Summer is finally here and you know what that means, time to start going to concerts. As fun as concerts are they can quickly break the bank. So─ how can one still attend concerts and not go broke?! Luckily I am here to tell you how!
Step 1: Prioritize
Prioritizing is a pretty simple concept ─for example let’s say you have a hefty car insurance payment that is going to cost you $400, then it probably isn’t the best idea for you spend $375 on a concert ticket. It is important to pay your bills on time whether it’s your credit card, student loans, car insurance, etc. because failure to do so can lead to financial turmoil (AND no one wants to be in financial turmoil). Don’t try or allow yourself to rationalize why a concert may be more important than your bills. I can promise you it isn’t. Memories are invaluable, but plunging into debt will lead to a poor credit score which will inhibit you from doing many more things. Bottom line: Don’t make a concert more important than a payment.
Step 2: Choose one concert you feel you MUST go to
This step may be hard for some people; it was especially hard for me. As a lover of music, there are so many concerts I want to go to this summer but unfortunately due to my excessive amount of parking tickets and credit card bills that won’t be possible. Therefore, I chose one (Lollapalooza) I spent $275 on a 3-day ticket. From this point on I won’t be spending money on other concerts because (this is where step one comes into play) I must prioritize. Yeah, going to other festivals would be fun but it isn’t worth putting myself into a deep hole of debt.
Step 3: Be as frugal as possible when going to a concert
Seriously, don’t go to a concert and buy $12 dollar drinks. Give yourself a set amount of money; for the sake of this blog post let’s say $80. With that $80 you can buy food, cab, water, etc. but once you’ve spent that money don’t dip into your bank account for more. This tends to be my biggest mistake. When I go out or attend a concert I make this mistake by telling myself that I should live for the moment and buy what I want and just deal with the consequences later. Well, when later comes around and I check my balance and realize I have no money. I am reminded that my ‘in the moment’ mindset was foolish.
Overall if you maintain frugal mindset and prioritize ‘needs over wants’ this festival season shouldn’t burn a hole in your pocket.
As Blogger and budget aficionado, Tara K. helps students across the country enhance their knowledge about money management and everyday life. She is constantly looking for new ideas to transform into great advice for you. Pursuing a journalism major, Tara K. has a passion for the art of inquiry, which is conveyed through her writing.