Paying early, any drawbacks?

[Adora]

So my plan was to pay for the deposit and memory maker this month. And then pay $1000 each month on the hotel until it's paid in full. This will leave a few months before we go to save up some food/souvenir money.
So my question is there a drawback to paying things off months before you go? Do you normally pay early or do you just save up and pay in one shot? TIA

 

[DisneyWishes14]

There no real drawback other than Disney has your money instead of you saving it and potentially making a little interest off of it. Plus, if you do need to cancel, you have to wait to get your money refunded. I never pay anything off until about 2 or 3 days prior to our pay-in-full date.

 

[Meglen]

I like paying off early because after a few months it turns into a free vacation (in my brain) since I don't need to budget or check checkbook anymore for payments . It's like a weight has been lifted.

 

[TomorrowlandKD]

I like paying off early because after a few months it turns into a free vacation (in my brain) since I don't need to budget or check checkbook anymore for payments . It's like a weight has been lifted.

This.

 

[starry_solo]

There no real drawback other than Disney has your money instead of you saving it and potentially making a little interest off of it. Plus, if you do need to cancel, you have to wait to get your money refunded. I never pay anything off until about 2 or 3 days prior to our pay-in-full date.

This....if you have to cancel, you have to wait a while to get refunded.

 

[Adora]

Will they refund the amount of the Memory Maker?

 

[MomOTwins]

My credit card gives 3% cashback on the first $2,500 travel spent each quarter. So to maximize cashback it makes sense for me to pay $2,500 now and wait to pay another $2,500 in April. If you have something similar that could affect what you want to do in terms of payment timing.

 

[Coffee54]

This....if you have to cancel, you have to wait a while to get refunded.

Well said. Pay when u have to and not early

 

[mickeynut1]

So my plan was to pay for the deposit and memory maker this month. And then pay $1000 each month on the hotel until it's paid in full. This will leave a few months before we go to save up some food/souvenir money.
So my question is there a drawback to paying things off months before you go? Do you normally pay early or do you just save up and pay in one shot? TIA

Everyone is different, but I like having everything paid in full before I go. I usually do RO, so after the initial deposit, I make payments every so often to get it paid prior to arriving.

Will they refund the amount of the Memory Maker?

I don't think memory maker is refundable, but I don't know for sure. Hopefully others will be able to answer.

 

[sponica]

Will they refund the amount of the Memory Maker?

I had mine bundled into my package, so when I cancelled the package it was refunded. And my refund took like 24-48 hours to clear at the most...I usually pay mine off well before the money's due but that's because of my own financial quirks.