The amount of debt parents get into to expose their kids to woke is shocking

Photo by Craig Adderley from Pexels

Parents always want to make sure they give their children a wonderful, happy childhood and fond memories.

But many parents visiting this world-famous destination are piling on some serious debt.

A new survey just revealed that half of all parents put themselves in debt when they decide to take their family to this woke location.

Parents going into debt after expensive Disney trips

According to a recent LendingTree report, almost 50 percent of parents with young children are going into debt after they take a trip to one of Disney’s theme parks.

LendingTree surveyed over 2,000 consumers and found that 24 percent said they have gone into debt just for this trip specifically.

That’s a 33 percent increase from the same survey’s findings in 2022.

According to the data, that figure jumped to 45 percent among parents with kids younger than 18.

Almost 83 percent of the parents with young children who have taken on debt have done so in the last five years.

As parents and families are facing tighter budgets and constant inflation, they are “more than likely to take on debt than before,” according to LendingTree.

Parents with young children took on $1,983 in debt from the trip, on average.

That figure is closer to $1,690 for all consumers surveyed, based on the data from LendingTree – lower than the Disney trip costs.

Ticket prices for Disney World vary based on the day and the park.

But Disney World’s website says that a standard, date-based ticket for Disney World guests ages 10 and older starts at $109 per day.

The standard ticket allows guests to go to one of its four theme parks: EPCOT, Magic Kingdom, Disney’s Hollywood Studios, and Disney’s Animal Kingdom.

It’s important to note that the ticket price does not include the cost of travel, food, and accommodation. 

According to Nasdaq, the average cost of a ticket to Disney World for a family of four is just over $700, and the price skyrockets to $2,572 for five days.

Ticket prices for Disneyland in California increased across the board last fall, sending the cost to $480 for a five-day ticket, an increase of nearly 16 percent. 

Concessions are a wallet-killer

According to the data from LendingTree, the concessions at Disney theme parks are what hit consumers the hardest during their trip.

Over 60 percent of people who are carrying debt from the trip said that in-park food and beverages ended up costing quite a bit more than they expected.

Around 48 percent of respondents blamed transportation fees, and 47 percent said that accommodation fees were the biggest surprise.

The survey also found that almost 60 percent of parents with young children who took on debt don’t regret doing so, and 90 percent of the parents who took their kids to Disney said it was a treat.

LendingTree senior economist Jacob Channel said, “Those thinking about going into debt to finance their Disney vacation should tread carefully,” especially because of today’s high interest rates on credit cards.

He also noted that “splurging” on vacations can make things “difficult” when trying to keep up with necessities “like groceries, housing, and child-care costs.”

Informed American will keep you up-to-date on any developments to this ongoing story.