Learn how budget and save for the summer festival season without draining your wallet
You can't think about summer without thinking about music festival season. The vibrant atmosphere, electrifying performances, and the chance to connect with like-minded music fans create an unforgettable experience.
However, attending a music festival can be a pricey venture. To ensure you don't miss out on the fun due to finances, it's essential to plan and budget wisely. Below are effective strategies to budget and save for a music festival, along with expected costs you might incur during your unforgettable adventure.
What Is the Average Cost of a Music Festival?
Expenses can shoot up quickly, if you're attending a music festival. In fact, spending $2,000 in a weekend is not unusual. Below are costs to expect:
Tickets: This is the primary expense, and prices can vary widely depending on the festival and the type of ticket you choose (single-day, weekend pass, VIP, etc.). Costs will vary depending on when you buy and whether you decide to shell out for the VIP options, but tickets for a multi-day event typically cost hundreds of dollars. For instance, in 2023, general admission to Bonnaroo in Tennessee was $380 and up for four days; while passes for Coachella, in California, began at $540 for three days.
Accommodation: Whether you're camping, staying in a hotel, or renting a vacation home, accommodation costs are a significant factor. On-site camping may be a way to enjoy festival season on a budget. General admission camping is included in the ticket price for some festivals, and you can typically pay a fee if you’re bringing a vehicle along. Camping not only skips pricey hotel rates, but you also won't have to pay for daily transportation to and from venues.
Transportation: Consider travel expenses, including gas, flights, or public transportation to and from the festival location. Even if you live nearby, you may need to pay for a rideshare, a shuttle pass, or gas and parking to get to the event.
Food and Beverages: Festivals often have a variety of food vendors, but these can be pricey. Budget for meals, snacks, and drinks throughout the event. Consider bringing non-perishable foods, snacks, and water, if you’re looking for ways to save money at festivals.
Merchandise and Souvenirs: It's always tempting to bring home a piece of the experience. If you're looking for ways to save, consider cutting out merchandise out of your spending plan; and focus on low-cost mementos, like photos with friends or festival wristbands. But if you have the budget and want something more, plan for some discretionary spending on festival merchandise.
Miscellaneous Expenses: Don't forget to account for unexpected costs or emergency expenses.
What Are Some of the Best Ways to Save for a Music Festival?
Set a Realistic Budget: Before you start saving, it's crucial to determine how much you can afford to spend on your music festival experience. Consider factors such as travel, accommodation, tickets, food, and miscellaneous expenses. Be realistic about your financial situation and set a budget that won't leave you struggling after the festival is over.
Research Festival Costs: Different music festivals come with varying price tags. Research the festival you're interested in attending to get an idea of ticket prices, camping fees, and any additional costs. Factor in whether you'll be camping, staying in a hotel, or opting for alternative accommodations. Understanding the full scope of expenses will help you create a more accurate budget.
Create a Savings Plan: Once you've established a budget, create a savings plan to reach your financial goal. Determine how much money you need to save each week or month leading up to the festival. Consider opening a separate savings account dedicated solely to your festival fund to prevent any accidental spending.
Explore Group Options: Attending a music festival with friends can be not only more enjoyable but also more cost-effective. Explore group ticket options, shared accommodations, and group travel discounts. Splitting costs with friends can significantly reduce the financial burden while enhancing the overall experience.
Volunteer or Hunt for Discounts: Keep an eye out for early bird ticket sales, promotional discounts, and package deals that include tickets and accommodation. Many festivals also offer loyalty programs or referral discounts for bringing friends along, or provide large discounts if you volunteer at the festival. Look for such opportunities can help you secure the best deals and stretch your budget further.
Avoid Layaway or "Buy Now, Pay Later" Options: Avoid paying for music festivals with layaway arrangements or "Buy Now, Pay Later" options. Some of these arrangements include interest or charge fees for spreading the cost of your purchase. Instead, create a budget and save up for festival tickets in advance.
The Bottom Line
Attending a music festival is a thrilling adventure that requires careful financial planning. By setting a realistic budget, researching festival costs, creating a savings plan, and exploring cost-saving options, you can make your dream music festival experience a reality. Remember to be mindful of expected costs and make informed choices to ensure you have an unforgettable time without breaking the bank.