Disney Debt-Trap: Parents' Nightmare or Rite of Passage?

A survey by LendingTree reveals a staggering number of parents are going into debt to take their kids to Disney, with concessions and accommodation being the main drivers of excessive spending.

A survey by LendingTree published this week reveals a startling trend: Disney vacations are sending nearly half of parents into debt. The survey found that 24% of all Disney-goers accrue debt, but this figure rises to 45% for parents with children under 18, with an average debt of $1,983.

The main culprit? Overpriced concessions. A whopping 65% of respondents cited food and beverage costs as their biggest expense. This was closely followed by 48% who underestimated transportation costs, and 47% who struggled with accommodation expenses, with a stay at a Disney World resort costing up to $1,079 per night for a family of four.

“For so many parents, taking their kids to Disney is a rite of passage...Because of those feelings, they’re often willing to take on debt to get there.” - Matt Schulz, LendingTree chief credit analyst.

Interestingly, despite the financial strain, 59% of parents expressed no regrets, and 90% stated they were satisfied with their trip. Most respondents (75%) also claimed they could pay off their debt within six months.

The survey highlights a concerning trend of parents willing to take on debt for a Disney experience, with 83% of those in debt having visited a Disney park in the last five years.

Tips to Avoid Disney Debt

LendingTree Chief Credit Analyst, Matt Schulz, offers a key tip to save money:

“One of the best ways to cut costs is to bring your own food and nonalcoholic drinks to the park...packing snacks and refillable water bottles, for example, can make a real difference” - Matt Schulz

Other suggestions include taking advantage of discounts for military personnel, in-state residents, and members of hotel chains, as well as utilizing online rewards for off-site chain restaurants.

For the full survey results and more money-saving tips, visit: LendingTree Disney Debt Survey.

---

About the Survey:

Conducted by: LendingTree

Sample Size: 2,001 respondents, aged 18-78

For media queries: Max Hauptman, Trending Reporter, USA TODAY (MHauptman@gannett.com)