How to Save For Disney Now that Disney Vacation Account is Gone
In late 2017, Disney World announced that it was closing its Disney Vacation Account program due to low participation. This savings system offered a bonus of $20 for every $1,000 saved in a special account, which ultimately could be used for a trip to DisneyWorld or Disneyland. Existing program participants can either request a refund of the funds in their account by check or by gift card.
While the program apparently was not popular enough to warrant its continued existence, many families still want an easy and convenient way to save up for their Disney vacation. With the Disney Vacation Account program gone, this leaves many people searching for new and innovative ways on how to save for Disney and the trip of their (or their kids’) dreams. Read on to learn how you can find different ways to save up for your big vacation.
Start a Separate Bank Account as a Travel Fund
It can often be difficult to save money when you constantly find yourself pulled in different financial directions. If money is readily available in your checking account, it is easy to spend it — which makes it all the more difficult to save it for a Disney trip!
That is why it makes sense to start a separate bank account to use as a travel fund specifically for your Disney vacation. Look for a bank that offers a great interest rate, which may involve choosing an online bank. Then figure out a savings game plan: based on when you would like to travel and how much you need to save to get there, determine how much you need to set aside each month in order to make your dream a reality! Then you can start on your next steps — funding your bank account.
Set up Automatic Deposits for Your Vacation Fund
With our hectic, fast-paced lives, it can be hard to remember to add an extra $100 towards a Disney fund each month. Using automatic direct deposit can make sure that you never forget — and that your account steadily grows.
Most banks give you the option of transferring money directly into other accounts automatically each month. This allows you to build up your vacation fund painlessly. After all, if it’s never available for you to spend, you won’t have the chance to blow money that could otherwise go towards your Disney trip!
Cut Down Expenses to Increase Your Savings
While it may sound old-fashioned, making a budget is a sure-fire way of keeping your finances on track and helping you devote more money to savings. The process may be tedious, but it’s simple: just list out all of the money that you have coming into your house each money, and everything that you spend (bills, groceries, and even trips to Starbucks). There are a number of apps available that make the process even easier. Once you have completed this task, start looking for ways to cut your monthly expenses. Perhaps you have been eating out too much, or realize that your cable bill is way too high — think about cooking more, or getting rid of cable. Each dollar that you save is a dollar that you can put into your Disney savings fund!
You can get creative with your budget, and talk to your kids about what they would be willing to give you in order to go to Disney. Perhaps they don’t really love their expensive dance classes, or have decided that they don’t really need so many new clothes. Working on a budget together is a great opportunity for family bonding — as you come together for a common goal.
Pick Up a Side Gig
Another option for anyone looking to build up their travel fund is to consider doing some jobs on the side. This could be anything from freelance writing to photography to making and selling crafts on sites like Etsy. Whatever you excel at, think about how you can monetize it! Any money that you make from it can go directly to your vacation fund — getting you even closer to your travel goals.
As an alternative, you may want to hold a garage sale, or sell items on eBay. These also require work, but may be something that your family can do together. It may also result in bigger gains depending on the type of items that you have to sell!
You Can Still Capture the Magic!
Ultimately, the end of the Disney Vacation Account program does not mean that saving for Disney vacations has to end — it just means that families will have to get a bit more creative in how they go about accomplishing their goals!
By guest author June from dinks.co. She’s a new personal finance blogger who’s had her fair share of savings. One day she hopes to take her own trip to Disney World to take part in the magic!
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