(KTLA) — More travelers are seemingly taking on debt to afford a trip to Walt Disney World in Orlando, Florida, according to a new study from Lending Tree.
The financial website surveyed over 2,000 U.S. consumers and found that 45% of parents taking their children under 18 to the theme park resort have taken on Disney-related debt. That’s a 33% increase from 2022, when only 18% of survey respondents acquired such debt.
On average, parents of young children took on $1,983 in Disney-related debt. About 65% said the debt came from unplanned food-related expenses, 48% said it came from transportation expenses and 47% said the debt came from accommodation costs.
Even with the high costs, 41% of Disney parkgoers said they used a discount on their most recent trip.
Still, many told Lending Tree they have no regrets about their choices and that the trip was a “treat” for their kids.
“It’s understandable that a significant chunk of parents would take on debt for Disney. For so many parents, taking their kids to Disney is a rite of passage, something they remember fondly from their youth and want to experience with their kids,” LendingTree Chief Credit Analyst Matt Schulz said in a statement.
“Because of those feelings, they’re often willing to take on debt to get there.”
Schulz shared these money-saving tips for those who have acquired Disney-related debt — or any debt — during vacations.
- Save money for trips by setting a portion of earnings aside in a high-yield savings account.
- Shop around if you are considering a personal loan to fund an upcoming getaway.
- Spend money based on your priorities.
“What matters most to you on a Disney trip doesn’t matter to someone else,” Schulz said.
“Some may splurge on a hotel and pack lunches. Others may just look for the lowest hotel rate but seek out the best dining. Spend the most on what gives you the most joy, and then be judicious spending elsewhere.”
