Disney Layaway

[englanddg]

Bad credit? Poor spending habits? Need some financial advice?

You too can have a magical visit to Disneyworld now!

https://disneyvacationaccount.disney.go.com/

 

[StarWarsGirl]

Interesting...though it's probably a better idea to put the money into a savings account and have it earning even a little bit of interest. Gives you a good estimate of what your vacation will cost, though, which would be very helpful

 

[englanddg]

Interesting...though it's probably a better idea to put the money into a savings account and have it earning even a little bit of interest. Gives you a good estimate of what your vacation will cost, though, which would be very helpful

Savings is hard.

 

[DManRightHere]

That looks really fun for families. Teach the kiddos. I'm not doing it, but I have no kids.

 

[englanddg]

That looks really fun for families. Teach the kiddos. I'm not doing it, but I have no kids.

Unfortunately, I don't think it's aimed at the kiddos.

 

[DManRightHere]

Hey and you can get 2% interest sort of. Says you get a $20 disney gift card for every $1,000 spent. Not bad if I'm understanding it correctly.

 

[Lord_Vader]

Hey and you can get 2% interest sort of. Says you get a $20 disney gift card for every $1,000 spent. Not bad if I'm understanding it correctly.

Not 2% interest at all, the effective rate depends on how long you money sits in the account. We used it but my $$$ were only there for about two weeks and I got $80 in gift cards for a little effort.

 

[DManRightHere]

Not 2% interest at all, the effective rate depends on how long you money sits in the account. We used it but my $$$ were only there for about two weeks and I got $80 in gift cards for a little effort.

So that could have been $4,000 in the account?

I guess I should have said you get 2% back on your investment?

 

[Lord_Vader]

So that could have been $4,000 in the account?

I guess I should have said you get 2% back on your investment?

I just don't want to pass any misinformation around. Someone could be saving two or three years out, this would be a very bad deal then but for us it was a very good one.

 

[DManRightHere]

I just don't want to pass any misinformation around. Someone could be saving two or three years out, this would be a very bad deal then but for us it was a very good one.

Yes. That makes sense.

 

[minniemickeyfan]

Hey and you can get 2% interest sort of. Says you get a $20 disney gift card for every $1,000 spent. Not bad if I'm understanding it correctly.

Yes, the 2% interest rate is if you leave the $1000 in an account for an entire year, than the $20 could be called a 2% annual interest rate.
If you leave your money in for a much shorter amount of time, the effective rate is much greater. If I put in $1000 and get $20 in a few days lets say, that is a really good interest rate!
If you save your $1000 for several years in the Disney account, your $20 doesn't look so good.
I would only use it if I knew I was going to Disney within the year.

 

[Mawg]

It's a money grab.

 

[MaryJaneP]

Sounds like a great idea sorely needed in today's impatient world. Saving and delayed gratification are winners to us. It would be even better if TDO could incorporate some kind of earnings structure beyond the $20/1k . What happens to money if cancellation? Hope there isn't a forfeiture risk that would make this a pure money grab. Is there some planning/timetable functionality that would allow WDW to anticipate demand/crowds?

 

[DManRightHere]

Yes, the 2% interest rate is if you leave the $1000 in an account for an entire year, than the $20 could be called a 2% annual interest rate.
If you leave your money in for a much shorter amount of time, the effective rate is much greater. If I put in $1000 and get $20 in a few days lets say, that is a really good interest rate!
If you save your $1000 for several years in the Disney account, your $20 doesn't look so good.
I would only use it if I knew I was going to Disney within the year.

Sort of lol.

I really should have said 2% back on the investment assuming one is saving even thousands.

 

[FrostyNaples]

Interesting...though it's probably a better idea to put the money into a savings account and have it earning even a little bit of interest. Gives you a good estimate of what your vacation will cost, though, which would be very helpful

Of course many can do better managing their own money, but as the OP has titled 'Disney Layaway', it is exactly just that.

Those who use layaway programs like the care free option of sending in money when they can, for a specific goal, and not having to manage it themselves.

It's a niche of customer Disney marketing targets.

Would I use this program? No. Will some latch onto this? Yes.

Are we debating you can get a better return handling your own finances? of course not, investors certainly don't use layaway!

 

[minniemickeyfan]

Sounds like a great idea sorely needed in today's impatient world. Saving and delayed gratification are winners to us. It would be even better if TDO could incorporate some kind of earnings structure beyond the $20/1k . What happens to money if cancellation? Hope there isn't a forfeiture risk that would make this a pure money grab. Is there some planning/timetable functionality that would allow WDW to anticipate demand/crowds?

https://disneyvacationaccount.disney.go.com/questions/#withdrawingRefundsFromMyAccount
Looks like it goes back to the original payment if you want to cancel.

 

[PrincessNelly_NJ]

Been using that for the past year. We buy discounted target gift cards and add them into the account.

Saves us $70 on every $1,000!

 

[FrostyNaples]

Been using that for the past year. We buy discounted target gift cards and add them into the account.

Saves us $70 on every $1,000!

THAT is a great way to double dip. The 5% from target, and then 2% from Disney.

Assuming your never carrying a revolving balance, and thus the interest against you if you were.

 

[PrincessNelly_NJ]

THAT is a great way to double dip. The 5% from target, and then 2% from Disney.

Assuming your never carrying a revolving balance, and thus the interest against you if you were.

I use the target debit card. No interest!

 

[FrostyNaples]

I use the target debit card. No interest!

Excellent.

As a matter of fact, this just sparked an idea, and followed through.

As a gift for someone's birthday coming up, I just ordered the $50 Disney Gift Card from Target.com using my target card.

$47.50, free shipping, no tax.

Just made me 5% happier today!