Disney Debt: American Families Spend Thousands on Magical Vacations

A trip to Disney theme parks can be expensive for American families. According to a recent LendingTree survey, 24% of Disney vacationers went into debt for their trip, with parents of young children taking on an average of $1,983 in debt.

For those who spend more than just a few thousand dollars, the costs can be staggering. A social media trend has been going viral, where people boast about spending tens of thousands of dollars on Disney vacations.

Financial experts are warning families that taking on such debt may not be worth it. George Kamel, co-host of The Ramsey Show and Smart Money Happy Hour podcast, said 'There truly is nothing magical about putting your life on payments and paying for it six months later, 12 months later at 28% APR, just for some memories.'

Kamel pointed out that a $100,000 Disney Vacation Club contract would be worth over $8.8 million if invested at a 10% return over the same time period.