Survey says millennials festival attendance is putting them in debt
Millennials festival attendance is more important than bank account restrictions.
There’s no doubt that festivals are the places to be, where you can dance and be free. Millennials are adopting this ethos so much that they are putting themselves into debt in order to attend.
A new report from CompareCards by Lending Tree in which 1,019 Americans were surveyed has found that 23% of festival-attending millennials have gone into debt to do so in the past year.
-53% millennials attended at least of music festival in the past 12 months.
-Of which 28% spent at least $500 on music festivals (R7 404,70).
-68% of them said they spent more in the past year than in any other year
The reason for this being the sky-high prices of festival tickets alone, which could set revelers back by upwards of $400 a pop (Coachella 2019).
A spending fest
Millennials aren’t just keeping local for their festival needs. In addition to attending massive American festivals like Coachella, EDC and Ultra they are also globe-trotting to experience festivals abroad like Tomorrowland.
Airfare, accommodation, festival tickets, and festival necessities all add up to an expensive experience. But hey, for American millennials (Americennials) it’s totally worth it.
In fact it’s so worth it they would rather be in debt than miss out on a festival.
This ethos matches results found in a study by financial expert Jean Chatzky: Experiences bring more happiness than physical objects.
Money can’t buy you happiness; however money can buy you tickets to festivals which will bring you happy experiences.
Millennials festival attendance will continue to increase, but make sure your finances don’t completely bomb out so that you can attend festivals in the future.