Enjoying your family vacation - on a budget

Posted By: Robert Martino, CFP®, CRPC®

Ask a child where they would like to vacation with their family and Walt Disney World^® ranks as a top choice. Kids love the magic of Disney and parents appreciate the family-friendly experience. With a little forethought, you can plan an exciting family vacation that works with your budget.

 

Time your stay

 

If you can, try to schedule your trip during the off season. According to Disney World, there are lighter crowds beginning in August and running through December. Their resorts may offer lower rates at this time as well. You may also be able to get lower airfares because you won’t be competing with spring break or summer fares.

 

Look for affordable accommodations

 

If you want to stay at a Disney World Resort, you can choose from a wide range of properties and price tags. At the low end, you can pitch a tent at Disney’s Fort Wilderness and pocket significant savings. Resort guests have access to free airport and park shuttles (and free parking if you drive to the resort), so you can subtract a daily parking expense that would accrue if you stayed at a non-Disney property. Another way to save money is to look for a hotel or rental property in nearby Kissimmee, Fla. — preferably with a kitchenette so you can prepare your own meals. However, if you have small children, having your hotel in walking distance of the park may be a convenience you can’t afford to pass by.

 

Buy your tickets in advance

 

Advance ticket purchase may make it easier to plan your trip and budget your time and money. The most affordable tickets allow one park entry per day. However, Disney allows you to customize your tickets with the flexibility to visit additional theme and/or water parks for an additional fee. The more days you purchase, the more you save. For example, based on a recent visit to the official Walt Disney World site, you can save $36 per ticket per day for an adult “Magic Your Way” ticket by simply extending the daily passes you purchase from a 3-day ticket to a 7-day ticket. Of course, you’ll spend more simply by lengthening your vacation those extra four days, but you’re getting more value for the days you’re there.

You may be eligible to purchase discounted family vacation ticket packages through your employer, so be sure to inquire. You can try to purchase family theme park tickets on eBay, but there’s no guarantee you’ll find the combination of days you need or that you’ll win the bid.

 

Limit your meals in the park.

 

Eat a hearty breakfast before you start the day to avoid a hunger attack inside the doors. If you plan to spend more than several hours on site (and most people do), pack snacks and beverages rather than purchasing expensive park fare. Disney discourages guests from bringing food into the park but does provide a picnic area outside of the gates and lockers are available to store a small cooler or backpack. To please the kids, the character breakfast (or lunch or dinner), a fun-filled meal featuring the likes of Snow White, Cinderella, Mickey and other favorites, is one park meal you may want to consider. Advance reservations are recommended.

 

Gather free information online

 

The official Disney World site provides a wealth of information on their parks, ticket packages, hotel options and much more. Between this information and the many public sites offering tips and recommendations for how to best enjoy your time at the other parks, you will have plenty of information with which to plan your trip.

 

Start saving now.

 

If you plan to go on a family vacation or visit Disney World within the next year or two, start saving now so the expense is easier to bear. Set a target budget for your vacation to determine how much you need to set aside each month to afford your trip. Consider talking to a financial advisor for ideas on how to save for your short- and long-term goals. Make the right choices for your finances now so you and your family can experience the magic of Disney and much more in the years to come.