Average trip to Disney World puts parents $2k in debt, study finds

Michelle Del Rey
·2-min read

Parents are going thousands of dollars into debt to make their kids’ dreams come true at Walt Disney World, a new study has revealed.

The study by financial website LendingTree found that 45 percent of American families with children under 18 took on debt during their vacations to the famed theme park. The average amount of debt was $1,983.

The company surveyed more than 2,000 US consumers who went to the theme park in Orlando, Florida, and Disneyland in Anaheim, California.

Overall, 24 percent of people who visited the parks went into debt for their trip. That number has gone up 33 percent since the last survey in 2022.

The majority of families with young children have gone into debt to take their children to the park within the last five years. However, 59 percent of those surveyed said they have no regrets about the decision.

A majority of parkgoers said it took them less than six months to pay off the debt.

One of the biggest costs while spending a day at the happiest place on earth was the in-park food and beverages, parents reported. A majority said the cost was significantly higher than what they expected to spend. Parents also said transportation and accommodation costs were high.

Parents are getting thousands of dollars into debt to take their kids to Disney World, new study finds (Getty Images for Disney Dreamers)
Parents are getting thousands of dollars into debt to take their kids to Disney World, new study finds (Getty Images for Disney Dreamers)

A standard park ticket varies per park and day. On some days, tickets can be as low as $99. NerdWallet estimates that a seven-night trip for two adults can easily cost up to $4,000.

An average meal at the park can cost anywhere between $19 to $93 and parking can be $36 a day plus tax.

LendingTree Chief Credit Analyst Matt Schulz said it makes sense that a large percentage of parents would be willing to take on debt to get their children into the magic kingdom.

“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,” he said. “Because of those feelings, they’re often willing to take on debt to get there.”

He argued that going into debt for the visit could be a good thing. “That debt helped bring you an experience that you and your family are going to remember and talk about for the rest of your lives, which is a pretty darn good return on your investment,” he said.

“Of course, that doesn’t mean you should do it often. Every once in a while, a little debt generated in service of a greater goal can be fine.”

  • Up next
  • Up next
  • Up next
  • Up next

Latest stories

  • Dire sign in Aussie dollar spike: 'On the warpath'

    Australia is "straying from the narrow path", so could that spell a recession?

  • $1.5 million pay day using simple $10 trick: 'Worth your attention'

    Finance expert Ben Nash details how to avoid tax and build your retirement nest egg with these super tricks.

  • A $100 Billion Bet on China’s Economy Sours as Warehouses Empty

    (Bloomberg) -- In many parts of China, the warehouses and industrial parks that used to be a magnet for international investors are grappling with a surprising slowdown in business activity. Most Read from BloombergYouTuber Dr Disrespect Was Allegedly Kicked Off Twitch for Messaging MinorVW Latches Onto Rivian in $5 Billion EV Pact to Regain MomentumTrump Could Actually Lose Florida. Here’s Why.Nvidia Rout Takes Breather as Traders Scour Charts for SupportJulian Assange Leaves Court ‘Free Man,’

  • Hong Kong helps relieve yuan pressures as mainland China grapples with capital outflows

    The yuan is facing its highest level of capital outflow in eight years, according to new research, and data suggest a wave of offshore yuan remittances from Hong Kong to mainland China have helped offset some of the currency's looming depreciation pressures. China's trailing 12-month net capital outflows stood at US$139 billion as of May 2024, the worst year for the figure since the period from 2016 to 2017, said the French investment bank Natixis in a presentation on Tuesday. Firms are reluctan

  • Cutting Out These 9 Expenses Will Save Retirees Over $29,000 a Year

    Most retirees live on a fixed income, so you're always looking for ways to reduce expenses and save money. This isn't always easy, especially if you're already living with the least amount possible,...

  • China’s Financial Elite Face $400,000 Pay Caps, Bonus Clawbacks

    (Bloomberg) -- The era of big paychecks for Chinese financiers is fast coming to an end as some of the industry’s biggest companies impose strict new limits to comply with President Xi Jinping’s “common prosperity” campaign.Most Read from BloombergSupreme Court Poised to Allow Emergency Abortions in IdahoYouTuber Dr Disrespect Was Allegedly Kicked Off Twitch for Messaging MinorBolivia’s President Arce Swears in New Army Chief After Coup BidSpaceX Tender Offer Said to Value Company at Record $210

  • The Wealthiest Person in Singapore

    We recently compiled a list of the 30 Wealthiest People in Singapore and in this article, we will look at the richest person in Singapore. An Outlook of the Singaporean Economy According to the Ministry of Trade and Industry (MTI), the Singaporean economy rose at a more rapid pace than expected in Q1 2024. The GDP […]

  • Aussie banks issue cashless warning: ‘Going digital’

    Aussies are using less and less cash with the drop recorded across ages, incomes and locations.

  • The Biggest Economy in the World by the End of 2024

    We recently compiled a list of the 50 Biggest Economies in the World by the End of 2024 and in this article we will look at the country that topped our rankings. A Brief Analysis of the World Economic Outlook According to the United Nations, the global economic outlook has improved since January. The global […]

  • Fed officials are talking down the chance of rate cut this year

    At the beginning of the year, Federal Reserve officials projected they would cut interest rates three times this year. By June, they had lowered that projection to just one cut.

  • Exxon-led Guyana oil group's net jumps in 2023, margins top Nvidia's

    Guyana's lucrative agreement with an Exxon Mobil-led consortium in the South American country last year generated $6.33 billion for the partners, government data showed, yielding a net margin larger than that of chip-maker Nvidia Corp. The trio's combined net margin was 56%, greater than the 49% Nvidia earned in its most recent fiscal year. The Stabroek offshore oil venture's 2023 revenue soared 23% over the prior year, to $11.25 billion, as the addition of a third production vessel expanded output.

  • Dire warning of several rate hikes this year

    The worst fears of household borrowers could soon be realised as the Reserve Bank grapples with stubbornly persistent price pressures.

  • The U.S. is about to get slammed by a ‘very active’ hurricane season—but the carnage could be good news for these five insurance stocks, analyst says

    “If this grim forecast comes to fruition, it will likely buoy pricing” for insurance, says CFRA Research’s Catherine Seifert.

  • Ex-Two Sigma Researcher Becomes Big Winner of China Quant Quake

    (Bloomberg) -- A Chinese hedge fund founded by a Two Sigma Investments LP alumnus is emerging as one of the biggest winners from this year’s shakeup of the 1.6 trillion yuan ($220 billion) industry.Most Read from BloombergSupreme Court Poised to Allow Emergency Abortions in IdahoYouTuber Dr Disrespect Was Allegedly Kicked Off Twitch for Messaging MinorBolivia’s President Arce Swears in New Army Chief After Coup BidSpaceX Tender Offer Said to Value Company at Record $210 BillionFedEx Stokes Inves

  • Nvidia Rout Takes Breather as Traders Scour Charts for Support

    (Bloomberg) -- Nvidia Corp. shares showed signs of steadying after a $430 billion selloff sent traders searching for signals as to where the bottom may be.Most Read from BloombergYouTuber Dr Disrespect Was Allegedly Kicked Off Twitch for Messaging MinorNvidia Rout Takes Breather as Traders Scour Charts for SupportTrump Could Actually Lose Florida. Here’s Why.Rivian Gets $5 Billion Lifeline in Joint Venture With VolkswagenJulian Assange Leaves Court ‘Free Man,’ Ending 14-Year DramaThe stock rose

  • AeroVironment (NASDAQ:AVAV) Exceeds Q1 Expectations But Stock Drops

    Aerospace and defense company AeroVironment (NASDAQGS:AVAV) reported Q1 CY2024 results topping analysts' expectations, with revenue up 5.9% year on year to $197 million. On the other hand, the company's full-year revenue guidance of $805 million at the midpoint came in slightly below analysts' estimates. It made a non-GAAP profit of $0.43 per share, down from its profit of $0.99 per share in the same quarter last year.

  • A small group of tech stocks is driving the market rally — why that's 'not a flaw'

    Wall Street strategists are arguing the stock market rally's next leg higher doesn't need broader participation.

  • FedEx stock rockets almost 16% on earnings beat—and BofA boosts its price target

    The company also plans to complete a review of FedEx Freight by the end of the calendar year.

  • Companies Like QuinStreet (NASDAQ:QNST) Can Afford To Invest In Growth

    We can readily understand why investors are attracted to unprofitable companies. For example, although Amazon.com made...

  • What's the Monthly Payout From a $300,000 Annuity?

    When you need another stream of income for retirement, you might consider an annuity. You purchase the annuity from an insurance company and receive payments back at a later date. Before buying an annuity, it's important to consider how much … Continue reading → The post How Much Does a $300,000 Annuity Pay Per Month? appeared first on SmartAsset Blog.