HomeFinanceAre Music Festivals Worth the Price?

Are Music Festivals Worth the Price?

From the Mint staff: Mint could also be compensated for those who click on on the hyperlinks to our issuer companions’ presents that seem on this article, together with Chase. Our companions don’t endorse, evaluation or approve the content material. Any hyperlinks to Mint Partners have been added after the creation of the posting. Mint Partners had no affect on the creation, route or focus of this text until in any other case particularly said.

Let’s get this out of the approach first: there’s no surefire calculation to find out whether or not or not an expertise like Coachella, Lollapalooza or Bonnaroo is price the cash. That reply in the end comes right down to your personal values and priorities.

But with a view to decide you gained’t remorse, it may be useful to get an outdoor perspective. We’ll attempt to present that right here, together with how one can finances for music festivals and artistic tricks to drive down the prices.

How to Budget for Music Festivals

The common price for a serious competition like Coachella is dependent upon a number of components, like the place you’re staying, the form of ticket cross and for those who’re touring from out of city. Other prices like shopping for competition merch or springing for a brand new wardrobe may also break your finances.

Most festivals allow you to herald meals, so that you’re not compelled to purchase overpriced burritos from distributors. You may also carry your personal water bottles or liquor to pregame earlier than a present.

For 2022, primary tickets to Coachella price $429 whereas a shuttle cross plus tickets prices $504. VIP tickets price $999. The common price of airfare to Los Angeles throughout Coachella prices $230, however prices will fluctuate relying on the place you’re flying from.

A lodge close to Coachella prices $160 an evening on common whereas automotive or tent tenting passes begin at $102. The common Airbnb prices $285 an evening, which you could possibly cut up with a number of folks.

Pro-tip: Use Mint’s free journey finances calculator to assist plan for all the prices of your journey.

Save on Food

When attending a music competition, you may decrease your meals prices by consuming a full breakfast earlier than you present up. If you’re tenting exterior the grounds, carry easy-to-eat meals that gained’t spoil rapidly. Apples, jars of peanut butter and protein bars are good choices.

If you’re staying at an Airbnb, use it as a possibility to prepare dinner meals. If you’re going to be too drained to prepare dinner, purchase frozen meals you may simply throw in the oven.

If you’re staying at a lodge, attempt to discover one that features a mini fridge or microwave. You’ll seemingly have to order these prematurely, so name weeks earlier than your reservation.

Save on garments

Attending a music competition is a serious Instagram second. But before you purchase a couple of new outfits, head to a thrift or consignment retailer first. If you’re touring with buddies who’re comparable sizes, you could possibly additionally swap or borrow garments to put on.

Talk to buddies

It’s one factor to get a price estimate from the web, however you may get extra practical figures by speaking to individuals who have really been there. When gathering info for how one can set a finances for music festivals. Share a publish on social media asking who has attended the competition you’re thinking about and the way a lot they spent.

You may also search on Reddit boards for particular questions, like how a lot shuttles from the airport price in comparison with automotive leases.

Budget for emergencies

When creating your finances for a serious expertise like a music competition, ensure that to allocate funds in case one thing goes flawed. Most individuals are overly optimistic once they finances, which may end up in unintentional overspending.

It’s tempting to imagine you’ll be accountable the entire time, saying no to expensive drinks and consuming all of your meals at the Airbnb – however that’s unlikely to be the case. Take your last numbers and multiply the determine by 10%. That approach, you’ll be lined in case issues are dearer than you anticipated.

When making your music fest finances, ensure that to think about different bills like boarding in your pet. Make positive your ID hasn’t expired otherwise you’ll have to get it renewed. If you don’t have sufficient trip days, you’ll must forgo a part of your wage to attend.

Think again to different journeys the place you’ve had prices that shocked you, like parking your automotive at the airport. The extra which you could plan and finances forward, the much less seemingly you’ll be to go over finances.

Use your bank card advantages

If you will have a journey rewards bank card, you might have perks that may prevent cash. Some playing cards, like the Chase Sapphire Reserve card, supply free entry to airport lounges the place you may get free meals and drinks. Other playing cards present assertion credit whenever you use the card for travel-related bills.

Most journey playing cards additionally present money again whenever you use the card to ebook a flight, rental automotive, lodge or Airbnb keep. Some even supply money again on rideshare companies like Uber and Lyft.

Go by way of the bank cards you will have and discover which of them supply the most money again. Bring these playing cards with you whenever you journey. If you have already got a big stash of rewards factors or miles, you need to use them to ebook your flight, lodge or rental automotive.

Is It Worth the Money?

No one can let you know whether or not or not going to Coachella, Bonnaroo, Lollapalooza or every other music competition is price it. It all is dependent upon what you actually care about. If you’re solely thinking about going as a result of all your pals are, then it may not be price it. But for those who daydream about the Coachella lineup when you need to be working, then it could be an expertise price splurging on.

Some private finance consultants say you shouldn’t spend on massive occasions for those who nonetheless have debt or reside paycheck-to-paycheck. Other folks say that you must carpe diem and make the most of these alternatives when you’re nonetheless younger. The fact most likely lies someplace in between.

Look forward to the remainder of the 12 months and see if there are every other main journeys or occasions arising. For instance, in case your greatest good friend is having a vacation spot wedding ceremony in Mexico, will you be capable to afford that and a Coachella? Go by way of your funds and decide what you may afford to do. If you may solely afford one journey, then you definitely’ll must determine which is extra essential.

From the Mint staff: Mint could also be compensated for those who click on on the hyperlinks to our issuer companions’ presents that seem on this article, together with Chase. Our companions don’t endorse, evaluation or approve the content material. Any hyperlinks to Mint Partners have been added after the creation of the posting. Mint Partners had no affect on the creation, route or focus of this text until in any other case particularly said. Terms apply to American Express advantages and presents. Visit americanexpress.com to study extra

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Zina Kumok (163 Posts)

Zina Kumok is a contract author specializing in private finance. A former reporter, she has lined homicide trials, the Final Four and all the pieces in between. She has been featured in Lifehacker, Each dayWorth and Time. Read about how she paid off $28,000 price of scholar loans in three years at Conscious Coins.

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