How I’m Saving for Disney on $20 a Day
There comes a time in every parents life where your kids realize that Disney just isn’t movies. (Sigh..) They realize it’s the most magical place on earth.
Usually, that realization comes when someone else in your kids class goes to Disney first and comes back and talks about it for months. 😉
…. and they want to go too…today.
Honestly, I have been waiting to take my kids to Disney since they were born. I loved when my parents took me there and I couldn’t wait for the opportunity to take my family.
As the family Chief Financial Officer, I am left with figuring out how to make their magical kingdom dreams come true.
It’s All About The Kids
Ahh The kids…
It’s hard to believe this, but they aren’t always going to see us as the cool and hip people that we are today.
Dare I say it?
They may even get tired of us! 😉
This has us thinking that we should really get in some great family trips, while the getting is good.
While I would love to push for financial freedom as quickly as possible. The reality, is that I only have a small window where my kids are old enough to appreciate travelling and young enough to want to spend time with us.
Right now we are in the sweet spot, and we plan on taking full advantage of it!
(Almost) Time for the Trip of a Lifetime
From talking to others it looks like our kids are the perfect age to go, so we are setting our sights on it next year. Our jobs only allow us to go at certain times of the year so we are looking end of August or September of next year. We originally wanted to go this summer but it’s not enough time. So we are pushing it back a year. This is great news.
Why so Great??
There is a ton of lead time.
Disney is a big trip. For us it will most likely be a “Once in a Lifetime” family trip, so we will want to make sure we hit everything and do as much as possible when we get there.
Talking to a few other people, I should be budgeting $10,000 for the trip…
(insert jaw dropping here)
Disney is Expensiiiiiiiive.
Now as a dad, I want to give my kids this magical trip. As the family financial guy dreaming of being financially free, that’s a lot of little dollar soldiers going out the door and never coming back.
These are the times where I lock my Accountant and Rockstar in the same room and make them figure out how we are doing this.
When they finally hashed it out a plan started to form.
Here’s my Super Ultimate 2-Step Guide To Saving For Disney
First Thing I Did – Step 1
Grabbed my iPhone and asked Siri “How Many Days Until September 2017”
Siri : 500 days
$10,000/500 = $20
That’s $20 a day I need to save. That’s cheap… sorta, kinda…
It’s cheap enough that putting that much away every day won’t be too hard, but it is a lot of money.
The Second (and also Last) Thing I Did.
So I pulled up my banking app on my iPhone and set a daily transfer of $20 for the next 500 days.
That was it.
No needless debating or scheming how I was going to make this happen.
Just 2 simple actions. How much a day, and make it automatic with my bank to a separate account.
If It Ain’t Automatic, It Ain’t Happening
One thing I’ve learned from managing my own money for 20 years (I can’t believe it’s been that long). Is that if you don’t make saving automatic, it’s not happening.
The other thing, is that once it’s automatically going into a different account you can forget about it.
This is, by far and away, the best thing you can do when you are saving up for something.
Set it and forget it.
[tweetthis]If you dont make saving automatic, its not happening.[/tweetthis]
Here’s the Takeaway
So here’s the take away from this. When we first looked at Disney it was to go this summer, that’s not enough time to start saving.
Since you know I’m against taking on any new debt, Disney isn’t in the cards this year.
But when we push it out a year and it’s much more do-able.
What’s $20 a day?
It’s morning coffee and lunch.
It’s taking the bus or ride-sharing
It’s selling something everyday on Craigslist or Kijiji
It’s doable, if you make it a priority.
Now that it’s started, Disney is a reality.
Just don’t tell the kids, it’s going to be a surprise.
What big thing could you start saving up for if you were planning ahead? Let me know in the comments below!