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

[Sirwalterraleigh]

If you use Discover card to pay for your WDW vacation it will take 43 years to pay it off.

By that time they may be done with the beyond thunder mountain project so might as well change a new trip

…that’s the “half full” spirit

 

[Chef Mickey]

Looking at the finer print, seems it’s actually only 307 responders who went into debt visiting Disney.

Again, surveys are weak data. It matters how questions are asked and if people actually do what they say they will do or if they lied.

My broader point was the hard data we have from banks and credit card companies say lots of people struggle with credit.

Also, once you put something on a credit card, very difficult to discern what is paid off and what isn’t even you keep a revolving balance. Disney was paid long ago.

 

[Chef Mickey]

people with money are almost always not just paying for stuff. People with money are generally good credit risks, meaning they have access to preferred credit rates. If I can finance a payment, whether its a house, a car, or a trip, and keep my liquid assets available for investment and better ROI's it would be insane to just pay for stuff.

Right, since that logic has worked for the other millions of people who say the same thing. I get the math…doesn’t work in reality.

You’re basically saying to buy everything on credit as long as the rate is lower than the return on investment elsewhere. Good luck getting rich trying to do that.

 

[mkt]

There are scenarios where loans make better financial sense if you’re money can be put to better use elsewhere and beating the interest rates on the loan.

I've done this before with larger purchases that offered 0% financing.

My rules are simple: I need to be liquid enough to pay it off immediately, and I need to be able to earn more from holding on to that cash than from paying it off.

0-2% automaker promo financing is a good example of this.

 

[UNCgolf]

I've done this before with larger purchases that offered 0% financing.

My rules are simple: I need to be liquid enough to pay it off immediately, and I need to be able to earn more from holding on to that cash than from paying it off.

0-2% automaker promo financing is a good example of this.

You're almost always better off taking the financing if it's 0%. You're generally "earning" more just by virtue of inflation.

 

[Gringrinngghost]

If you use Discover card to pay for your WDW vacation it will take 43 years to pay it off.

By that time they may be done with the beyond thunder mountain project so might as well change a new trip

and Space Mountain still won't be re-tracked.

 

[JMcMahonEsq]

Right, since that logic has worked for the other millions of people who say the same thing. I get the math…doesn’t work in reality.

You’re basically saying to buy everything on credit as long as the rate is lower than the return on investment elsewhere. Good luck getting rich trying to do that.

Math works regardless of if you think it should or not. If people are too undisciplined to implement a good plan then they are at fault. Not the math or the plan.

No one ever said that’s how people get rich. The discussion here was about spending by people who are already rich. You don’t use LoC or large other credit limits to get rich. It’s people who are already rich that have access to large amounts of credit are better than market rates to leverage in the manners discussed.

 

[spock8113]

It's funny, the general proposed theory is that "raising ticket prices will keep out the riff-raff out."
Never really understood that philosophy since "riff-raff" can be at all economic levels.
I think many people who can't pay for the trip outright feel their kids' vacations are once in a lifetime so they do what they can to take them where "everyone" says you should go. Then you go. It's like Christmas shopping on credit cards. Instant gratification with months of budget juggling.
There's lots to see across America that you don't have to take out a mortgage or wait online for 2 hours.

 

[NickMaio]

I know many parents that go into deep debt so their kids can play competitive sports.
Junior A and AA hockey can be up to $30-50,000 a year!!!

Everything is rising - - - well almost everything - - - most salaries are not even close!!!

 

[Sirwalterraleigh]

It's funny, the general proposed theory is that "raising ticket prices will keep out the riff-raff out."
Never really understood that philosophy since "riff-raff" can be at all economic levels.
I think many people who can't pay for the trip outright feel their kids' vacations are once in a lifetime so they do what they can to take them where "everyone" says you should go. Then you go. It's like Christmas shopping on credit cards. Instant gratification with months of budget juggling.
There's lots to see across America that you don't have to take out a mortgage or wait online for 2 hours.

Correct

Also that “raising to limit crowds” was the biggest lie every spun to and gobbled up by Disney apologists.

That was never the goal…no public company that sells non-essential product ever is looking for fewer customers. They’d be hung from the board room

The goal was this pathetic psychological strategy by Bob and his low talent underlings…

Drive people to exactly this: overspending on trips. And if they never return…no problem, increase prices more.

Cause there is an unlimited ocean of fish that want to jump of the hook for the Walt Iger Company. Limitless appeal and draw for “the brand”

Well now we see how anti-logical planning plays…a major decline in demand when economics say it should be the exact opposite

About as well executed as government farms run by a third world junta

 

[Sirwalterraleigh]

I know many parents that go into deep debt so their kids can play competitive sports.
Junior A and AA hockey can be up to $30-50,000 a year!!!

Everything is rising - - - well almost everything - - - most salaries are not even close!!!

The greed gates were opened 4 years ago to push things beyond reasonable tactics and all the piggies went to feed…

Straight out of the Shock Doctrine…textbook. Profiteering off a crisis

 

[yensid67]

But the fact that people take out a loan to spend a week at Disney is the facts! Or they have saved for YEARS to spend 1 week or less at WDW. But then you are hit with the EXTRA prices that you NEED to spend in order to have a decent day at a WDW park.

If you are in the planning stages of a WDW trip, I would suggest #1- You stay OFF PROPERTY! There are very nice hotels around, it might not be on par with a Disney hotel, although in some cases it may be better, but you won't be in your hotel room much so why pay over $100/night? Disney hotels have been "UPDATING" to more minimalist style that has NO DISNEY CHARACTER OF THEMING, so why pay the high prices they charge!? #2- Use a discounted site for your trip! Undercovertourist.com is a one stop shop for tickets, hotels, rental cars and other attractions AT DISCOUNTED PRICES!!!! Or someone on here might offer another site! If you need help, go to the TRIP PLANNING tab and ask as many questions as you want.