A new survey is making the rounds on the internet today, and the findings likely won’t surprise Disney Parks fans. According to a study by Lending Tree, 45% of parents with children younger than 18 go into debt to afford a trip to a Disney park. For others the percentage is 24%. That number is a 33% increase from 2022.
It’s totally believable. Disney vacations are ridiculously expensive. For a family of four, the average cost is about $5k—$6k to visit a Disney park.
The Lending Tree study found that”Among the 77% of theme park-going parents with children younger than 18 who’ve been to Disney, 45% have gone into debt for a Disney trip, with 83% acquiring it most recently in the past five years. Among Disney-goers, 24% have gone into debt for a trip — a 33% increase from 18% in our 2022 survey.”
Gen Z and Millennials are the most likely to take on debt to visit the parks.
By age group, Gen Zers ages 18 to 27 are the most likely to take on Disney debt, at 39%. That compares with:
- 39% of Gen Z ages 18-27
- 36% of millennials ages 28 to 43
- 20% of Gen X ages 44 to 59
- 7% of baby boomers ages 60 to 78
Parents feel the cost is worth the memories; according to the study, “90% of parents who’ve taken their children to Disney say it was a treat.”
No matter how much you plan on saving, save more because things inevitably cost more than expected.
The survey found that 65% of those with Disney debt said the food and beverages in the parks were more than they anticipated.
Food is expensive at the parks. You can bring your own food and snacks into the parks but there are rules. Guests can bring their own food “provided they are not in glass containers, do not require heating, reheating, processing or refrigeration and do not have pungent odors.”
Another way to be better prepared is to look at the various dining options and prices in the parks before your trip. The pricing can help you better plan your budget. Remember to add money for taxes. Here are the menus for Walt Disney World and Disneyland.
Also, know that food portions can be larger and easily shared if you aren’t usually that hungry. The heat also makes it easier to eat less. Just make sure you stay hydrated.
Because of the high costs, many refuse to visit Disney parks.
The survey learned that most people who do not visit a Disney Park do so because of the cost. 60% of those who have not visited listed cost as a reason. However, the distance and lines also impacted people’s decisions to visit.
Politics is also a factor that impacts people’s decision to visit, with 40% saying that it has.
Whether you want to visit a Disney park or not, there are ways to plan to minimize your costs or your debt.
Disney often offers some deals that could save you money on your trip. You can also choose to stay off-property or in a Good Neighbor Hotel that works with the theme park.
Saving up for awhile before you take your trip could help keep you from going into debt. Always plan for more than you anticipated. I have a list of ways to save money or save on your trip. It’s from 2020, but they would still apply.
What do you think? Comment and let us know!
Source: Lending Tree
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