Hi Robert,
I often travel to Disney with my family of 7 and we've come up with a few ways to save some money. First, you'll want to look into renting 2 connecting rooms in a
Value Resort. There are also Family Suites available in the Value Resorts. It ends up slightly cheaper to rent the 2 connecting standard rooms instead though.
I recommend ordering breakfast items and bottled water ahead of time from a local delivery service called Garden Grocer. We eat breakfast in our room (granola bars, bagels, etc) on most mornings and this saves a significant amount of money. You can also bring snacks into the parks for the kids in baggies (goldfish crackers, pretzels, etc).
Since this is your first visit, just purchase the Base tickets as opposed to Park Hoppers. This will allow you to fully immerse yourself in one park per day, instead of going from park to park. Again, this is a big money saver and since it's your first time, you'll find there is plenty to see and do in each park.
If I can help you further, please don't hesitate to ask. Have fun planning and a wonderful Disney vacation,
Kaylene