on a tighter budget can experience the Disney magic for about $4,735, although this figure is for a shorter four-day trip, with only three days in the parks. A family indulging in many Disney extras could spend as much as $10,696, or more.
How Can Families Experience Disney Without Going Into Debt?
Cruze has some tips that can help you plan an affordable Disney World vacation for your family — and the planning part is key to avoiding debt.
Cruze recommends creating a vacation budget and a sinking fund so you have the money saved to pay for your Disney trip in full rather than paying a credit card bill for months or years after the trip. A sinking fund is a way to gradually save for a vacation, or any other financial goal, over time.
Suppose you want to travel in 18 months. Based on the estimates from Mouse Hacking, you would need to save at least $4,700. By putting $277 a month into a sinking fund for 17 months, you’ll have the money to make the trip on schedule.
Here are some other ways to save on a Disney vacation that Cruze recommends.
Don’t Pay To Park-Hop
A Disney Park Hopper ticket allows you to visit multiple Disney parks in one day, but it can cost as much as an additional $50 to $70 per ticket for the privilege. Instead, Cruze said you should check for ticket discounts before booking. Disney often runs ticket specials on its website.
Skip the Disney Meal Plans and Bring Your Own Food
You can purchase a Disney prepaid meal plan if you stay at a Disney hotel or resort, but depending on the plan, it could cost anywhere from $57 to $95 per day for adults and $24 to $27 per day for kids. So, Cruze recommends preparing some meals in your hotel room and bringing food and drinks into the park, which Disney does permit.
Get a Disney Hotel Discount or Stay Off-Site
Disney boasts more than 25 hotels, some of which Disney considers “budget-conscious accommodations.” If you want to stay on Disney property, Cruze recommends choosing one of these more affordable options and watching for special-rate deals.
Choosing a hotel away from the Disney property can also be cheaper than Disney’s pricier resorts, but as Cruze pointed out, you’ll need a mode of transportation to get to the parks. If it’s a rental car, you’ll also have to pay for parking, so be sure to factor in that cost when deciding where to stay. Transportation is free for anyone staying at a Disney hotel or resort.
‘Bring Home Memories, Not Debt’
According to Cruze, your kids will enjoy your vacation “10x” if you aren’t stressing over how long it will take you to pay off the trip. She emphasized that you should bring home good memories rather than Disney debt, because those memories can last a long time.
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This article originally appeared on GOBankingRates.com: Rachel Cruze: ‘Bring Home Memories, Not Debt’ — How To Budget for a Disney Trip