Rock On Without Breaking the Bank: Frugal Ways to Enjoy Live Concerts 

Tickets for Taylor Swift’s 24 Eras tour dates this summer sell for an average of $920 apiece, according to StubHub (or over 1,300 AUD). While attending a concert or festival is a great way to see your favourite music live regardless of the genre, saving up for the tickets and other related costs can, at times, feel nearly impossible. Thankfully, there are a variety of ways in which you can make saving up easy — from investing your money wisely to cutting costs.

Taylor Swift’s Eras tour aren’t the only tickets that concert-goers are paying a pretty penny for — Australians heading to the 2023 Laneway Festival would have to pay $20 more for their ticket than they did at the event’s last edition in 2020, according to one late 2022 article from the Sydney Morning Herald. Whether tickets cost less or far more than $100, there are a few savvy ways in which avid concert goers can cut costs on the tickets themselves. One post from SavingAdvice.comhighlights a few tips worth considering when looking to save money on tickets, from going alone to choosing a weeknight or different city. The post highlights that tickets for weeknight events are actually around 15% cheaper than weekend concerts, while noting that venues will usually discount single seats that don’t have any open/available seats next to them.

Setting aside money to save can be challenging, though there are a variety of ways to make doing so easier. Setting goals and creating (and sticking to) a budget are just a couple of key ways that can help you save money regularly, while budgeting apps can make managing your budget, savings, and expenses more convenient. Making wise investments for long-term goals can also help you to fund concert tickets down the line as well. For instance, a high-interest savings account, or “bank accounts that will pay you a higher interest rate on your savings, or balance, each month when you meet certain conditions, or for a certain period of time,” are designed to help grow your savings faster, explains one Forbes Advisor post. For those who are saving for a comfortable retirement, enlisting the help of a specialised investment firm can be a great way to work towards and reach your financial goals. For example, active fund management can include benefits by constantly re-evaluating investments, thus giving the ability to take advantage of opportunities as they arise while managing risk along the way.

For avid concert goers looking to make saving up fun and less of a chore, turning the concept of saving into a challenge can be a fantastic way to do just that. “With a money saving challenge or a “no spend challenge,” you tell yourself that you’re going to go a week without spending money on anything except your bills,” explains one U.S. News & World Report article. “If you succeed, maybe as a reward and incentive to participate in the challenge you buy some $20 gift that you’ve been waiting to purchase for yourself.” Whether you challenge yourself to refrain from spending on unnecessary items for a couple of weeks at a time or a month straight, there are ways to leverage the idea to your benefit.

Angel Zhong, an associate professor in finance at RMIT University, notes how money-saving challenges can be great as a motivational tool, especially if you don’t have a good idea of your overall financial situation. “They can also help you get into the habit of saving money,” she says. “If you have a lower level of financial literacy… or you’ve been struggling to keep track of your spending, this could help you take an important step towards achieving financial freedom.” The ABC article goes on to highlight more advice from Dr. Zhong, who strongly advises making a budget before partaking in any money-saving challenges.

Making it a habit to save up money to fund concert-going activities can be a challenging endeavor, especially in today’s economic climate. However, by partaking in challenges, making wise investments for long-term savings, and cutting costs where possible, you’re sure to effectively work towards your goals.