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Sunday, June 26, 2022

Millennial Money: Maximize Your Music Festival Savings

Attendees of this year’s Coachella music festival have posted viral videos linking their expenses from the weekend – costs for flights, hotels, food, drinks, outfits and rideshares have reached thousands. Plus tickets, which can start at around $400 for a three-day pass to a popular festival like Lollapalooza or Coachella.

Summer music festivals can be a once-in-a-lifetime experience, but the cost can easily pierce any budget. If you have decided to enjoy this summer, here are some ways in which you can keep your festival expenses in check.

View Credit Card Rewards

One of the best ways to make the most of your money at a concert is to take advantage of credit card rewards for entertainment purchases. The right card can get you cash back on tickets, access to low-cost presale tickets or free add-ons like dining and lounge access. Some may give you access to activities such as special artist performances and Ferris wheel rides.

Travel-specific credit cards can help you save On flights and hotels, and many also offer rewards for car rentals and Uber rides if you’re attending an out-of-town celebration.

Plan ahead for hidden costs

If you’re not prepared for full days of walking and dancing—and strict rules on what’s allowed inside the festival gates—you may find yourself paying for unexpected necessities, including food, water, and transportation.

Caitlin Gomez is a nursing student and spirited festival based in Irvine, California, which participates in a multi-day concert almost every month. With dedication to these experiences, he has learned to prepare in advance so that he does not spend much inside the festival. She recommends eating beforehand (and drinking if that’s your cup of tea), and carpooling if possible. Pro Tip: There is limited free parking available at many festivals if you arrive early enough to score a spot.

However, their biggest cost savers are buying “investment pieces that last years and work with the rules of the festival,” like a backpack with a built-in hydration pack, sturdy shoes, and a portable charger. Events can overcharge for on-site food ($17 to order chicken tenders at Coachella), water bottles, and even phone charging access, so coming prepared keeps costs under control.

And a note on staying: While some festivals, like Coachella, offer a camping option for a price, some don’t. So if you are in need of a hotel, shop around and book early. Airbnbs often charges an additional $100 or more on top of the booking price, so a shared hotel room may be the most cost-effective option.

Choose Payment Plan or Presale

Most festivals offer some option for paying for your ticket. The first is to pay the full ticket price in one lump sum, depending on when you make the purchase.

Festivals usually have several “tiers,” starting at the lowest prices for customers with presale access, and going up to hundreds of dollars for tickets purchased within weeks of the event. Signing up for a presale, especially one with exclusive access from a participating credit card company, can guarantee you the lowest possible price.

But if you don’t have the funds to cover the entire ticket at once, a zero-interest payment plan from the event company can make the cost more manageable. Although it may cost a small convenience fee to pay in installments, “when you’re only paying a fraction of the amount each month, it doesn’t feel as much of a financial impact,” says Gomez.

A Coachella ticket, for example, can be purchased for $99 down, with the rest paid for about $44 a month for the next eight months.

JOIN THE SOCIAL MEDIA COMMUNITY

It may seem impossible to attend half a dozen festivals every year, but that kind of devotion can pay off in this age of social media. Gomez and thousands of others grew and monetized their online followers to fund their music festival habits, earning themselves free tickets and commissions in the process.

“Create valuable content and partnerships will come,” says Austin, Texas-based life coach, digital marketing consultant, and creator of festival blog VibeWithAde.com, Adriana Ramos. Ramos has spent years sharing his festival experiences and advice, which has helped him build a strong platform with a loyal audience on his website, YouTube, and Instagram.

Because of his influence, event organizers and affiliated brands have given Ramos the opportunity to make commissions from his followers’ ticket purchases in exchange for creating free tickets and promotional social media content. With some events and brands, you can apply directly to become an affiliate partner.

Personal content creators are a valuable source of marketing for large festival brands, so if you’re willing to invest the time, interacting with the festival community online can help you attend more events at less cost.

weigh your priorities

Even with credit card rewards, planning ahead, and partnering with event brands, a ticket to a concert can still be a serious investment.

“It’s okay not to go to the festival if it’s going to set you back financially — or if you just can’t enjoy it to the fullest,” says Ramos. “There will always be another one.”

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This column was provided by personal finance website NerdWallet to The Associated Press. Dalia Ramirez is a writer at NerdWallet. Email: dramirez@nerdwallet.com.

Related Links:

NerdWallet: A Guide to Travel Credit Cards for Beginners

https://bit.ly/nerdwallet-travel-credit-cards-for-beginners-guide

World Nation News Desk
World Nation News Deskhttps://worldnationnews.com/
World Nation News is a digital news portal website. Which provides important and latest breaking news updates to our audience in an effective and efficient ways, like world’s top stories, entertainment, sports, technology and much more news.
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