LendingTree, the financial services firm, released the results of a survey exploring how Disney vacations affect finances.
The survey found that even as the cost of admission increases to a Disney park, consumers do not regret having spent a small fortune to visit the place “Where dreams come true”.
The firm points out that the 30% of visitors have gotten into debt due to a trip to the Disney parks. But while enjoying the magic of Disney might hurt some wallets, the 74% of attendees who went into debt have no regrets.
“It’s no secret that a trip to a park Disney is expensive, but it’s a price many Americans are willing to pay with debt. That speaks to the power of Disney and is also further proof of how many of us value experiences and the memories that can come with them,” said Matt Schulz, LendingTree’s chief credit analyst.
” Going into debt for such things can be okay, as long as it’s done in moderation. However, doing it too often or to too great a degree can be a recipe for trouble,” added Schulz.
Key survey results from the survey:
– Overall, 74% of Americans have been to a theme park or amusement parks, of this group, 74% have visited a Disney park.
– The 13% of consumers who have never been to a theme park say cost is the top reason they don’t visit.
– 1 in 5 (48%) Disney-goers have run into debt due to a trip to Disney.
– Most Disney goers who took on debt do not regret it, and 74% say they do not regret going into debt in debt to experience the magic of Disney.
– Parents with children under 10 years are more likely to incur debt to Disney, with 48 % saying a trip to Disney resulted in debt.
– Those who got into debt say that food and drink in the park (71%) and admission costs (30) were significantly more expensive than they originated. thought or budgeted.
– Although ticket prices have increased, currently September is the cheapest month for admission tickets, with an average cost of $126.48.
– December ticket prices are the most expensive with a average of $2022. dollars (To calculate ticket costs, LendingTree looked at the cost of Disney World one-day, one-park tickets between November 2022 and October 2022. Prices were reviewed on the Disney World website on 10 October 2022).
Schulz says that while affording the magical experience of visiting Disney can be difficult amid inflation, you can still make your trip by taking the following considerations: make a budget; consider opening a 0% balance transfer credit card; and use the rewards of your credit card.
For more details of the survey, enter here.
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