Villas will save you overall. You can easily accommodate two families in a 4-bed villa for less than $700 or £350 per week. Not only will this give you greater space and comfort than hotel rooms, you have the freedom to cook your own meals, store cold drinks and ice cream in an oversized fridge/freezer and save time in eating out. Usually you will also have the benefit of your own private screened pool.
If you do want to stay in Disney then consider Fort Wilderness campground.
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Make sandwiches to take into the parks. This will save you about $7 per head in bought lunches then treat yourself to a Disney meal at night.
Save time by buying from the counter service outlets in the parks. These offer far better value for money. If you want to enjoy a quality expensive sit down meal in Disney then don't do it when you have paid to go into the park. On another day, book a table in Citroni or Victoria and Albert's in the Grand Floridian resort. Both expensive but well recommended.
Buy the drink straps that are readily available at all Disney Parks then attach your own water bottle purchased at the Grocery Store for far less than $2 each. Refill at the many drinking fountains throughout the parks.
Enjoy the many free benefits that Disney has to offer: a stroll around Boardwalk and view the overnight firework display; let your children play in the Lego area in Disney Marketplace and enjoy the free entertainment there.
Don't buy more Disney ticket days than you need. Follow these easy steps to decide on which "Magic Your Way" ticket that you need:
Take the length of your vacation
Deduct the time you will want to spend in Universal, Wet 'n Wild, etc, using an Orlando FlexTicket or individual tickets
Deduct other interests that you have such as Kennedy Space Center or the Arts.
Deduct the days that you want to spend on golf or shopping or just lounging by the pool.
Deduct your arrival and departure days to calculate the days you have available and then want to spend in Disney
Decide whether you want to spend the days in the main theme parks or in a combination of the main theme parks and water parks or Disney Quest (note that one of the additional days can be spent on Disney Quest which you can combine with another activity due to late opening hours (although this will use an additional one of the additional days on your pass).