LendingTree survey - 45% of Disney-Going Parents With Young Children Have Gone Into Debt for Trip

[jloucks]

What I’m curious about is if they count using a credit card to pay for things at Disney to be debt since technically it is.

However in my case it’s paid off before the statement cuts, so is it really debt? I pay no interest and no annual fee, so I consider it a way to spend 3% less at Disney thanks to cashback.

That is immediately what I was thinking. If you use a credit card, you are "in debt" until you pay it. The article was sloppy in that it did not immediately and clearly define what debt meant here. Almost exactly in the middle, it finally did. ...at least 3 months to pay off (and therefore paying interest).

At least, that's my basic interpretation, it was not super clear even then.

The spirit of the article is that debt is bad, and debt is bad because of interest exceeding income from the loan. So, no, I do not think a debt that is paid off before interest accrues is not debt in the spirit of this article.

I mean, like, 100% of us charge our trips right?

 

[bwr827]

By definition…if you’re repeating your trips it’s not an “experience”…it’s a routine.

Silly semantic game.

 

[jloucks]

That's why you check the statements, but auto pay also keeps you out of trouble if you happen to forget that a card payment was due.

Never had a late fee or missed payment and my credit score is over 800.

Nice!

My goal is a perfect credit score, but that is proving... elusive.

It might not even be possible?

 

[Chef Mickey]

In general I agree but, in this case we are talking about a survey where 75% of people did exactly that.

We don’t know exactly what they did. People with kids went into debt at a higher rate.

The sad part is this survey is just people admitting it. Many of the people probably said they didn’t go into debt but used credit cards and will ultimately not pay them in full. You know, the way so many people use credit cards and why we have such a credit card problem in America.

People plan to pay them off, but life happens and they can’t.

 

[Sirwalterraleigh]

Silly semantic game.

Silly debt game…
“Magical”, huh?

 

[Sirwalterraleigh]

That is immediately what I was thinking. If you use a credit card, you are "in debt" until you pay it. The article was sloppy in that it did not immediately and clearly define what debt meant here. Almost exactly in the middle, it finally did. ...at least 3 months to pay off (and therefore paying interest).

At least, that's my basic interpretation, it was not super clear even then.

The spirit of the article is that debt is bad, and debt is bad because of interest exceeding income from the loan. So, no, I do not think a debt that is paid off before interest accrues is not debt in the spirit of this article.

I mean, like, 100% of us charge our trips right?

Any article about “debt” is tip toed around/parsed…

And why? Because it’s better for everyone…all the time…to have people spending on everything.

Media included.

…except the people spending - of course.

 

[jloucks]

Credit card debt is almost never paid off that quickly. The data show that. Promotional rates exist bc people don’t pay off their balances.

Everyone thinking they can “beat” the system are why the system exists.

People with money just pay for stuff. They aren’t juggling 0% promotions and acting like they are financially savvy by timing markets to beat promotional interest rates and paying off balances at the perfect time to maximize returns. Doesn’t happen. It’s a justification for spending money you don’t have.

Now watch all the poor financial decision makers with no money quote me to tell me I’m wrong.

Soo, in my quest for a perfect credit score, I am faced with a wife who insists on doing the whole "get this credit card for X amount off, a free furbie, and a frapachino". It drives me nuts! My credit score analysis even says basically "stop opening credit cards moron". ...or something like that.

Oh, I left off the lead point, we have money and carry no balances. Those stupid 0% promotions lure in miserly wealthy folk too. Unfortunately.

Now there are financial advisors that will tell you that getting free is a good reason to play the credit card companies at their own game. Maybe... but I don't have time for that. ...which was your point for me at least.

 

[GhostHost1000]

A little debt for an expensive once in a lifetime family Disney vacation might be ok for some, but those folks likely won’t be returning because of the cost. This is where the problem lies long term.

 

[Dranth]

Do people lie on surveys?

That’s my sticking point here.

If you ask people who they’ll vote for in the next election 50% will lie to your face as it stands.

People are always better at everything than in reality…if “surveyed”

I don't disagree and obviously anyone who is already in a bunch of debt really shouldn't be racking up more for vacations but, it isn't unreasonable for many people to be able to pull off something like a six month pay off. Again, not something I would want to do but if you can pull it off and want to, have at it.

 

[Sirwalterraleigh]

A little debt for an expensive once in a lifetime family Disney vacation might be ok for some, but those folks likely won’t be returning because of the cost. This is where the problem lies long term.

Well that’s the problem for Disney…”whale pricing” that only catches minnows in the nets

…maybe some will come back and finance dvc?

 

[jloucks]

By definition…if you’re repeating your trips it’s not an “experience”…it’s a routine.

And financing that seems not the brightest way to go.

There’s a good argument for “one trip”…not so much when you have the hook permanently stuck in your jaw.

It is what it is.

You could take it a step further...

First trip = experience
Second trip = routine
Third trip+ = addiction

I see people that I am pretty sure are addicted to WDW (or travel in general) that are behaving financially like it is an addiction. Going into debt for a trip is one thing. Going into more debt for the same trip again is another.

 

[Dranth]

People plan to pay them off, but life happens and they can’t.

This is the real kicker and why I personally wouldn't put anything on a card I don't already have the money in the bank to cover.

 

[Sirwalterraleigh]

I don't disagree and obviously anyone who is already in a bunch of debt really shouldn't be racking up more for vacations but, it isn't unreasonable for many people to be able to pull off something like a six month pay off. Again, not something I would want to do but if you can pull it off and want to, have at it.

It’s not unreasonable…but the lenders will be the first to tell you they don’t do it

 

[GhostHost1000]

Well that’s the problem for Disney…”whale pricing” that only catches minnows in the nets

…maybe some will come back and finance dvc?

Those trailers are worth the debt right?

 

[mkt]

Soo, in my quest for a perfect credit score, I am faced with a wife who insists on doing the whole "get this credit card for X amount off, a free furbie, and a frapachino".

I’m both in this regard.

Scores over 800, but no issues with churning cards for bonuses in order to get free travel.

 

[Sirwalterraleigh]

You could take it a step further...

First trip = experience
Second trip = routine
Third trip+ = addiction

I see people that I am pretty sure are addicted to WDW (or travel in general) that are behaving financially like it is an addiction. Going into debt for a trip is one thing. Going into more debt for the same trip again is another.

Look where we are?

We’re all addicted to a certain extent…

But not all of us have admitted it, attend a weekly DA meeting and do the pledge…
Like me and Mono

But there are advantages to that too…we tend to be critical because fundamentally don’t want anything Disney is doing to…you know?…suck eggs out loud?

Others claim no addiction…but have a vacation countdown and do “pre-trip reports”

 

[Sirwalterraleigh]

Those trailers are worth the debt right?

…only if you’ll be the Queen of my double wide

 

[John park hopper]

You could take it a step further...

First trip = experience
Second trip = routine
Third trip+ = addiction

I see people that I am pretty sure are addicted to WDW (or travel in general) that are behaving financially like it is an addiction. Going into debt for a trip is one thing. Going into more debt for the same trip again is another.

definition of insanity ---doing the same thing over and over again

 

[Sirwalterraleigh]

definition of insanity ---doing the same thing over and over again

Like “we always go to ohana on the first night…”…while skirting that the price has gone up 250% since you started?

You know who realizes this? A weasel in a sweater on his 167 foot yacht off Santa Monica right now

 

[mkt]

You know who realizes this? A weasel in a sweater on his 167 foot yacht off Santa Monica right now