"Disney" Savings Account...how early is too early?

[dkr7166]

Ok, I know I just got back from WDW about 6 weeks ago, but I'm thinking about my options for a future trip. I want to go for a 6th trip sooooooo bad! I know it will take me quite a while to get the necessary funds for the trip and thought it might not be a bad idea to open a savings account at my bank JUST for my Disney money. I can open one with them for just a penny (I'd probably start with a low amount, but not that low) and I thought it might not be a bad idea to have them transfer $5-10 per paycheck and put it into the Disney account. I have no idea when I will be able to go back, other than I need to get a new job first! I think I figured with just the paycheck transfers, it would take me somewhere around 6-7 years to get enough money, but every little bit helps. I doubt it would take me THAT long when I'm planning on dumping my change into the account as well, and possibly even part of my tax refunds.

So, even though I have no set date in mind for the trip, is this too early to consider doing something along these lines? Does anybody else do this? I'd mainly like it separate from my savings so I know how much is in there for that and how much interest is directly related to Disney money. I'd appreciate any input.

 

[budbeerlady]

I have a constant vacation fund going in ING. When I get done with the current trip I change the name and start over. You can never start too early!

 

[kelleigh1]

I agree - it's never too early. And the sooner you start, the sooner you can get there. And, if, God forbid, some emergency should come up and you need some money, you'll feel better knowing that you have at least been putting some aside right along.

A savings account is never a bad thing...especially if you can keep yourself from touching it.

 

[bettyann29]

I agree that its never to early to set some money aside.. and just that small amt will grow before you know it..

 

[dameodie]

We got back a week and a half ago, and I opened up an ING account sometime last week : My first $50 just hit today! It's never too early! And yes, if absolutely necessary it can be an emergency fund as well.

 

[ldb1030]

I start saving the day I get home from my cruise for the next one!

 

[luvsgrumpy]

It's NEVER too early! Now this is the truth, I started deductions from my paycheck right around the time DS was born and continued non-stop with the deductions until I quit work, about 6-7 years. We finally were able to to when he turned 11. We had enough money by then, but second DS and DD came along in the meantime and I refused to take an infant or toddler in diapers. (just my preference) I specified the money as "Disney" but I know we were able to use a little here and there like Kelliegh1 mentioned.

The sooner you start, the sooner you'll be able to go!!

 

[dkr7166]

Thanks for all the input!

A savings account is never a bad thing...especially if you can keep yourself from touching it.

I actually have one and transferred to my current bank last fall. I like them a lot more than the one I was at before. They have a steady save program that allows me to automatically transfer cash from each check to the account. It's the only way I end up adding money regularly. I have to keep reminding myself that technically my CD is also a savings account so it's split between those accounts.

That's a good point about emergencies too. I'm hoping I never have to take money out of my Disney account, but it is there if I need it.

Quick question here...I think I read a while back that there's one bank that gives you a bonus for opening an account with them. Was that ING? Does anybody know what the deal is for that and what you have to sign up for exactly? I looked at their site earlier and didn't see anything for savings account.

I think I'll stop out at the bank tomorrow and open another account.

 

[ellyn2000]

We can send direct deposits to more than one bank. I have an acct. that I don't regularly use and don't have a debit or ATM card for. I have a deposit made into that acct. each payday and use that for my Disney fund. I will also make odd deposits (rebates, my change jar proceeds, etc...) and it's amazing how fast it can add up. Start an acct. now and then add any extra you can. It's a good start.

 

[disneychrista]

While mine is not a Disney savings I do have a vacation savings that I make deposits into twice a month. I just wish I had MORE that I could put into it. But as long as it allows for a small trip somewhere each year or a larger one every 2 -3 that is what matters.