From the Mint group: 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, evaluate or approve the content material. Any hyperlinks to Mint Companions had been added after the creation of the posting. Mint Companions had no affect on the creation, course or focus of this text until in any other case particularly acknowledged.
Let’s get this out of the best way first: there’s no surefire calculation to find out whether or not or not an expertise like Coachella, Lollapalooza or Bonnaroo is well worth the cash. That reply in the end comes all the way down to your personal values and priorities.
However with the intention to decide you gained’t remorse, it may be useful to get an out of doors perspective. We’ll attempt to present that right here, together with how you can funds for music festivals and inventive tricks to drive down the prices.
The way to Finances for Music Festivals
The typical price for a serious pageant like Coachella relies on a number of components, like the place you’re staying, the sort of ticket move and for those who’re touring from out of city. Different prices like shopping for pageant merch or springing for a brand new wardrobe may break your funds.
Most festivals allow you to usher in meals, so that you’re not pressured to purchase overpriced burritos from distributors. You can too convey your personal water bottles or liquor to pregame earlier than a present.
For 2022, primary tickets to Coachella price $429 whereas a shuttle move plus tickets prices $504. VIP tickets price $999. The typical price of airfare to Los Angeles throughout Coachella prices $230, however prices will fluctuate relying on the place you’re flying from.
A resort close to Coachella prices $160 an evening on common whereas automotive or tent tenting passes begin at $102. The typical Airbnb prices $285 an evening, which you would break up with a number of individuals.
Professional-tip: Use Mint’s free journey funds calculator to assist plan for all the prices of your journey.
Save on Meals
When attending a music pageant, you’ll be able to reduce your meals prices by consuming a full breakfast earlier than you present up. When you’re tenting outdoors the grounds, convey easy-to-eat meals that gained’t spoil rapidly. Apples, jars of peanut butter and protein bars are good choices.
When you’re staying at an Airbnb, use it as a possibility to cook dinner meals. When you’re going to be too drained to cook dinner, purchase frozen meals you’ll be able to simply throw within the oven.
When you’re staying at a resort, attempt to discover one that features a mini fridge or microwave. You’ll seemingly have to order these upfront, so name weeks earlier than your reservation.
Save on garments
Attending a music pageant is a serious Instagram second. However before you purchase just a few new outfits, head to a thrift or consignment retailer first. When you’re touring with mates who’re comparable sizes, you would additionally swap or borrow garments to put on.
Discuss to mates
It’s one factor to get a value estimate from the web, however you will get extra life like figures by speaking to individuals who have truly been there. When gathering info for how you can set a funds for music festivals. Share a put up on social media asking who has attended the pageant you’re occupied with and the way a lot they spent.
You can too search on Reddit boards for particular questions, like how a lot shuttles from the airport price in comparison with automotive leases.
Finances for emergencies
When creating your funds for a serious expertise like a music pageant, be certain that to allocate funds in case one thing goes incorrect. Most individuals are overly optimistic after they funds, which can lead to 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 on the Airbnb – however that’s unlikely to be the case. Take your remaining numbers and multiply the determine by 10%. That method, you’ll be lined in case issues are costlier than you anticipated.
When making your music fest funds, be certain that to think about different bills like boarding on your pet. Ensure that your ID hasn’t expired otherwise you’ll must get it renewed. When you don’t have sufficient trip days, you’ll should forgo a part of your wage to attend.
Suppose again to different journeys the place you’ve had prices that stunned you, like parking your automotive on the airport. The extra you could plan and funds forward, the much less seemingly you’ll be to go over funds.
Use your bank card advantages
When you’ve got a journey rewards bank card, you will have perks that may prevent cash. Some playing cards, just like the Chase Sapphire Reserve card, supply free entry to airport lounges the place you will get free meals and drinks. Different playing cards present assertion credit whenever you use the cardboard for travel-related bills.
Most journey playing cards additionally present money again whenever you use the cardboard to e-book a flight, rental automotive, resort or Airbnb keep. Some even supply money again on rideshare providers like Uber and Lyft.
Undergo the bank cards you have got and discover which of them supply essentially the most money again. Deliver 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 e-book your flight, resort or rental automotive.
Is It Well worth the Cash?
Nobody can inform you whether or not or not going to Coachella, Bonnaroo, Lollapalooza or every other music pageant is value it. All of it relies on what you actually care about. When you’re solely occupied with going as a result of all your mates are, then it won’t be value it. However for those who daydream concerning the Coachella lineup when you ought to be working, then it could be an expertise value splurging on.
Some private finance specialists say you shouldn’t spend on large occasions for those who nonetheless have debt or live paycheck-to-paycheck. Different individuals say that it is best to carpe diem and make the most of these alternatives when you’re nonetheless younger. The reality most likely lies someplace in between.
Sit up for 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 have the ability to afford that and a Coachella? Undergo your funds and decide what you’ll be able to afford to do. When you can solely afford one journey, you then’ll should resolve which is extra vital.
From the Mint group: 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, evaluate or approve the content material. Any hyperlinks to Mint Companions had been added after the creation of the posting. Mint Companions had no affect on the creation, course or focus of this text until in any other case particularly acknowledged. Phrases apply to American Categorical advantages and presents. Go to americanexpress.com to be taught extra
Zina Kumok is a contract author specializing in private finance. A former reporter, she has lined homicide trials, the Ultimate 4 and every little thing in between. She has been featured in Lifehacker, DailyWorth and Time. Examine how she paid off $28,000 value of pupil loans in three years at Acutely aware Cash.